Iteyes아이티아이즈

Iteyes is loss-making on a trailing basis, with revenue near ₩68B and a share price down about 45% over the past year.

Iteyes is a Korean IT firm serving banks, securities firms, public institutions and healthcare clients, and is expanding into AI, big data and medical data. For the twelve months to H1 2026 it reported revenue of ₩67.9B, an operating loss of ₩10.4B and a net loss of ₩8.5B, with borrowings of ₩4.2B against cash of ₩1.4B. The share price closed at ₩2,810 on 2026-10-20, well below its 52-week high of ₩8,570.

What stands out

• Trailing operating margin is -15.3% and net margin is -12.6%, and free cash flow is negative at about -₩7.1B.
• Revenue has been broadly flat to down over recent years (2025 down 1.9%), while 2024 was the only recent year with a small operating profit.
• Liabilities are 209.4% of equity, and the balance sheet shows borrowings well above cash.
• Recent filings include several convertible bond matters, a conversion price adjustment and a major sales or supply contract, but the filing titles do not give the contract size or terms.
• Foreign ownership rose from 0.7% to 1.3% over about 60 days, while retail investors were net sellers over the last 20 days. No news headlines were provided in the data.

What to watch

• The next half-year or annual results, to see whether losses narrow and cash flow improves.
• Further convertible bond actions and any conversion price changes, which could affect share count and funding.
• Whether the AI and medical data businesses start to show revenue, since the data does not show their contribution yet.