SOS Lab에스오에스랩

SOS Lab is growing revenue and launching new LiDAR products, but it still posts large operating losses and carries heavy debt.

SOS Lab, a Korean LiDAR sensor maker, reported trailing twelve-month revenue of about ₩5.0B against an operating loss of about ₩18.2B for the period to H1 2026. Its 2025 revenue rose 23.3% to ₩6.1B, but net losses widened to ₩17.7B, and borrowings of about ₩49.9B exceed its ₩1.9B cash. Recent filings and news centre on new smart-infrastructure and autonomous driving LiDAR products and a partnership with Semunite.

What stands out

• Trailing revenue is ₩5.0B, but operating margin is -361.7% and net margin is -388.4%, so losses are large relative to sales.
• 2025 revenue grew 23.3% to ₩6.1B, yet operating losses were about ₩16.1B that year.
• Liabilities are 391.8% of equity and trailing free cash flow was about -₩15.5B, which points to reliance on external funding.
• Shares are at ₩9,060, down 8.5% over one month and 9.4% over one year, though up 11.2% over three months and well below the 52-week high of ₩28,700.
• Recent news covers the ML-I LiDAR for smart infrastructure and a Semunite collaboration, but the data does not show revenue from these yet.
• Foreign ownership rose from 1.2% to 2.1% over 60 days, while retail investors were net sellers over the last 20 days.

What to watch

• The next quarterly and annual results, to see whether revenue growth is narrowing the operating loss.
• The conversion price adjustment filed on 2026-10-12, which may relate to convertible securities and potential dilution; the data does not give details.
• Whether the new products and the Semunite partnership produce disclosed contracts; the data does not give their size or timing.