Noul노을

Noul's shares have collapsed over the past year and the company is loss-making, with a market-cap notice warning of possible administrative designation.

Noul, a KOSDAQ-listed maker of the miLab on-device AI diagnostic system, reported trailing twelve-month revenue of ₩3.7B against an operating loss of ₩20.3B as of H1 2026. The share price closed at ₩1,253 on 2026-10-21, down 90.2% over one year, giving a market cap of about ₩12.9B. The data shows no analyst ratings, price targets or forecasts.

What stands out

• Trailing revenue of ₩3.7B is far below the operating loss of ₩20.3B, giving an operating margin of -554.6%.
• Annual revenue was ₩5.1B in 2025 after ₩1.6B in 2024, but operating losses have stayed around ₩16B to ₩23B every year since 2021.
• Free cash flow was -₩19.5B on a trailing basis, against cash of ₩4.5B and borrowings of ₩1.9B.
• The stock trades at 0.8x book value and 3.5x sales, with no dividend and no earnings-based valuation because profits are negative.
• Foreign ownership fell from 5.3% to 0% over about 60 days, and the 20-day flows show net retail selling of about ₩80M.

What to watch

• An October 14, 2026 exchange notice flags additional concern of designation as an administrative issue because market capitalisation is below ₩20B; any follow-up decision is not in the data.
• Recent filings include a trading halt on September 4, 2026 and several insider shareholding and 5%+ holding reports; the reasons are not stated in the data.
• Whether the company can narrow its large operating losses and fund itself, given cash of ₩4.5B against a trailing free cash outflow of ₩19.5B.