i-Scream Edu아이스크림에듀

i-Scream Edu trades at ₩527 after a steep one-year fall, with trading halts, delisting notices and a tender offer in the filings.

The edtech company, which sells the Iceum Homerun home learning program by subscription, reported trailing twelve-month revenue of ₩83.9B and operating income of ₩6.8B through H1 2026, but a net loss of ₩2.1B. Its share price is down 71% over one year, and recent filings and news center on trading halts and delisting risk rather than operating results.

What stands out

• Trailing twelve-month operating margin is 8.1%, a turnaround from operating losses in 2023 and 2024, though net income is still negative at -₩2.1B.
• Revenue has fallen for three straight years, from ₩133.8B in 2022 to ₩91.6B in 2025, and the trailing figure is ₩83.9B.
• Cash of ₩11.8B exceeds borrowings of ₩4.1B, and trailing free cash flow is ₩9.4B; the data gives a price-to-book of 0.2 and an enterprise value below zero.
• Recent filings include several delisting notices, trading halts on October 22 and 23, a tender offer prospectus and results, and 5%+ holding reports.
• News headlines from October 21 and 22 raise the possibility of delisting, including suspicion of 'intentional delisting', and describe the company as at risk of becoming the first education-sector company delisted.

What to watch

• Whether the trading halts lift and how the share price responds, given the one-month return of -55.3%.
• Progress on the delisting process and the outcome of the tender offer named in the filings.
• Next periodic results, since the data includes no forward estimates, and whether revenue decline continues.