Catcher Technology (2474) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was NT$3.774bn, down 13.5% quarter-over-quarter and 13.2% year-over-year, mainly due to component shortages and weaker shipments, partially offset by medtech contributions.

• Net profit after tax was NT$1.484bn, a decrease of 37.6% quarter-over-quarter and 48.7% year-over-year.

• Basic EPS for Q1 2026 was NT$2.63, compared to NT$3.93 in 4Q25 and NT$4.43 in Q1 2025.

• Gross margin declined to 28.8%-29%, down from 33.0% in 4Q25 and 35.0% in Q1 2025, reflecting weak revenue and higher R&D expenses.

Financial highlights

• Operating margin fell to 6.5%, down 7.2pp quarter-over-quarter and 12.5pp year-over-year.

• EBITDA for Q1 2026 was NT$0.653bn, down from NT$1.103bn in 4Q25 and NT$1.250bn in Q1 2025.

• Net FX gains of NT$222mn and net interest income of NT$1.395bn supported non-operating income.

• Cash and cash equivalents at quarter-end were NT$16,182.9 million, down from NT$30,367.4 million a year earlier.

• Free cash flow was negative NT$491mn in Q1 2026, compared to positive NT$599mn in Q1 2025.

Outlook and guidance

• Focus on long-term growth through diversification into medtech, semiconductor, and aerospace sectors.

• Ongoing investments in R&D and global production capacity to maintain market leadership.

• Strategic expansion in ASEAN, with new facilities in Thailand and Vietnam scheduled for ramp-up in 2026-2027.

• Management continues to focus on sustainable operations and long-term development, with a dividend policy emphasizing stability and growth.

• IFRS 18 adoption is planned for 2028, with ongoing assessment of impacts on financial reporting.