$NXATW

Nexus Advanced Technologies Inc.

CIK:0002000756|SEC Filings

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS - KRW (₩) ₩ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues
Total revenues	₩ 78,080,920	₩ 43,010,330	₩ 67,481,156
Cost of revenues	(71,203,348)	(41,911,949)	(60,837,065)
Gross profit	6,877,572	1,098,381	6,644,091
Selling, general and administrative expenses	(69,208,430)	(3,984,317)	(4,598,226)
Other income	1,299,367	1,022,129	1,487,080
Other expenses	(133,696,369)	(1,643,085)	(35,547)
Operating profit(loss)	(194,727,860)	(3,506,892)	3,497,398
Finance income	24,647,541	576,570	1,743,941
- Related parties	589,224	125,779	831,200
- Non-related parties	24,058,317	450,791	912,741
Finance costs	(37,594,482)	(1,381,523)	(1,688,210)
- Related parties	2,740,497	242,559	176,597
- Non-related parties	34,853,985	1,138,964	1,511,612
Profit(Loss) before income tax	(207,674,801)	(4,311,845)	3,553,129
Income tax benefit(expense)	(435,086)	753,650	(760,779)
Profit(Loss) for the period	(208,109,887)	(3,558,195)	2,792,350
Items that will not be reclassified to income or loss:
Foreign Currency Translation adjustments	(4,890,859)
Remeasurement of defined benefit liabilities	311,214	44,085	109,558
Total comprehensive loss for the period	(212,689,532)	(3,514,110)	2,901,908
Loss attributable to:
Owners of the Parent Company	(205,742,925)	(2,541,375)	3,137,186
Non‑controlling interest	(2,366,962)	(1,016,820)	(344,836)
Total comprehensive loss attributable to:
Owners of the Parent Company	(210,371,472)	(2,511,780)	3,210,734
Non-controlling interest	₩ (2,318,059)	₩ (1,002,330)	₩ (308,826)
Basic earnings per share	₩ (3,341)	₩ (290)	₩ 357
Diluted earnings per share	₩ (3,341)	₩ (290)	₩ 357
Content Merchandising Revenue [Member]
Revenues
Total revenues	₩ 44,415,967	₩ 28,379,904	₩ 49,771,824
Content Merchandising Revenue Related Parties [Member]
Revenues
Total revenues	9,396,922	8,785,673	11,184,157
Content Merchandising Revenue Non Related Parties [Member]
Revenues
Total revenues	35,019,045	19,594,231	38,587,667
F And B Revenue [Member]
Revenues
Total revenues	12,228,818	14,630,426	17,709,332
F And B Revenue Related Parties [Member]
Revenues
Total revenues	54,369	70,477	15,303
F And B Revenue Non Related Parties [Member]
Revenues
Total revenues	12,174,449	14,559,949	17,694,029
Content Production Revenue [Member]
Revenues
Total revenues	20,690,997
Content Production Revenue Related Parties [Member]
Revenues
Total revenues	(14,598)
Content Production Revenue Non Related Parties [Member]
Revenues
Total revenues	20,705,595
Content Investment Revenue [Member]
Revenues
Total revenues	745,138
Content Investment Revenue Related Parties [Member]
Revenues
Total revenues	736,761
Content Investment Revenue Non Related Parties [Member]
Revenues
Total revenues	₩ 8,377

CONSOLIDATED STATEMENTS OF CASH FLOWS - KRW (₩) ₩ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net income(loss) for the period	₩ (208,109,887)	₩ (3,558,195)	₩ 2,792,350
Adjustments to reconcile net income to net cash provided by (used in) operating activities	199,104,676	2,368,242	(6,881,338)
Interest received	61,374	38,436	70,995
Interest paid	(1,094,541)	(999,198)	(1,184,042)
Income tax refund (paid)	262,561	(707,915)	(3,176,978)
Dividend received	2,613	1,463	1,463
Net cash outflow from operating activities	(9,773,204)	(2,857,167)	(8,377,550)
Cash flows from investing activities
Proceeds from short-term loans	439,284	1,779,500	320,000
- Related parties	240,000	1,279,500	310,000
- Non-related parties	199,284	500,000	10,000
Proceeds from disposal of property and equipment	25,255	53,277	4,293
Disposal of Short-term investment securities	1,065,688
Disposal of Long-term investment securities	526,710
- Related parties	500,000
- Non-related parties	26,710
Disposal of Short-term financial instruments	37,926
Disposal of other financial assets	1,157,094	334,987	4,135,728
Payments for short-term loans	(2,986,461)	(2,079,000)	(3,840,576)
- Related parties	1,626,460	1,834,000	3,690,576
- Non-related parties	(1,360,001)	(245,000)	(150,000)
Purchase of property and equipment	(114,734)	(273,220)	(949,583)
Acquisition of Long-term investment securities	(2,391,167)
Acquisition of Short-term financial instruments	(26,032)
Acquisition of other financial assets	(742,380)	(178,068)	(610,093)
Proceeds from Lease Incentives		1,486	150,150
Purchase of intangible assets	(13,823,661)
Payments for long-term loans	(21,000)		(1,000,000)
- Related parties			1,000
Acquisitions, net of cash acquired	3,508,608
Increase of cash from merger	146
Prepayment for acquisition of HANSOL INTICUBE Co., Ltd.	(3,000,367)
Net cash outflow from investing activities	(16,345,091)	(361,038)	(1,790,081)
Cash flows from financing activities
Proceeds from issuance of convertible notes, net of issuance costs	25,572,797
Proceeds from long-term borrowings	3,390,000
- Related parties	3,390,000
Proceeds from short-term borrowings	6,352,333	870,000	130,000
- Related parties	1,009,387	470,000	130,000
- Non-related parties	5,342,946	400,000
Repayment of current portion of long-term borrowings	(18,720)	(24,960)	(24,960)
Repayment of short-term borrowings	(3,410,294)	(394,000)
- Related parties	976,480	394,000
- Non-related parties	2,433,814
Issuance of new shares, net of investment withholdings	1,408,406
Acquisition of Treasury shares	(725,630)	(75,000)	(10,677,100)
Repayment of lease liabilities	(2,055,725)	(1,663,415)	(1,617,756)
Proceeds from Capital Reorganisation	62,655
Prepayment of Deposit for treasury stock repurchase	(284,776)
Net cash inflow(outflow) from financing activities	30,291,046	(1,287,375)	(12,189,816)
Effect of exchange rate changes on cash and cash equivalents	41,109	70,518	361,525
Net increase (decrease) in cash and cash equivalents	4,213,860	(4,505,580)	(22,357,447)
Cash and cash equivalents at beginning of the year	4,150,572	8,585,634	30,581,556
Cash and cash equivalents at end of the year	₩ 8,364,432	₩ 4,150,572	₩ 8,585,634

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - KRW (₩)
₩ in Thousands

Dec. 31, 2025

Dec. 31, 2024

Assets

Cash and cash equivalents

₩ 8,364,432

₩ 4,150,572

Short-term financial instruments

21,560

423,524

Accounts receivable — trade, net

4,380,886

9,210,441

- Related parties

2,051,987

1,983,270

- Non-related parties

2,328,899

7,227,171

Short-term loans, net

3,427,400

787,400

- Related parties

2,067,369

662,400

- Non-related parties

1,360,031

125,000

Accounts receivable — other, net

536,134

130,482

- Related parties

165,439

125,687

- Non-related parties

370,695

4,795

Value added tax receivables

162,558

Other current assets

5,844,544

664,632

Other current financial assets

735,110

40,000

Contract assets

1,065,645

- Related parties

517,518

- Non-related parties

548,127

Current tax assets

45,228

347,480

Inventories, net

1,612,302

818,324

Total current assets

26,195,799

16,572,855

Long-term financial instruments

310,908

322,538

Long-term loans, net

191,023

- Related parties

136,054

- Non-related parties

54,969

Long-term investment securities

3,983,858

730,391

- Related parties

300,000

- Non-related parties

3,683,858

730,391

Investments in associates

587,278

Property and equipment including right-of-use assets

7,055,228

12,049,988

Intangible assets other than goodwill

17,178,097

4,533,587

Goodwill

60,617,031

3,267,730

Investment properties

2,023,317

400,999

Other non-current financial assets

2,180,055

1,803,220

Other non-current non-financial assets

4,393,482

1,907,965

Deferred tax assets

1,016,960

1,011,013

Total non-current assets

99,537,236

26,027,431

Total assets

125,733,036

42,600,286

Liabilities

Trade and other payables

58,040,411

14,039,752

- Related parties

40,549,480

1,357,101

- Non-related parties

17,490,931

12,682,651

Other current financial liabilities

250,000

130,000

Current derivative liabilities

330,417

Warrants

528,772

Other current non-financial liabilities

1,936,895

1,443,694

- Related parties

285,490

- Non-related parties

1,651,405

1,443,694

Contract liabilities

1,252,195

- Related parties

75,506

- Non-related parties

1,176,689

Short-term borrowings

11,171,899

3,764,000

- Related parties

1,566,863

864,000

- Non-related parties

9,605,036

2,900,000

Current portion of long-term borrowings, net

2,200,000

2,108,956

- Related parties

2,200,000

2,090,236

- Non-related parties

18,720

Convertible Notes

28,634,020

- Related parties

2,956,091

- Non-related parties

25,677,929

Current lease liabilities

^[1]

1,702,300

1,786,577

Other current provisions

769,693

Current tax liabilities

1,634,666

108,961

Total current liabilities

108,451,267

23,381,940

Trade and other non-current payables

27,297,393

21,694

- Related parties

27,294,377

- Non-related parties

3,016

21,694

Long-term borrowings, excluding current portion, net

2,611,563

- Related parties

2,611,563

Other non-current financial liabilities

220,000

150,000

Other non-current non-financial liabilities

2,565

Non-current Contract liabilities

650,000

Defined benefit liabilities

1,257,693

559,270

Other non-current provisions

455,822

609,951

Non-current lease liabilities

6,268,969

9,302,661

Deferred tax liabilities

125,759

399,158

Total non-current liabilities

38,889,764

11,042,733

Total liabilities

147,341,032

34,424,673

Equity

Share capital

9,077

1,226

Share premium

205,980,674

498,774

Accumulated other comprehensive loss

(4,447,032)

181,516

Other reserves

(53,073,717)

(27,874,562)

Retained earnings(Accumulated Deficit)

(169,783,492)

35,959,433

Equity attributable to owners of the Parent Company

(21,314,489)

8,766,387

Non-controlling interest

(293,506)

(590,774)

Total equity

(21,607,996)

8,175,613

Total liabilities and equity

₩ 125,733,036

₩ 42,600,286

[1]

The interest rate related to lease liabilities reflects the incremental borrowing rate based on the Company’s credit. The amount of interest expense related to lease liabilities incurred during the year ended December 31, 2025 is Korean Won 543,208 thousand (December 31, 2024: Korean Won 851,543 thousand, December 31, 2023: Korean Won 1,047,738 thousand). Additionally, the amount of short-term lease payments and low-value assets lease payments not included in the measurement of lease liabilities during the twelve-month period ended December 31, 2025 are Korean Won 2,349,723 thousand (December 31, 2024: Korean Won 33,846 thousand, December 31, 2023: Korean Won 23,157 thousand).