Doosan Robotics Q3 sales fall 8.5% on quarter to KRW 16.2bn as loss stays 83% of revenue
Doosan Robotics reported preliminary third-quarter 2026 revenue of KRW 16.18 billion in a DART filing on Oct 29, down 8.5% from the second quarter and up 59.1% from a year earlier, with an operating loss of KRW 13.40 billion, equal to 83% of sales.
Nine-month revenue reached KRW 49.14 billion, already 149% of the cobot maker's 2025 total by MEKAWIRE's calculation, but the third quarter ends the sequential growth of the first half, and the net loss widened to KRW 18.30 billion on a KRW 5.2 billion non-operating charge the filing does not explain.
Doosan Robotics, the Doosan group's collaborative-robot maker, reported preliminary consolidated revenue of KRW 16.175 billion for July to September 2026 in a fair-disclosure filing with Korea's DART on Oct 29. Sales fell 8.5% from KRW 17.674 billion in the second quarter, the first sequential decline of the year, while they rose 59.1% from KRW 10.165 billion a year earlier.
The operating loss narrowed to KRW 13.404 billion from KRW 14.417 billion in the second quarter and KRW 15.265 billion a year earlier. The bottom line moved the other way. The loss before tax was KRW 18.629 billion and the net loss KRW 18.301 billion, 43.1% deeper than in the second quarter, so roughly KRW 5.2 billion of non-operating losses sat between the operating and pre-tax lines. The filing gives no breakdown; the company said detailed results will be posted on the investor page of doosanrobotics.com.
Nine months already beat 2025, the run rate does not
For January to September, revenue was KRW 49.144 billion, up 146% from KRW 19.977 billion, and the operating loss KRW 39.891 billion, 7.3% smaller than a year earlier, the filing shows. Subtracting the reported quarters gives a first quarter of KRW 15.295 billion in sales and a KRW 12.070 billion operating loss (MEKAWIRE calculation).
- Q1 2026
- 15,295
- 12,070
- 9,166
- 78.9%
- Q2 2026
- 17,674
- 14,417
- 12,792
- 81.6%
- Q3 2026
- 16,175
- 13,404
- 18,301
- 82.9%
- Q3 2025
- 10,165
- 15,265
- 12,858
- 150.2%
Source: DART filing 20261029800388. Q1 derived as nine-month totals minus Q2 and Q3 (MEKAWIRE calculation). As of Oct 29, 2026.
MEKAWIRE's records put Doosan Robotics' full-year 2025 revenue at KRW 32.98 billion, so nine months of 2026 already equal 149% of last year. Much of that jump came through Doosan Robotics Americas, the former Pennsylvania packaging integrator ONExia, which supplied 53% of first-half sales, as our Doosan Robotics explainer set out.
MEKAWIRE analysis
The third quarter shows Doosan Robotics has bought revenue, not yet a business that grows on its own: sales slipped while the loss ratio stayed above 80%.
Operating loss as a share of revenue was 78.9% in the first quarter, 81.6% in the second and 82.9% in the third (operating loss divided by revenue, each quarter from the filing). A company scaling into its cost base would show that ratio falling. The counter-argument is timing: cobot and packaging-cell orders are lumpy, and the absolute operating loss did shrink by KRW 1.0 billion on the quarter.
The balance of the year matters because of what management has just committed. In October alone the company named a new chief executive, Youngmin Kwon from Doosan Mottrol, hired former Hyundai autonomy chief Jang Woong-jun as CTO for an Agentic Robot OS due in 2027, won two government physical-AI projects worth KRW 98.9 billion in total budget, and pledged KRW 40 billion to a Doosan venture fund, about 1.2 times its first-half revenue. Rival Dobot grew 2025 revenue 31.7% to RMB 492.2 million on volume, a path Doosan has not yet shown outside the US.
What to watch: the quarterly report due by mid-November, which should explain the non-operating loss; the fourth quarter, when the company needs about KRW 16 billion a quarter just to hold the run rate; and the first customer contracts for the 2027 software products.
- DART preliminary results, Oct 29, 2026
- KRW 18.301bn (Q2: 12.792bn)
- KRW 16.175bn (-8.5% QoQ, +59.1% YoY)
- KRW 13.404bn (Q2: 14.417bn)
- KRW 49.144bn (+146%)
- Q1 78.9%, Q2 81.6%, Q3 82.9% (MEKAWIRE calc)