Studio Dragon (253450) Q1 2026 earnings summary

Executive summary

• Q1 2026 revenue reached KRW 155.3 billion, up 16% year-over-year, with operating profit at KRW 6.4 billion, driven by expanded drama content supply, TV lineup, and global OTT partnerships.

• Net income attributable to shareholders was KRW 6.6 billion, with basic EPS of KRW 218.

• Overseas revenue was KRW 95.2 billion, supported by global OTT originals and pre-sales to platforms like Netflix and Amazon Prime Video.

• 91 episodes aired in Q1 2026, up 32 year-over-year, reflecting an expanded lineup.

• Total assets at quarter-end were KRW 963.1 billion, reflecting working capital changes.

Financial highlights

• Consolidated sales reached KRW 1.29 trillion, up 17% year-over-year.

• Operating profit was KRW 1.5 billion, showing slight improvement from the previous year.

• Studio Dragon posted KRW 155.3 billion in revenue and KRW 6.4 billion in operating profit.

• Net profit for Q1 2026 was KRW 6.6 billion, a significant turnaround from KRW 2.4 billion in Q1 2025.

• TV programming revenue increased 45.5% year-over-year to KRW 48.4 billion, while content sales grew 6.4% to KRW 104.5 billion.

Outlook and guidance

• Q2 will focus on recovering ad revenue via integrated products and leveraging major sporting events.

• Continued momentum expected with further platform and content diversification, IP business expansion, and new drama, entertainment, and music IP launches.

• TVING aims for break-even starting Q2, supported by ad growth and content supply normalization.

• The company is prioritizing global expansion, with new U.S. and Japanese projects underway and continued investment in original IP.

• Management expects further revenue growth as global OTT partnerships and overseas remakes expand.