Wiwynn (6669) Q1 2026 earnings summary

Executive summary

• Net revenue for Q1 2026 was NT$276,508 million, up 62.0% year-over-year, with profit after tax of NT$14,114 million, a 44.1% increase.

• Gross margin was 7.6%, slightly higher than the previous quarter but down from 8.7% in Q1 2025.

• EPS for Q1 2026 was NT$75.95, up from NT$52.70 in Q1 2025.

• Major sales were concentrated in America (78%), with significant growth in Europe and Asia.

• The company disposed of its remaining stake in LiquidStack, recognizing a gain of NT$612 million.

Financial highlights

• Net revenue decreased 5.4% from Q4 2025 but increased 62.0% from Q1 2025.

• Operating income was NT$17,458 million, up 45.7% year-over-year.

• Cash and cash equivalents at period end were NT$71.0 billion, down from NT$89.9 billion at year-end 2025.

• Total assets grew to NT$432,576 million, up from NT$338,200 million at year-end 2025.

• Total equity rose to NT$140,164 million, up 12% sequentially and 42% year-over-year.

Key financial ratios and metrics

• Operating margin for Q1 2026 was 6.3%, up from 5.6% in Q4 2025 but down from 7.0% in Q1 2025.

• Net profit margin was 5.1% for Q1 2026, compared to 4.7% in Q4 2025.

• Current ratio was 1.53 at Q1 2026.

• Accounts receivable turnover improved, with significant factoring activity.

• Cash position at quarter-end was NT$70,996 million, down 21% sequentially but up 51% year-over-year.