GemVax FY 2025 Annual Report
Beta

Filed: March 20, 2026· period ending December 31, 2025DART

GemVax annual report for FY 2025, filed with DART (Korea Financial Supervisory Service) on March 20, 2026. This page provides AI-powered English analysis including business overview, management discussion & analysis (MD&A), risk factors, and KIFRS consolidated financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE).

GemVax FY 2025 Annual Report Analysis

Business Overview

• Chemical Air Filter and license contract revenues KRW 70.0B (85.9%) and KRW 11.5B (14.1%) respectively in FY2025
• GV1001 license-out for progressive supranuclear palsy covering Korea, Japan, India, Indonesia started Dec 5, 2025, total KRW 220B contract

Management Discussion & Analysis

• Revenue KRW 81.53B (+30.05% YoY), operating profit KRW 3.79B (from loss KRW -38.34B), net income break-even from loss KRW -87.09B
• Environmental pollution control segment revenue KRW 7B, up 7.5% YoY driven by booming semiconductor industry demand

Risk Factors

• FX exposure 5% move → ±KRW 428M pre-tax impact on cash, receivables, payables in USD, JPY, SGD, CNY, EUR
• Short-term financial liabilities due within 1 year KRW 64.1B, total contract liabilities KRW 74.5B at fiscal year-end

GemVax FY 2025 Key Financial Metrics
DART

Total Assets

KRW 158.9B

▲ +5.4% YoY

Operating Cash Flow

KRW 1.1B

▲ +103.9% YoY

CapEx

KRW 997.2M

▼ -71.4% YoY

Source: KIFRS consolidated financial data from GemVax annual report on DART. All figures in KRW.

Source: DART (Korea Financial Supervisory Service) · AI summaries generated from the original Korean filing (English output) · Beta: coverage is expanding