Vaiv바이브컴퍼니

Vaiv's shares have fallen sharply over the past year as losses remain deep and revenue keeps shrinking.

Vaiv, a Korean AI and big data software company, reported trailing twelve-month revenue of ₩15.5B to H1 2026 and an operating loss of ₩1.2B, with a net loss of ₩21.3B. Revenue has declined for several years, from ₩44.2B in 2021 to ₩14.7B in 2025, and the company has ₩4.5B in cash and no borrowings. The share price closed at ₩1,567 on 2026-10-19, down 60.8% over one year.

What stands out

• Trailing revenue fell about 31.7% in 2025, and the operating margin was -22.4% for that year, showing losses persisting well beyond the sales decline.
• The net loss of ₩21.3B in the trailing period is far larger than the operating loss of ₩1.2B, and the data does not explain the gap.
• The balance sheet shows ₩4.5B in cash, no borrowings and liabilities at 50.2% of equity, while free cash flow was negative at about ₩1.1B.
• Valuation metrics are mixed: price-to-book is 0.5 and price-to-sales is 1.3, but there is no meaningful P/E because earnings are negative, and no fair value model is provided.
• Recent filings include a major sales or supply contract (2026-08-14), several exchange inquiries about news reports or price moves, and an amended half-year report. The news headlines list is empty, so the data does not show press coverage of these events.

What to watch

• The next half-year or quarterly results, to see whether revenue stabilises and losses narrow from the H1 2026 level.
• Details of the August 2026 major sales contract and whether it contributes to revenue, which the data does not describe.
• Cash runway against continued negative free cash flow, and the effect of the convertible bond activity and amended filings noted in the recent filing list.