Simplatform심플랫폼

Simplatform's revenue is growing fast, but it is still deeply loss-making and its shares have fallen sharply over the past year.

Simplatform sells its NUBISON AX industrial AI platform, with all revenue from domestic direct sales of that one product. Trailing twelve-month revenue to H1 2026 was about ₩12.1B with an operating loss of about ₩4.4B, so losses remain large relative to sales. The share price closed at ₩3,495 on 2026-10-23, down 63.5% over one year and near its 52-week low of ₩3,400.

What stands out

• Revenue rose 44% in 2025 to about ₩10.4B, but the operating loss widened to about ₩2.7B and the operating margin was -25.6%.
• Trailing operating margin is -36% and net margin is -34.3%, so the company is not yet profitable on either measure.
• Cash of about ₩3.3B against borrowings of only about ₩69M gives a low debt load, but free cash flow was negative at about -₩819M over the trailing period.
• Market capitalisation is about ₩22.5B, with a price-to-book ratio of 2.0 and no dividend; the data does not include a fair value estimate or analyst targets.
• Foreign ownership fell from 1.8% to 1.5% over 60 days, and 20-day net flows were negative for foreign and institutional investors.

What to watch

• The next half-year or annual results, to see whether the operating loss narrows as revenue grows.
• Insider and major shareholder filings from October 2026, plus a major management matter filed on 2026-10-20; the data does not explain its content.
• Overseas expansion news, such as the proposed Malaysia manufacturing AX cooperation model, which is not yet reflected in the financials.