Curexo큐렉소

Curexo's trailing profit has turned positive after losses in 2021 to 2024, but the share price has fallen sharply over the past year.

Curexo, a Korean medical robotics maker focused on orthopedic surgical robots, reported trailing twelve-month revenue of ₩77.7B and net income of ₩5.5B to H1 2026, with ₩16.7B in cash and modest borrowings of ₩0.4B. The shares closed at ₩7,200 on 2026-10-23, down 35.3% over one year and near the bottom of their 52-week range.

What stands out

• Revenue rose 34.2% in 2025 to ₩74.5B, and operating margin moved to 3.2% from a loss of 10.5% in 2024.
• Trailing net margin of 7.1% is well above the operating margin of 4.2%, but the data does not explain what drove the gap, so the profit mix is unclear.
• Trailing free cash flow is only ₩83M against ₩77.7B of revenue, so cash generation is thin.
• Valuation is high on earnings: trailing P/E is 53.9 and P/B is 2.9, while the data's DCF fair value base case is ₩28, far below the share price.
• Foreign ownership fell from 5.5% to 5% over 60 days, and institutions were net sellers over the last 20 days, while retail investors were net buyers.
• Recent filings are mostly governance items, including an extraordinary shareholders' meeting and independent director changes, and a news item says the company will unveil a spine surgery robot at a North American conference.

What to watch

• The next half-year or annual results, to see whether profitability holds after the swing to net profit.
• Outcomes of the shareholders' meeting and the independent director changes filed in September 2026.
• The commercial reception of the spine robot shown at the North American Spine Society meeting; the data does not give any sales targets.