Monitorapp모니터랩

Monitorapp's trailing revenue is growing and it returned to a small net profit, but operating margins are thin and free cash flow is negative.

Monitorapp, a Korean security software and hardware maker listed on KOSDAQ, reported trailing-twelve-month revenue of ₩21.2B to H1 2026 with a 5.9% operating margin and an 8.0% net margin. The shares closed at ₩3,445 on 2026-10-28, up 70.1% over three months but down 22% over one year, and the filings show a completed merger in July 2026. The data does not include analyst ratings or forecasts.

What stands out

• Full-year 2025 revenue was ₩19.2B, up 28.6%, after operating income of ₩0.9B, a clear improvement on the 2024 operating loss of ₩0.6B.
• Trailing net income of ₩1.7B is well above trailing operating income of ₩1.2B, and the data does not explain the gap; 2024 net income of ₩2.1B also exceeded its operating result.
• Trailing free cash flow was negative at about -₩0.75B, even though cash of ₩3.4B exceeds borrowings of ₩2.2B.
• Valuation metrics are mixed: trailing P/E is about 25 and P/B about 1.1, with a DCF base value of ₩627 against a price of ₩3,445 and a bear-to-bull range of ₩284 to ₩1,299, and the company pays no dividend.
• Recent filings are mostly corporate housekeeping: a merger decision and completion report, treasury share actions, insider shareholding reports and a half-year report. No news headlines were included in the data.

What to watch

• The next results release and whether revenue growth and operating margin hold up, given the gap between operating and net income.
• Free cash flow turning positive, and whether the merger completed in July 2026 changes the company's scale, costs or share count.
• Foreign ownership, which fell from 3.2% to 1.7% over the last 60 days, alongside insider shareholding reports and the sharp recent share price move.