Inswave Income Statement

Financials in millions KRW. Fiscal year is January - December.

Millions KRW. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Revenue	38,369	30,413	32,604	43,630	32,608
Other Revenue	-	-	-0	-	-
Revenue	38,369	30,413	32,604	43,630	32,608
Revenue Growth (YoY)	16.73%	-6.72%	-25.27%	33.80%	-
Cost of Revenue	24,944	19,373	16,592	27,116	20,329
Gross Profit	13,425	11,040	16,012	16,514	12,279
Selling, General & Admin	9,429	7,095	6,612	6,010	5,822
Research & Development	6,175	5,915	3,299	2,808	2,031
Amortization of Goodwill & Intangibles	123.06	88.86	134.25	125.39	156.48
Other Operating Expenses	143.69	122.29	130.92	118.41	91.95
Operating Expenses	18,786	14,634	10,831	9,474	7,978
Operating Income	-5,360	-3,593	5,181	7,039	4,302
Interest Expense	-380.33	-441.96	-403.74	-603.07	-263.15
Interest & Investment Income	665.79	781.9	309.19	6.74	3.18
Currency Exchange Gain (Loss)	30.01	70.94	1.83	36.4	-0.31
Other Non Operating Income (Expenses)	35.29	83.32	18.24	-110.63	88.82
EBT Excluding Unusual Items	-5,010	-3,099	5,107	6,369	4,130
Gain (Loss) on Sale of Investments	-122.11	-	-0.08	-38.93	0.74
Gain (Loss) on Sale of Assets	-5.31	224.19	29.67	-26.17	920.29
Asset Writedown	-	-	-	-2.77	-147.95
Pretax Income	-5,137	-2,875	5,136	6,301	4,903
Income Tax Expense	-749.83	-914.72	416.06	909.12	481
Net Income	-4,387	-1,960	4,720	5,392	4,422
Net Income to Common	-4,387	-1,960	4,720	5,392	4,422
Net Income Growth	-	-	-12.46%	21.92%	-
Shares Outstanding (Basic)	17	15	12	10	10
Shares Outstanding (Diluted)	17	15	13	12	12
Shares Change (YoY)	873.73%	15.40%	10.09%	0.02%	-
EPS (Basic)	-260.15	-133.31	383.96	562.19	461.26
EPS (Diluted)	-260.15	-133.31	376.75	531.79	387.96
EPS Growth	-	-	-29.16%	37.07%	-
Free Cash Flow	-9,914	-6,619	3,509	-260.91	-3,267
Free Cash Flow Per Share	-587.84	-450.14	275.41	-22.54	-282.32
Gross Margin	34.99%	36.30%	49.11%	37.85%	37.66%
Operating Margin	-13.97%	-11.82%	15.89%	16.13%	13.19%
Profit Margin	-11.43%	-6.44%	14.48%	12.36%	13.56%
Free Cash Flow Margin	-25.84%	-21.76%	10.76%	-0.60%	-10.02%
EBITDA	-3,376	-2,195	5,798	7,548	4,654
EBITDA Margin	-8.80%	-7.22%	17.78%	17.30%	14.27%
D&A For EBITDA	1,984	1,398	617.1	509.08	352.01
EBIT	-5,360	-3,593	5,181	7,039	4,302
EBIT Margin	-13.97%	-11.82%	15.89%	16.13%	13.19%
Effective Tax Rate	-	-	8.10%	14.43%	9.81%
Advertising Expenses	-	215.98	211.17	129.74	97.99

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.