Innosimulation이노시뮬레이션

Innosimulation's revenue rebounded in 2025 and H1 2026, but the company is still loss-making at the operating and net level.

Innosimulation, a Korean maker of simulation and digital twin systems for defense, automotive and other sectors, reported trailing twelve-month revenue of ₩12.0B to H1 2026 against an operating loss of ₩1.9B and a net loss of ₩2.7B. Its share price is ₩2,005, down 49.8% over one year and well below its 52-week high of ₩4,515, though above its low of ₩1,738. Recent filings and headlines point to a steady flow of supply contracts, including a ₩2.1B defense training order in October 2026.

What stands out

• Revenue rose 52.7% in 2025 to ₩14.3B after falling 52% in 2024, but losses remain large: TTM operating margin is -16% and net margin is -22.1%.
• Free cash flow over the trailing twelve months was positive at ₩427M, and cash stood at ₩2.7B, while liabilities are 93.5% of equity.
• Price-to-book is 0.6 and price-to-sales is 1.5, but P/E cannot be calculated because earnings are negative; the data includes no fair value model or analyst targets.
• Market capitalisation is about ₩18.2B. Foreign ownership fell from 2.9% to 2.5% over 60 days, and foreign investors were net sellers over the last 20 days.
• Filings show several major sales or supply contracts in July to October 2026, and the company pays no dividend.

What to watch

• The full-year 2026 results and the next quarterly report, given the continuing operating and net losses.
• Whether the recent contract flow (defense and automotive simulators) continues and converts into revenue.
• Foreign shareholding trends and the share price, which has fallen sharply over the past year; the data does not state any specific risk events beyond these.