Amosense아모센스

Amosense is back to a small operating profit on trailing numbers, but it still posts a net loss and carries heavy debt.

Trailing twelve-month revenue to H1 2026 is ₩116.9B with an operating income of ₩1.6B (1.4% margin) and a net loss of ₩2.0B. Revenue fell 9% in 2025 after a strong 2024, and the company carries ₩61.1B in borrowings against ₩23.2B in cash. The stock closed at ₩7,190, well below its 52-week high of ₩29,900 but up 22.1% over three months.

What stands out

• Trailing operating margin is 1.4% and net margin is -1.7%, compared with 5.3% operating margin in 2024 and 4.4% in 2025.
• Liabilities are 199.9% of equity, and borrowings of ₩61.1B are well above cash of ₩23.2B.
• Trailing free cash flow is ₩10.6B, positive even though net income is negative.
• Filings in the past two months include a conversion price adjustment, an exercise of conversion rights and a 5%+ holding report, which point to convertible instruments being part of the capital structure.
• Foreign ownership fell from 9.3% to 2.9% over about 60 days, and foreign investors were net sellers over the last 20 trading days.

What to watch

• Next quarterly and annual results, to see whether the operating margin holds above 1% and the net loss narrows.
• Further conversion-related filings and any dilution, given the recent conversion price adjustment and conversion activity.
• Debt levels and refinancing, since borrowings are well above cash; the data does not give maturity details.