Iteyes아이티아이즈

Iteyes is loss-making on a trailing basis and its shares have fallen about 41% over the past year, while it pushes into AI cancer diagnosis.

Iteyes, a Korean IT firm serving banks, securities firms, public institutions and healthcare, posted a trailing twelve-month operating loss of ₩10.4B on revenue of ₩67.9B to June 2026. The shares closed at ₩2,845 on 30 October 2026, with a market cap of about ₩20.0B, and sit well below their 52-week high of ₩8,570. The company is expanding into AI, medical data and healthcare platforms, but the data does not show whether these areas are yet producing meaningful revenue.

What stands out

• Trailing operating margin is -15.3% and net margin is -12.6%, after a 2024 profit that did not repeat in 2025 or the trailing period.
• 2025 revenue fell 1.9% to ₩78.1B, with a net loss of ₩9.5B, and 2024 was the only profitable year in the five-year series shown.
• Borrowings of ₩4.2B exceed cash of ₩1.4B, and liabilities are 209% of equity; trailing free cash flow was -₩7.1B.
• Foreign ownership rose from 0.6% to 1.2% over 60 days, while retail and foreign investors were net sellers over the last 20 days.
• Late October news covered three-party MOUs for an AI-based cancer diagnosis solution, but the data gives no financial terms or revenue expectations for these deals.

What to watch

• The next half-year or annual filings, to see whether losses narrow and whether cash flow improves from the trailing -₩7.1B.
• Repeated filings on convertible bonds, including the 2026 conversion price adjustment and early bond repurchase decision, which could signal dilution or financing pressure.
• Progress of the AI cancer diagnosis and medical data projects, which the data does not yet show contributing to revenue.