ROBOTIS (108490) Q4 2024 earnings summary

Executive summary

• FY24 consolidated revenue rose 3.1% YoY to KRW 30.04bn; operating loss narrowed to KRW 2.97bn, while net loss widened to KRW 3.04bn.

• Actuators remained the core business at 98.47% of revenue; autonomous-robot operations remained loss-making amid continued development and commercialization investment.

• Separate statements showed revenue of KRW 26.94bn, operating loss of KRW 3.89bn and net loss of KRW 3.72bn; the consolidated audit opinion was unqualified.

Financial highlights

• Consolidated FY24 revenue was KRW 30.04bn, up 3.1% YoY; gross profit increased 5.1% to KRW 16.25bn.

• Operating loss narrowed 43.9% YoY to KRW 2.97bn as SG&A declined 7.4% to KRW 19.22bn.

• Net loss widened to KRW 3.04bn from KRW 1.30bn; finance costs rose 70.7% to KRW 5.56bn and finance income fell 34.3% to KRW 3.42bn.

• Basic and diluted EPS were both KRW -244, versus KRW -110 in FY23.

• Operating cash flow was KRW 5.36bn; year-end cash and equivalents totaled KRW 11.69bn.

Outlook and guidance

• Autonomous-robot investment is expected to continue, particularly for outdoor services requiring infrastructure, AI data collection and regulatory progress; these efforts require significant time and resources.

• Plans call for expanding indoor delivery across Japan and North America and entering new markets where robots’ elevator and floor-transition capabilities are important.

• Physical-AI and collaborative-robot development with MIT is intended to support the next-generation OpenMANIPULATOR-Y platform and humanoid development.