PER, EPS, PBR and BPS are calculated in-house from the last 4 quarters (2025Q3–2026Q2) · Dividend yield is based on ₩0 per share · Prices as of the 2026-10-02 close
Adult education company Day1 Company turned profitable on an annual basis in 2025 but swung back to an operating loss in the second quarter of 2026, a period that also saw both its push into enterprise AI transformation (AX) and a large-scale personal data breach.
In 2025, consolidated revenue was KRW 123.86 billion and operating profit was KRW 4.57 billion (3.7% margin), turning profitable after a 2024 operating loss.
In Q2 2026, revenue was KRW 26.79 billion with an operating loss of KRW 3.04 billion, the only loss quarter in the trailing four-quarter window.
The company acquired enterprise AX firm Spacewy and launched the 'DAY1 AI Deployment Company' business, running a public hiring drive for around 100 professionals.
A May-June 2026 breach stemming from a stolen GitHub master account key exposed names and contact information, with possible additional exposure of bank account and passport data later confirmed.
The debt ratio improved from -212.1% to 157.8% to 80.3% across 2023-2025, reflecting a reworked capital structure around the listing.
Day1 Company plans, develops, and distributes learning content for adults, organizing its business into four areas: individual (B2C), corporate (B2B), government-affiliated institutions (B2G2C), and overseas (Global).
Its flagship brands include Fast Campus for AI and digital practical training, Colosso for design, video, beauty, and culinary fields, Zero Base for IT and large-corporate job-linked bootcamps, and MyLight and PODO.
As of 2024, the domestic B2C segment generated KRW 77.8 billion and drove revenue growth, while combined B2B/B2G revenue was KRW 34.8 billion and overseas business was KRW 15.1 billion, roughly 12% of total revenue.
The B2B business applies an original-source, multi-use strategy to provide customized corporate training and online subscription services, while B2G2C participates in government digital-talent programs such as K-Digital Training.
The company recently acquired enterprise AX firm Spacewy and launched a new 'DAY1 AI Deployment Company' business that combines its existing education capabilities with AI agent-building and field deployment (FDE) capabilities.
In March 2026 it also shifted to a co-CEO structure under Shin Hae-dong and Kim Dong-hyuk, with former CEO Lee Kang-min moving to Chief AI Officer to lead an organizational restructuring.
However, a system intrusion first occurring in May 2026 led to a large-scale personal data breach recognized in early June, exposing names, emails, phone numbers, and encrypted passwords, with subsequent investigation confirming possible additional exposure of bank account and passport information, leaving trust recovery as an outstanding task.
| Quarter | Revenue | Operating profit | Op. margin |
|---|---|---|---|
| 2025Q2 | ₩29.2B | ₩400M | 1.4% |
| 2025Q3 | ₩33.7B | ₩3.4B | 10.2% |
| 2025Q4 | ₩33.9B | ₩2B | 6.0% |
| 2026Q1 | ₩30.3B | ₩400M | 1.3% |
| 2026Q2 | ₩26.8B | -₩3B | −11.4% |
| Year | Revenue | Operating profit | Net income (parent) | Op. margin | ROE | Debt-to-equity |
|---|---|---|---|---|---|---|
| 2023 | ₩116.6B | ₩1.1B | -₩7.9B | 1.0% | — | −212.1% |
| 2024 | ₩127.7B | -₩300M | -₩1.6B | −0.2% | −6.8% | 157.8% |
| 2025 | ₩123.9B | ₩4.6B | ₩4.7B | 3.7% | 10.5% | 80.3% |
Consolidated basis (financial statements including subsidiaries) · Final figures from DART filings · Net income attributable to owners of the parent · Data as of 2026-09-05
On an annual basis, 2023 revenue was KRW 116.59 billion with operating profit of KRW 1.12 billion (1.0% margin), yet net income showed a large loss of KRW -7.91 billion.
In 2024, despite revenue rising to KRW 127.68 billion, the company swung to an operating loss of KRW -0.29 billion and a net loss of KRW -1.61 billion.
In 2025, revenue declined slightly to KRW 123.86 billion, but operating profit reached KRW 4.57 billion (3.7% margin) and net income was KRW 4.74 billion, marking a full-year turnaround to profitability.
On a quarterly basis, Q2 2025 showed low profitability with revenue of KRW 29.18 billion and operating profit of KRW 0.41 billion (about 1.4% margin), before improving sharply in Q3 to revenue of KRW 33.70 billion and operating profit of KRW 3.43 billion (about 10.2% margin), with the profitable trend continuing into Q4 at revenue of KRW 33.88 billion and operating profit of KRW 2.02 billion (about 6.0% margin).
However, Q1 2026 reverted to low profitability with revenue of KRW 30.32 billion and operating profit of KRW 0.39 billion (about 1.3% margin), and Q2 2026 saw revenue decline to KRW 26.79 billion alongside an operating loss of KRW -3.04 billion and a net loss of KRW -3.16 billion, the only loss quarter in the trailing four-quarter window.
This period overlaps with the disclosure and investigation of the large-scale personal data breach that occurred in May-June, though the extent to which the revenue decline and widened loss relate to one-off costs or breach-response factors is not yet clearly delineated in disclosures.
On the cash flow side, operating cash flow remained positive at KRW 13.45 billion in 2023, KRW 3.00 billion in 2024, and KRW 8.28 billion in 2025, a notable feature given net losses in two of those years.
The adult vocational education market in Korea has grown on the back of re-employment and job-transition demand as well as expanding corporate budgets for digital talent development, with AI proficiency recently emerging as a core driver of demand.
As of 2025, AI-related training accounted for 56.7% of corporate on-site training revenue, surpassing half, and demand for training using internal company data also rose sharply year over year.
Amid this shift, Day1 Company is expanding beyond education into the AX market that supports companies' entire AI adoption process, applying the field-deployed-engineer (FDE) model used by Palantir in the U.S. to domestic large-corporate projects through its acquisition of Spacewy.
In terms of competitive landscape, startups such as Learning Spoons and Codeit as well as established education firms such as Cleverse and Junior JLS compete in similar markets, while numerous domestic and global AI solution and consulting firms are rapidly entering the enterprise AX space, intensifying competition.
Day1 Company aims to leverage its existing base of over one million members and established training relationships with large corporations as a springboard for AX sales, though performance validation in this market remains at an early stage.
Meanwhile, the personal data breach that occurred in the first half of 2026 spread into a broader industry trust issue around security, prompting corporate clients to increase scrutiny of outsourced training vendors' security management systems.
In August 2026, the company officially launched its 'DAY1 AI Deployment Company' business, stating it would build a system supporting the full range of AX diagnosis and strategy formulation, training and change management, AI technology deployment, field application, and operation and scaling, and is conducting a public hiring drive of about 100 specialists for this purpose.
The company has indicated it would consider spinning the business off into a separate legal entity in the future once execution capability, scale, and independence are sufficiently secured.
Spacewy reportedly achieved a 100% contract renewal rate on AX projects for major domestic corporations prior to the acquisition, raising the prospect of cross-selling with Day1's existing education client base.
Organizationally, the shift to a co-CEO structure in March 2026 is intended to consolidate a previously brand-fragmented business structure and improve execution.
However, the exact scale of damage and compensation plan from the personal data breach have not yet been finalized, with the company stating it would prepare a compensation plan once the extent of the breach is confirmed.
On the global front, expansion into Japan and the U.S. as of 2025 was followed by mentions of further expansion into Taiwan and Europe, though the latest progress requires further confirmation.
The relationship between the company's share price and its net asset value has generally traded in a range close to book value, making it difficult to conclude that a distinct premium or discount is firmly established.
On the earnings side, the direction shifted from a full-year net loss in 2024 to full-year net profit in 2025, and then reversed again within 2026 from a modest first-quarter profit to a second-quarter loss, with this quarter-to-quarter volatility acting as a key variable in valuation interpretation.
On the dividend side, the company has not yet implemented a cash dividend, so no shareholder-return metric via dividends has been established.
Given that recent years of earnings volatility have coincided with both a new AX business initiative and a security-incident issue, the value the market assigns to this company can be seen as a range that will depend on whether the core education business's stable profitability is restored and how the new AX business's early performance is validated.
PER, EPS, PBR and BPS are all calculated in-house (the same method as Naver and Toss) · Dividend yield = cash dividend per share from DART filings (supplemented by KRX) ÷ current price · As of 2026-09-05
In 2025, consolidated operating profit reached KRW 4.57 billion and net income KRW 4.74 billion, turning profitable from a 2024 loss. The debt ratio also steadily declined from -212.1% in 2023 to 157.8% in 2024 and 80.3% in 2025, stabilizing the capital structure around the listing. Operating cash flow remained positive across all three most recent years, supporting the quality of earnings.
Through the acquisition of enterprise AX firm Spacewy, the company is expanding beyond its existing education business into the market supporting corporate AI deployment and field application. Spacewy reportedly achieved a 100% contract renewal rate on projects for domestic large corporations before the acquisition.
The existing base of over one million education members and large-corporate clients could serve as a cross-selling foundation for the new business.
As of 2025, AI training accounted for 56.7% of corporate on-site training revenue, surpassing half, with demand for training using internal company data also rising significantly. The company is responding by expanding new programs such as AI workshops, hackathons, and leadership training.
This trend could provide a favorable environment for both existing B2B education revenue and the new AX business.
Operating profit, which had improved to KRW 3.43 billion in Q3 2025, swung sharply to KRW 0.39 billion in Q1 2026 and then to a loss of KRW -3.04 billion in Q2 2026. Revenue also declined from KRW 33.88 billion in Q4 2025 to KRW 26.79 billion in Q2 2026, suggesting a loss of growth momentum. This can be read as a signal that the annual turnaround to profit has not yet stabilized on a quarterly basis.
Following an initial intrusion in May 2026, the breach disclosed in June revealed not only names and contact details but also confirmed possible additional exposure of financial and identity information such as bank account and passport numbers.
The impact reportedly extended to corporate training participants at large firms including Samsung Electronics. The exact scale of damage and compensation plan remain unconfirmed, which could translate into future cost and trust burdens.
Financial investors that participated in the Series D round, including Hanwha Life and Mirae Asset Securities, reportedly invested at relatively high valuations before listing, and it has been noted that continued post-listing earnings weakness has made it difficult for them to recoup their investments. This could translate into future pressure for share disposals or diminished market confidence.
The breach, triggered by the theft of a GitHub master account key, saw the scope of exposed information continue to expand as the investigation progressed.
Depending on the findings of the data protection authority's investigation, fines or administrative sanctions could be imposed, and victim compensation costs have not yet been finalized. Diminished security credibility as an outsourced training vendor could lead to B2B client attrition.
The AX business remains at an early stage following the Spacewy acquisition, with execution of the planned 100-person hiring and organizational integration a key variable.
Numerous domestic and international competitors are rapidly entering the enterprise AI transformation market, and failure to achieve differentiated results could delay returns relative to investment costs.
Domestic B2C education demand tends to be sensitive to employment market conditions and corporate training budget allocations.
With revenue slowing in Q1-Q2 2026 relative to prior quarters, weaker growth momentum in the core business could also strain the cash-generating capacity needed to support new business investment.
Q3 2026 earnings are expected to be disclosed — key to check whether the Q2 loss was a one-off factor and whether revenue and profitability recover again.
Worth monitoring whether the company discloses initial orders or revenue contribution from DAY1 AI Deployment Company, and the progress of the 100-person hiring plan.
The findings of the data protection authority's investigation, confirmation of a victim compensation plan, and the scale of related costs should be checked.
Disclosure of full-year FY2026 results — the key check is whether the 2025 profit turnaround is sustained on a full-year basis in 2026.
Day1 Company turned both operating profit and net income positive on a full-year basis in 2025 while sharply lowering its debt ratio, improving its capital structure since listing.
In 2026, however, quarter-to-quarter volatility became pronounced with low profitability in Q1 and a loss in Q2, and the large-scale personal data breach that occurred during this period remains an ongoing issue with the scale of damage and a compensation plan still unconfirmed.
At the same time, the company stands at a turning point, expanding beyond its existing education business into the enterprise AX market through the Spacewy acquisition and the launch of 'DAY1 AI Deployment Company.' Whether the core B2C/B2B education business can restore stable profitability, how the new AX business performs in its early stages, and how the security incident's aftermath is resolved are variables that will jointly influence future earnings and market assessment.
Dividends have not yet been implemented, so no shareholder-return reference metric has been established. Investors should monitor both the next quarterly earnings disclosure and follow-up disclosures related to the new business and the security incident.
Report written 2026-09-05 · Data as of 2026-09-04
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