Cosmo Robotics develops and manufactures wearable lower-limb exoskeleton robots that fit over the legs to assist walking or provide rehabilitation, with nearly all revenue coming from medical rehabilitation robots; its flagship adult model, EA2, holds a Class 3 medical-device approval from the Ministry of Food and Drug Safety and health-insurance listing, so hospitals and rehabilitation centers are its main customers. An April 2026 KOSDAQ listing raised about ₩25 billion, part of a privately placed convertible bond converted into shares leaving some dilution, and the first confirmed Q1 results after listing were released. What stands out lately is that the real-demand base of medical-device approval and insurance listing for rehabilitation robots, plus a favorable aging trend, make it strong if expanding rehabilitation demand and a narrowing loss show up in quarterly results, whereas revenue is still small at around ₩4 billion a year, the core business is loss-making, and a P/S above 100x means growth expectations are already substantially priced in.
At-a-glance assessment financial health · growth · profitability · valuation
Financial healthModerate
GrowthLimited data
- Most recent quarter (Q1 2026) revenue was 32.0% lower than a year earlier.
ProfitabilityLimited data
ValuationLimited data
- Valuation metrics are limited.
🔎 In-depth analysis
🏢Business
- Cosmo Robotics develops, manufactures, and sells 'wearable lower-limb exoskeleton robots' that people put on directly.
- Put simply, they are wearable robots that fit over the legs like a frame to assist walking or provide rehabilitation training.
- Nearly all revenue comes from medical rehabilitation robots.
- As of 2025, the adult walking-rehabilitation robot 'EA2 (ExoAthlet 2)' accounted for about 51% of revenue and the children-and-adolescent 'Bambini Teens' for about 44%.
- The flagship EA2 holds a Class 3 medical-device approval from the Ministry of Food and Drug Safety and is listed for health-insurance coverage (selective benefit) in stroke-patient rehabilitation, so hospitals and rehabilitation centers are the main customers.
- It is also expanding into walking-assist robots and wearable suits for industrial-site workers.
- In short, the key to understanding this company is that its core business is 'medical rehabilitation exoskeletons,' not 'general-purpose industrial or logistics robots.'
📈Price & chart
- The latest close is ₩12,210 and the market cap is ₩396.2 billion.
- The RSI (a gauge that scores upward versus downward force over the past 14 days on a 0-100 scale) is 37.9, a neutral level.
- The one-month change is -44.4%, and it stands -78.3% below its 52-week high.
- Chart readings are best viewed alongside trading volume and the dates of disclosures.
📊Key metrics
- This stock is a new issue that listed at the end of April 2026 and its core business does not yet turn a profit, so earnings-based metrics such as the P/E ratio (how many times one year's net profit the price represents), P/B (how many times book net assets the price represents), and ROE (how much is earned in a year on equity) are either unfilled in public data or not yet meaningful.
- For a company in a loss-making stage, these metrics being blank is not in itself abnormal, and is better read as showing the company's position at a pre-profit stage.
- Instead, gauging by P/S (how many times one year's revenue the price represents), which compares market cap to revenue, 2025 revenue of about ₩4.1 billion against a current market cap of about ₩477.3 billion puts it above 100x.
- This means the current price leans substantially on the expectation that 'the market can be grown from here' rather than on 'current confirmed results.' The key on the financial side is to view together the current strength seen through last year's confirmed results (trailing) and the future expectations the market has priced in ahead of time.
🚀Growth
- The top line has grown quickly.
- On the official prospectus, annual revenue was about ₩1.37 billion in 2022, about ₩2.53 billion in 2023 (+85.0%), and about ₩4.39 billion in 2024 (+73.4%), rising steeply for two straight years — a clear record of widening the market in a short span.
- That said, 2025 was about ₩4.10 billion, down -6.6% year over year, so growth took a pause, and most recently Q1 2026 revenue was about ₩1.27 billion, down -32.0% from the same period a year earlier.
- The same-quarter operating profit was -₩2.7 billion and net profit was -₩3.0 billion, both losses (the officially classified confirmed quarter).
- Rehabilitation-robot quarterly revenue can be uneven with the timing of hospital and rehabilitation-institution adoption and budget execution, so it is hard to declare a trend from one or two quarters' numbers.
- For a growth foundation, there are the structural currents of aging and rehabilitation demand and secured real demand from the health-insurance listing.
- However, no numeric company outlook for this year's annual revenue or profit was confirmed in disclosures or official channels, so this report does not arbitrarily fill in future results and explains only the confirmed results trend.
- That is, until verified future numbers appear, it is reasonable to distinguish 'the confirmed top-line growth record' from 'future expectations not yet confirmed in figures.'
📰Recent news & filings
- Recent disclosures run along three main threads.
- First, the April 2026 KOSDAQ new listing (public offering).
- At a confirmed offer price of ₩6,000 it raised 4.17 million new shares for about ₩25 billion, completing payment on April 30 (securities-issuance report).
- The listing funds become resources for R&D and business expansion, while the increased new shares partly dilute existing shareholders.
- Second, the conversion request on a privately placed convertible bond (debt that can be converted into shares at a set price).
- In May 2026 part was converted into shares at a conversion price of ₩2,562, and the remaining unconverted balance (about ₩0.13 billion, worth about 50,000 shares) remains an additional dilution factor.
- Third, many holding-status reports by executives and major shareholders were filed right after listing, a procedural disclosure a newly listed company typically goes through.
- Meanwhile, the Q1 2026 quarterly report released the first confirmed results after listing.
🧭Bottom line
- The strengths are clear.
- Its flagship rehabilitation robot holds a Class 3 medical-device approval from the Ministry of Food and Drug Safety and a health-insurance listing, giving it a real-demand base in hospitals and rehabilitation centers, and it has a record of widening the market with revenue rising sharply for two straight years in 2022-2024.
- The structural currents of aging and rehabilitation demand are also favorable to the business.
- At the same time, the points to watch are clear.
- Revenue is still small at around ₩4 billion a year, the core business is loss-making, and after 2025 revenue contracted once, Q1 2026 declined too.
- The current price is above 100x revenue (P/S), so future growth expectations are already substantially priced in, and the pace at which that expectation is confirmed in actual results is the crux.
- In sum, it is appropriate to view this stock as 'strong if expanding medical-rehabilitation-robot demand and a narrowing loss show up in quarterly results, and weak if the growth slowdown drags on or additional fundraising deepens dilution.' Rather than declaring one direction, the fitting approach is to confirm each quarter which conditions are being met.
🔎 Valuation vs peers Inconclusive
Domestic listed robot companies with verifiable public data were used as the comparison set, while noting that Cosmo Robotics' core business is 'medical rehabilitation exoskeletons,' a different business feel from the industrial- and collaborative-robot-centered peers.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| Rainbow Robotics | 5845.84x | 62.11x | 1.06% |
| Doosan Robotics | — | 13.09x | -15.92% |
| Robotis | 589.25x | 9.56x | 1.62% |
On confirmed results, earnings are in the red so last year's confirmed P/E (trailing) cannot be calculated, and no official company future (forward) figures were confirmed, so a forward-based assessment is also impossible. Its position versus peers is heavily limited by the fact that 'even the same robots run different businesses' — the peers are centered on industrial and collaborative robots, whereas Cosmo Robotics' core business is medical rehabilitation exoskeletons, so a simple multiple comparison can go astray. Accordingly, rather than declaring it cheap or expensive, it is reasonable to confirm through quarterly results whether a price of about 116x revenue is actually backed by future revenue growth and a narrowing loss. So the verdict at this point is Inconclusive.
₩12,210
+0.49%
Market cap $262.6M
Price history Close · MA20 · MA60
Close
MA20MA60
The latest close is ₩12,210 and the market capitalization is ₩396.2 billion. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 37.9, a neutral level. The one-month change is -44.4%, and the position relative to the 52-week high is -78.3%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
StockKOSDAQ
Key metrics vs sector median
Valuation
P/E (trailing)—
P/B—
P/S—
EPS—
BPS (book value/share)—
Dividend yield—
DPS—
Profitability & financials
ROE—
Operating margin—
Net margin—
Debt ratio—
Payout ratio—
Growth
No financial data.
No 5-year history.
In the most recent quarter (Q1 2026), revenue was 32.0% lower than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Revenue$839,800
Revenue YoY-32.05%
Operating profit-$1.8M
Op. profit YoY—
Net profit-$2.0M
Net profit YoY—
Technical indicators
RSI (14)37.9
MA20₩17,890
MA60—
1-month-44.37%
3-month—
vs 52-wk high-78.27%
What stands out
- —
Points to watch
- The figures shown are based on the last annual report as of the writing date, so it is best to review the latest quarterly results and filings alongside them.
Recent news & events searched · sourced
- 2026-04-30FilingKOSDAQ new-listing offering completed — 4.17 million new shares at ₩6,000 per share, about ₩25 billion raisedShort term: floating supply right after listing widens share-price volatility. Medium term: the raised funds become resources for R&D and business expansion, but the new-share issuance dilutes existing shareholders. Source
- 2026-05-13FilingPrivately placed convertible bond (2nd series) conversion request — conversion price ₩2,562, about ₩0.13 billion unconverted balance remainingThe short-term impact is limited, but the remaining convertible volume (about 50,000 shares) needs watching as a future additional dilution factor. Source
- 2026-06-01EarningsQ1 2026 quarterly report — first confirmed results after listing (revenue ₩1.27 billion, operating profit -₩2.7 billion)As the first disclosed results after listing, revenue fell year over year and losses continued, a source for confirming the gap between growth expectations and actual results. Source
- 2026-04-24FilingSecurities registration statement (equity) issuance terms confirmed — confirmed offer price ₩6,000, total offering ₩25.02 billionThe offer price was set at the top of the desired range (₩6,000), fixing the fundraising scale. It becomes the reference for the opening-price formation and volatility at the subsequent listing. Source
Figure cross-check computed ↔ external
| Metric | Computed | External | Status | Source |
|---|---|---|---|---|
| 2025 annual revenue | base: revenue null | approx. ₩4.1 billion | Confirmed | link |
| Q1 2026 operating profit | -₩2.7 billion(-₩2,676,757,620) | (2026.03) | Confirmed | link |
| Offering fundraising scale | base | 4,170,000 × ₩6,000 = ₩25.0 billion | Confirmed | link |
| Total shares outstanding (dilution reflected) | base: 32,450,626 | approx. 32,439,581 + 6 | Confirmed | link |
Recent filings
- 2026-06-02OwnershipOfficers'/major-shareholders' holdings report
- 2026-06-01PeriodicQuarterly report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
- 2026-05-18OwnershipOfficers'/major-shareholders' holdings report
📖 Plain-language glossary — expand if you are new to this
- P/E
- How many times a year's net profit the price is worth (lower is cheaper relative to earnings). The P/E here is on trailing (last full-year) results; for companies whose earnings swing fast (memory chips and other cyclicals/high-growth), a forward P/E on this year's expected earnings is more accurate.
- P/B
- Price relative to net assets (equity). Around 1x means it trades near book value; below 1x means below book.
- P/S
- Price relative to a year's revenue — useful for growth companies with thin earnings.
- Net debt / EV
- Net debt = interest-bearing debt − cash. Negative means more cash than debt (net cash). EV (enterprise value) = market cap + net debt, closer to what it would cost to buy the whole business.
- EV/EBIT · EV/EBITDA · EV/Sales
- Enterprise value against operating profit (EBIT), EBITDA, or revenue. Unlike P/E these reflect debt and cash; lower is cheaper relative to earnings power or sales.
- FCF / FCF yield
- Free cash flow = operating cash − capex, the cash actually left over. FCF yield = FCF ÷ market cap; higher means more cash generated per unit of market value.
- Intrinsic value (DCF)
- Future free cash flow (or, for some capex-heavy but profitable names, forecast earnings) discounted to today to estimate per-share value. Because it shifts a lot with the discount-rate and growth assumptions, it is shown as a bear/base/bull range, and the basis and assumptions are disclosed in one line beneath it.
- ROE
- How much profit the company earns in a year on its equity (%). Higher means better returns on capital.
- EPS / BPS
- Earnings per share / net assets (book value) per share.
- Operating / net margin
- Profit left from the core business / final profit after tax and interest, per unit of revenue.
- Debt ratio
- Debt relative to equity (%). Higher means more reliance on borrowing (norms vary by sector).
- Current ratio
- Assets convertible to cash within a year against debt due within a year. Above 100% leaves some short-term headroom.
- Interest coverage
- How many times operating profit covers the interest owed. Below 1x means operating profit alone struggles to cover interest.
- Dividend yield / payout ratio
- The year's dividend as a % of today's price / the share of earnings paid out as dividends.
- Revenue CAGR
- Multi-year growth expressed as a single yearly average (compound annual growth rate).
- RSI (short-term signal)
- Whether recent price action is overheated or beaten down. Above 70 is overbought, below 30 oversold.
- MA20 / MA60 (moving averages)
- The 20- and 60-day average price. Price above them signals a firmer short-term trend.
- vs 52-week high
- How far below the past year's peak the price sits now (%).
All figures are for reference only; how they read varies by sector and over time.
Sources: Korea FSC market-price API (data.go.kr), OpenDART, KRX/KIND — public data only.
Bong Stocks presents public-data-based information for reference only. It is not investment advice and contains no target prices, ratings, or buy/sell recommendations. Verify independently before making any decision.