Nara Space Technology나라스페이스테크놀로지

Nara Space Technology is still loss-making, with trailing revenue of ₩13.2B and an operating loss of ₩5.5B, though its shares have risen sharply from their 52-week low.

The company, a KOSDAQ-listed satellite and space-technology firm listed in December 2025, reported trailing twelve-month revenue of ₩13.2B against an operating loss of ₩5.5B and a net loss of ₩7.7B as of H1 2026. It held ₩7.5B in cash and borrowings of only ₩10M, but free cash flow was negative ₩7.7B. The share price closed at ₩11,180 on 13 October 2026, well above its 52-week low of ₩7,520 though far below its high of ₩64,600.

What stands out

• Losses are large relative to revenue: the operating margin is -41.3% and the net margin is -58%, and free cash flow was also negative at about -₩7.7B.
• Balance sheet risk looks modest on the reported figures: liabilities are 38.4% of equity and borrowings are very small, though cash of ₩7.5B is being consumed by the losses.
• Valuation is hard to anchor: P/B is 3.1 and P/S is 9.8, but P/E and EV/EBITDA are not meaningful because earnings are negative, and no fair value model is provided.
• Recent filings include a half-year report (August 2026), a major sales or supply contract (June 2026), and several insider and 5%+ holding reports, plus two major management matters in July and September 2026.
• The stock is up 8.5% over one month and 7.1% over three months, but the one-year return is not available in the data, and no news headlines were supplied.

What to watch

• The next periodic financial results and whether losses narrow from the current -41.3% operating margin.
• Details of the June 2026 supply contract and whether further contracts are disclosed, since the data does not show backlog or contract values.
• The September 2026 management matter and the October 2026 5%+ holding report, which the data does not explain; cash burn against the ₩7.5B cash balance is also worth monitoring.