3billion쓰리빌리언

3billion shows fast revenue growth and a shrinking loss in 2025 and H1 2026, but still runs large operating losses and negative free cash flow.

3billion is a Korean AI genomics company that sells rare-disease genetic tests and interpretation software, mostly to customers outside Korea. On a trailing basis to H1 2026 it reports revenue of about ₩14.3B and an operating loss of about ₩5.7T, with net income of about ₩3.2B that the filings do not explain in the data provided. The share price is ₩5,580, down 36.7% over one year and well below its 52-week high of ₩20,100.

What stands out

• Revenue rose 102.8% in 2025 to ₩11.7B, but the operating margin was -50.3%, so the core business still loses heavily relative to sales.
• Trailing operating income is about -₩5.7T while trailing net income is positive at about ₩3.2B; the data does not say what drives the gap.
• Trailing free cash flow is about -₩8.5T against cash of ₩9.1B and borrowings of ₩5.1B, and liabilities are 98.1% of equity.
• Valuation is high for a loss-making business: P/E 56, P/B 6.0, P/S 12.4, with no dividend.
• Foreign ownership fell from 13.4% to 8.5% over about 60 days, while 20-day flows show retail buying and foreign selling.

What to watch

• The next half-year or annual report, to see whether losses narrow and whether the positive net income holds.
• Financing: the May 2026 convertible bond and convertible preferred share issues, which the data does not detail.
• Follow-up on the June 2026 major sales or supply contract, since the filing title alone does not show its size or terms.