MX Robotics엠엑스로보틱스

MX Robotics is loss-making on a trailing basis, with revenue falling, a rights offering and a CEO change in recent filings.

The company designs and builds automated warehouse and factory logistics systems, and its trailing twelve-month results to H1 2026 show revenue of ₩117.7B, an operating loss of ₩12.8B and a net loss of ₩9.2B. Revenue has declined for two straight years after a strong 2022 to 2023 period, and the shares are down 33.1% over one year, trading at ₩2,885 against a 52-week range of ₩2,475 to ₩7,580.

What stands out

• Trailing operating margin is -10.9% and net margin is -7.8%, after a small operating profit in 2024 and losses in 2025.
• Trailing free cash flow is negative at ₩7.8B, and borrowings of ₩28.5B exceed cash of ₩8.8B.
• Liabilities are 129.5% of equity and ROE is -16.4%.
• Valuation shows a P/B of 1.3 and P/S of 0.6, with no P/E because earnings are negative; the company pays no dividend.
• Recent filings include a rights offering decision, a shareholders' meeting, a change of CEO and an amended sales contract disclosure.
• Foreign ownership is 2.7%, down slightly from 2.8% sixty days earlier, and no recent news headlines were provided.

What to watch

• Terms, size and pricing of the rights offering and how it affects share count and the balance sheet.
• Whether the new CEO and the amended major contract disclosure lead to a return to operating profit; the data does not give company guidance.
• The next half-year or annual results, given the trailing losses and debt levels.