Qualitas Semiconductor퀄리타스반도체

Qualitas Semiconductor remains deeply loss-making on falling revenue, though its share price has rebounded over three months after a steep one-year decline.

The company licenses high-speed interface chip designs (IP) and provides related design services. Trailing twelve-month revenue to H1 2026 was ₩14.1B against an operating loss of ₩18.7B, and borrowings of ₩29.9B exceed cash of ₩11.1B. The shares closed at ₩9,830 on 2026-10-21, down 43.6% over one year but up 25.5% over three months.

What stands out

• Revenue has fallen for two years, from ₩10.8B in 2023 to ₩5.4B in 2025, while operating losses have stayed large at around ₩11B to ₩24B a year.
• Trailing free cash flow was negative ₩12.8B, and liabilities are 166% of equity, so the balance sheet is under strain.
• The filing list is dominated by major sales or supply contract disclosures in July to October 2026, but the contract values and counterparties are not in the data.
• Foreign ownership fell from 2.8% to 2.1% over 60 days, while foreign investors were net sellers over the last 20 days.
• No news headlines were provided, so there is no press coverage in the data to weigh against the filings.
• The stock trades at 4.5 times book value and 9.9 times sales, with no meaningful earnings multiple because the company is loss-making.

What to watch

• Next filings on the status and value of the recent major sales or supply contracts, which are not detailed in the data.
• Full-year 2026 results and whether revenue and operating losses narrow from current levels.
• Funding needs given negative free cash flow and borrowings above cash; the data does not state any refinancing plans.