DEEP RESEARCH · S&S TECH PRELIMINARY RESULTS

[S&S Tech] Q1 2025 Preliminary Results

A review of operating leverage, with profit increasing sharply relative to revenue growth

Written: 2025-04-23 · Preliminary earnings review · Naver Blog

Investment decisions are your own responsibility. This material is research and is not a recommendation to buy or sell.

0. Bottom line first

S&S Tech disclosed Q1 2025 preliminary results of KRW 57.9 billion in revenue, KRW 11.9 billion in operating profit, and KRW 12.0 billion in net income. Revenue rose by KRW 12.7 billion from the prior quarter, while operating profit rose by KRW 7.9 billion, which is why the original note reads this as an operating-leverage phase.

Interpretation: Profit increased meaningfully relative to the increase in sales. This is a quarter to check whether the company has moved into a revenue zone where fixed-cost leverage starts to show.

1. Key disclosure numbers

Official fact: The source lists S&S Tech's market capitalization as KRW 761.5 billion. The disclosure type is a fair disclosure of preliminary operating results based on consolidated financial statements. The source timestamp is 2025-04-23 10:34:23, with the share price shown as KRW 35,500, 0%.

Item	Q1 2025 preliminary result	Estimate
Revenue	KRW 57.9B	-
Operating profit	KRW 11.9B	-
Net income	KRW 12.0B	-

Q1 2025 result structureA quarter where incremental revenue converted strongly into profit

RevenueKRW 57.9B

Operating profitKRW 11.9B

Net incomeKRW 12.0B

Market capKRW 761.5B

Operating profit increased sharply versus the prior quarter's revenue increase

2. Recent earnings trend

Quarter	Revenue	Operating profit	Net income	OP vs. estimate
Q1 2025	KRW 57.9B	KRW 11.9B	KRW 12.0B	-
Q4 2024	KRW 45.2B	KRW 4.0B	KRW 6.6B	0%
Q3 2024	KRW 46.6B	KRW 9.6B	KRW 8.2B	+14%
Q2 2024	KRW 42.4B	KRW 8.5B	KRW 7.8B	+9%
Q1 2024	KRW 41.8B	KRW 7.4B	KRW 7.7B	+0%

QoQ

Revenue +KRW 12.7B

Revenue increased from KRW 45.2B in Q4 2024 to KRW 57.9B in Q1 2025.

QoQ

Operating profit +KRW 7.9B

Operating profit rose sharply from KRW 4.0B in Q4 2024 to KRW 11.9B in Q1 2025.

Key

Operating leverage check

The next issue is whether this conversion of incremental revenue into profit can repeat.

3. Links and original image

Disclosure link: https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20250423900095

Company information: https://finance.naver.com/item/main.nhn?code=101490

S&S Tech Naver Pay Securities link thumbnail

Sources

Naver Blog original: https://m.blog.naver.com/PostView.naver?blogId=star_of_self&logNo=223843575546
DART disclosure: https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20250423900095
Naver Pay Securities company page: https://finance.naver.com/item/main.nhn?code=101490

Naver original