Obigo오비고

Obigo's revenue has grown sharply since 2024, but it is still loss-making and its shares have fallen over the past month.

Obigo sells in-vehicle software and connected-car platforms to automakers and parts suppliers, and through its subsidiary Carrang runs vehicle maintenance and related services in Korea. On trailing twelve-month figures to H1 2026, revenue was about ₩43.1B against an operating loss of about ₩4.6B, and it carries ₩7.6B of borrowings against ₩1.0B of cash. The share price closed at ₩4,400 on 2026-10-22, within a 52-week range of ₩3,115 to ₩7,300.

What stands out

• Revenue rose to ₩33.5B in 2025 from ₩14.4B in 2024, a growth rate of 132.5%, but operating losses persisted in every year shown since 2021.
• Trailing free cash flow was negative at about -₩2.5B, and liabilities are 78.6% of equity.
• The company pays no dividend, and the data has no reported P/E because earnings are negative; price-to-book is 1.6 against 2.3 at end-2025.
• Foreign ownership fell slightly to 0.7% from 0.8% over about 60 days, and 20-day flows show foreign net selling of about ₩23M.
• Recent filings are mostly 5%+ holding and insider shareholding reports, plus the H1 2026 half-year report filed on 2026-08-14. No news headlines were included in the data.

What to watch

• The next full-year and quarterly results, to see whether operating losses narrow as revenue grows.
• Further 5%+ holding and insider shareholding filings, which show ownership changes.
• Debt levels against limited cash, since the data shows borrowings well above cash on hand.