Focus AI포커스에이아이

Focus AI shares have risen over the past year, but the company is still loss-making with heavy losses on a trailing basis.

Focus AI is a South Korean AI security and surveillance company selling AI cameras, recorders, smart factory safety tools and access control to businesses and public-sector buyers. Trailing twelve-month revenue to H1 2026 was ₩42.7B, with an operating loss of ₩7.8B and a net loss of ₩11.7B, and revenue has fallen for two straight years. Recent headlines focus on rolling out an AI fire detection product ahead of winter demand.

What stands out

• Revenue fell 22.1% in 2025 to ₩45.3B, after a 2.1% decline in 2024, and the trailing twelve-month figure is lower still at ₩42.7B.
• Operating margin turned sharply negative, from a 4.5% profit in 2023 to -22.5% in 2025 and -18.2% on a trailing basis.
• Free cash flow is negative at -₩2.0B on a trailing basis, and borrowings of ₩12.0B exceed cash of ₩13.3B.
• Recent filings include a rights offering, a convertible bond issue and a third-party allotment, which the data does not explain in detail.
• Share price is ₩2,210, well below the 52-week high of ₩3,695 but above the low of ₩1,317, with a 1-year return of 5.5%.
• Foreign ownership rose from 0.8% to 1.3% over 60 days, while retail investors were net sellers over the last 20 days.

What to watch

• Upcoming results and whether revenue and operating losses narrow from the trailing figures.
• Details and dilution effects of the rights offering and convertible bonds, as shown in future filings.
• Demand for the AI fire detection rollout, which the headlines link to winter, and whether it shows up in sales.