Neuromeka's third-quarter operating loss grows to 7 billion won as sales fall 38%

Neuromeka's operating loss in the third quarter rose to 7 billion won, about 2.2 times the 3.2 billion won a year earlier, according to its quarterly report. Sales fell 37.8% to 2.8 billion won, and the net loss grew from 4.3 billion to 7.3 billion won.

Selling and administrative costs rose 82.1% to 7.1 billion won. Sales of products, which include finished robots and robot parts, fell 52.9% to 1.6 billion won, while sales of automation solutions stayed at 1.1 billion won. Spending on research and development fell 29.3% to 4.1 billion won, which is still more than the company's total sales.

In August the company raised 78.2 billion won by selling new shares, of which 48.1 billion won is for investment in facilities. Its debt ratio fell from 557.6% to 43.1%.

Neuromeka is working on industrial humanoid robots and a robot foundry that builds robots developed by other companies. It is testing its humanoid EIR in several manufacturing processes, including a production line for electric motors.