EOFlow이오플로우

EOFlow's filings show heavy losses, shrinking 2025 revenue, and a pending KOSDAQ listing-eligibility review alongside new capital-raising steps.

EOFlow makes EOPatch, a disposable wearable insulin pump sold in South Korea and Europe, and is developing drug delivery systems for pharmaceutical partners. Its 2025 filed results show revenue of ₩3.7B, down 30%, with an operating loss of ₩22.2B and a net loss of ₩42.3B. Recent filings center on a rights offering, a ₩10B convertible bond, and a KOSDAQ improvement plan tied to listing eligibility.

What stands out

• 2025 revenue fell to ₩3.7B from ₩5.2B in 2024, and losses narrowed from ₩87.2B to ₩42.3B at the net level.
• The trailing figures through H1 2026 show revenue of only ₩2.0B but operating income of ₩79.9B and net income of ₩61.8B, which does not match the annual losses. The data does not explain the difference, so it should be checked against the filings before drawing conclusions.
• Cash of ₩3.1B is well below borrowings of ₩8.0B, and free cash flow on a trailing basis was negative ₩17.1B.
• Filings and news show a rights offering amended several times, a convertible bond issue worth ₩10B, and a KOSDAQ committee decision granting an improvement period on listing eligibility.
• Market capitalisation is about ₩62.3B at ₩1,490 a share. Share price returns for 1 month, 3 months and 1 year are shown as 0%, and 52-week high and low values are not available in the data.
• Foreign ownership is 20.9%, unchanged over 60 days, and short balance is 0.8%.

What to watch

• Outcome of the KOSDAQ listing-eligibility review and the granted improvement period, which the filings place under a trading halt on 8 October.
• Final terms and dilution from the rights offering and the ₩10B convertible bonds, which could affect the share count.
• Details of the lawsuit listed in filings, which the data does not describe, and any effect on finances.
• Upcoming results and whether cash can cover borrowings and negative free cash flow; the data does not include forecasts.