Hanssak한싹

Hanssak's trailing revenue is positive but it still runs operating and net losses, with the share price down sharply over the past year.

Hanssak sells information security software, led by its SecureGate data transfer product, mainly to public bodies, financial firms and companies. For the twelve months to H1 2026 it reported revenue of about ₩27.9B, an operating loss of about ₩1.3B and a net loss of about ₩1.9B. The share price closed at ₩2,885 on 2026-10-28, well below its 52-week high of ₩7,710 but above its low of ₩1,722.

What stands out

• Revenue rose 28% in 2025 to about ₩26.3B after a 14.8% fall in 2024, but operating losses widened to about ₩1.9B in 2025 from ₩2.7B in 2024 (2024 figure shown as a loss).
• Trailing operating margin is -4.5% and net margin is -6.9%, so the business is not yet profitable on the filed numbers.
• Trailing free cash flow is about -₩3.2B, and borrowings of about ₩9.0B exceed cash of about ₩2.3B.
• The 2023 profit of about ₩3.2B and 10.9% operating margin look unusual against the losses since, and the data does not explain the change.
• Foreign ownership fell from 3.2% to 2% over 60 days, while the 20-day foreign net flow was positive and retail flow was negative.

What to watch

• The 2026 September filing on a guarantee of debt for another party, and whether it affects the company's borrowings or contingent liabilities; the data does not give details.
• The next quarterly or annual results, to see whether losses narrow and cash flow improves.
• No valuation model, analyst ratings or dividend are given in the data; the company pays no dividend, and P/E is not meaningful because earnings are negative.