ITCEN PNS said on Wednesday it recorded first-half 2026 consolidated revenue of 118.5 billion won and standalone revenue of 11.9 billion won.

Consolidated revenue fell 10.7 percent from 132.7 billion won a year earlier. The company said the decline was due to revenue recognition for some major projects being deferred to the second half. It posted a first-half consolidated operating loss of 1.7 billion won, swinging from an operating profit of 400 million won a year earlier.

On a standalone basis, revenue rose about 10 percent to 11.9 billion won from 10.8 billion won in the first half of last year, continuing revenue growth in areas such as security and authentication. Gross margin improved to 15.1 percent from 13.5 percent. The company said standalone operating loss widened to 1.1 billion won from 800 million won as selling, general and administrative expenses increased from a year earlier due to an expansion of new businesses.

ITCEN PNS plans to focus on improving results in the second half through revenue recognition for deferred projects and profitability management by business.

CEO Won-gyu Park (박원규) said, "In the second half, we will focus on reflecting deferred project revenue and managing profitability, while accelerating PQC certification and cryptographic transition businesses centered on global security, AI security and EdgeCS to strengthen the growth foundation of existing businesses and continue to expand new growth opportunities in the next-generation security market."