Neptune넵튠

Neptune's trailing results have swung to a steep loss, with the share price down about 63% over the past year.

Neptune, a Korean game developer and ad-tech operator, reported a trailing twelve-month net loss of ₩55.2B on revenue of ₩114.8B through H1 2026, with operating income close to break-even at about -₩0.2B. The share price closed at ₩2,245 on 2026-10-23, near the lower part of its 52-week range of ₩2,025 to ₩6,245. The data does not include a forward forecast or analyst view.

What stands out

• Trailing revenue of ₩114.8B is roughly flat versus the ₩122.5B reported for 2025, while the 2025 net loss was ₩40.2B after a ₩2.5B operating profit.
• The trailing net loss is far larger than the operating result, so the gap is driven by items below operating income that the data does not explain.
• Trailing free cash flow is positive at ₩10.4B and cash is ₩26.7B against borrowings of ₩1.65B, with liabilities at 13.7% of equity.
• The stock trades at 0.3x book value and 0.9x sales, with no meaningful earnings multiple because earnings are negative; no dividend is paid.
• Foreign ownership fell from 2.3% to 1.7% over about 60 days, and 20-day flows show net foreign selling.

What to watch

• The next periodic results and any explanation of the large gap between operating and net loss in the filings.
• Further filings on stock option grants, treasury share sales and share cancellation, which relate to share count.
• Whether the company announces new game launches or acquisitions; the recent news list is empty, so no catalysts are confirmed in the data.