TRUEN (417790) Q4 2025 earnings summary

Executive summary

• Revenue for FY2025 was KRW 49.1 billion, down 8.4% year-over-year, with operating income at KRW 13.3 billion and net income at KRW 12.1 billion, both declining from the previous year.

• The business focuses on digital video surveillance systems and IoT solutions, with IP cameras accounting for 76.3% of sales.

• The company maintains a strong financial position, with a low debt ratio of 4.4% and high liquidity (current ratio 1,585.7%).

Financial highlights

• Revenue: KRW 49.1 billion (–8.4% YoY); Operating income: KRW 13.3 billion (–14.2% YoY); Net income: KRW 12.1 billion (–15.8% YoY).

• Gross margin: 48.8%; Operating margin: 27.0%; Net margin: 24.6%.

• Cash and equivalents at year-end: KRW 50.6 billion, up 18.3% YoY.

• Dividend per share: KRW 200 (payout ratio 17.3%).

Outlook and guidance

• The company expects continued growth in AI-based video surveillance and IoT markets, focusing on R&D and product innovation.

• Market expansion is anticipated in both domestic and overseas public and SI sectors, leveraging proprietary AI and security technologies.