TRUEN (417790) Q2 2025 earnings summary

Executive summary

• Specializes in digital video surveillance systems and IoT solutions, with a focus on AI-driven products and cloud-based services.

• Maintains strong R&D capabilities, with 42.5% of workforce in research roles and ongoing government and international projects.

• Listed on KOSDAQ since May 2023, with stable management and no major changes in ownership or business direction.

Financial highlights

• Revenue for H1 2025: KRW 24.52 billion, down from KRW 53.60 billion in FY2024.

• Operating income for H1 2025: KRW 6.51 billion; net income: KRW 6.05 billion.

• Gross margin for H1 2025: 47.5% (KRW 11.65 billion gross profit on KRW 24.52 billion revenue).

• Basic EPS for H1 2025: KRW 578; cash and equivalents at period end: KRW 43.8 billion.

• Dividend paid in H1 2025: KRW 230 per share.

Outlook and guidance

• Anticipates continued growth in AI-based surveillance and IoT markets, both domestically and globally.

• Plans to enhance product competitiveness through ongoing R&D and expansion of AI and cloud-based offerings.

• Focus on expanding overseas sales, especially in niche markets and through OEM partnerships.