Smart Radar System스마트레이더시스템

Smart Radar System's revenue has grown fast, but it still posts large operating and net losses and its shares are down sharply over the past year.

Smart Radar System makes 4D imaging radar for automotive, drone, healthcare and industrial uses. Trailing twelve-month revenue is about ₩8.1B, while operating loss is about ₩4.8B and net loss about ₩9.2B. The shares closed at ₩3,390 on 2026-10-22, roughly 60% below the one-year-ago level and well below the 52-week high of ₩9,080.

What stands out

• Revenue rose 98.4% to ₩9.4B in 2025 after 16.2% growth in 2024, but operating losses remained large at ₩5.3B in 2025.
• Trailing operating margin is -59.4% and net margin is -113.5%, so losses are large relative to sales.
• Cash of ₩15.1B is above borrowings of ₩8.4B, but free cash flow over the trailing period was -₩2.8B and liabilities are 104.4% of equity.
• Filings include a major sales or supply contract (June 2026), a derivatives trading loss disclosure and a convertible bond related bond acquisition (August 2026), though the data does not give details of their size or effect.
• Price-to-book is 2.1 and price-to-sales is 6.9; price-to-earnings is not meaningful because earnings are negative, and the company pays no dividend.

What to watch

• The next half-year or annual results, to see whether operating losses narrow relative to revenue growth.
• Details of the derivatives trading loss and convertible bond transactions, which are not described in the data provided.
• Insider and 5%+ holding filings, and foreign ownership, which stands at 3.6%; the data includes no analyst ratings or forecasts.