PIE피아이이

PIE is still loss-making on a trailing basis, though its share price has bounced sharply over three months after falling hard over the past year.

PIE, a KOSDAQ-listed maker of AI vision inspection and smart factory systems, reported trailing twelve-month revenue of ₩52.3B against an operating loss of ₩19.4B for the period to H1 2026. Its balance sheet carries borrowings of ₩34.4B against cash of ₩13.1B, and liabilities are about 2.0 times equity. The stock closed at ₩4,530 on 27 October 2026, roughly 46% below its level a year earlier.

What stands out

• Trailing operating margin is -37.1% and net margin is -51.6%, with 2025 revenue of ₩65.1B and an operating loss of ₩21.2B.
• Free cash flow over the trailing period was negative at about ₩14.9B, and the filings show no dividend.
• Foreign ownership fell from 1.8% to 1.1% over the last 60 days, while the 20-day flow data shows net foreign selling and net retail buying.
• The most recent filings include a major supply contract on 13 October 2026 and a derivatives trading loss notice on 14 August 2026; a loan extension decision was filed on 12 August 2026.
• A 13 October news report cites a ₩9.6B vision system supply contract for secondary battery processes, the company's core customer area.

What to watch

• The next quarterly or annual filings, to see whether operating losses narrow and whether the company can keep borrowings and cash flow manageable.
• Details of the derivatives trading loss and the loan extension, which the data does not explain further.
• Whether new contracts in glass substrate, PCB, automotive lamp or semiconductor inspection come through; the data gives no earnings forecasts.