Softcamp Reports 700 Million KRW Operating Loss in Q1 Due to Increased Service Development Staff

[Asia Economy Reporter Minji Lee] Softcamp announced on the 14th that it recorded a temporary operating loss in the first quarter due to an increase in development personnel following the launch of its security cloud service.

Softcamp reported a consolidated operating loss of 757 million KRW and a net loss of 650 million KRW in the first quarter, turning to a deficit. Sales decreased by 12.9% to 3.254 billion KRW.

The company explained that the temporary decline in performance was due to the essential increase in development personnel for the security cloud service. Specifically, outsourcing development costs for remote work services and the web browser isolation service, SHIELDEX Remote Browser, were reflected.

Baehwankuk, CEO of Softcamp, stated, “The investment that inevitably accompanies the launch of new products had a temporary impact,” adding, “Through the free trial of the security cloud service in the first half of this year, it will naturally lead to purchases and be reflected in future performance.”