Lincsolution링크솔루션

Lincsolution's revenue is growing, but losses are deep and the share price has fallen sharply since its 2025 listing.

Lincsolution, a Korean 3D printer maker listed on KOSDAQ in June 2025, reported trailing twelve-month revenue of ₩15.6B to H1 2026, with an operating loss of ₩11.7B and a net loss of ₩7.1B. The share price closed at ₩18,130 on 2026-10-22, about 31.5% lower over one year and near its 52-week low of ₩16,020. The data does not include a fair value estimate or analyst views.

What stands out

• Revenue rose 17.3% in 2025 to ₩13.1B, but the operating margin was still -56.2%.
• Trailing operating margin is -75.3% and net margin is -45.5%, so losses are large relative to sales.
• Borrowings of ₩24.3B exceed cash of ₩14.5B, and liabilities are 96.7% of equity.
• Free cash flow over the trailing period was -₩30.6B, so the business is consuming cash.
• Filings in September 2026 include a ₩30B convertible bond issue and several major sales or supply contracts; the news headline notes the shares are in limbo after the bond issue.

What to watch

• Whether the convertible bond issue (second series, results filed 2026-09-22) adds dilution or changes the cash position, which the data does not quantify.
• Next quarterly or annual results, to see whether revenue growth narrows the operating loss.
• Foreign ownership fell from 7.8% to 5% over 60 days, and the 1-month share price return is -34.7%; the data gives no reason for these moves.