Nota is a software company that compresses and optimizes large, heavy deep-learning neural networks so they can run quickly even on small devices such as cars, CCTV cameras and smartphones. It supplies businesses and public institutions with NetsPresso, a development and lightweighting platform, along with vision-AI solutions for areas like traffic and security monitoring. Revenue is growing rapidly, at a three-year CAGR of 91%, and orders are running ahead of revenue: Q1 2026 bookings reached ₩11.8 billion (+111%), and on June 8, 2026 the company was selected for a ₩10.7 billion city-safety-network pilot project. Large partnerships with the likes of Samsung and NVIDIA lend substance to the business. What stands out lately is a two-sided picture: the faster those growing orders convert into revenue and profit, the more the company benefits from the spread of edge AI, but with both operating and net results still in the red (ROE of -60.6%), the speed of the swing to profit remains the key point to watch.
At-a-glance assessment financial health · growth · profitability · valuation
- The most recent full-year net result was a loss.
- Revenue rose 55.3% year over year, and the pace is slowing (3-year trend: rising).
- Most recent quarter (Q1 2026) revenue was 5257.3% higher than a year earlier.
- ROE is -60.6% (controlling-interest basis). It is below the sector average.
- Operating margin is -116.6%.
- P/E is hard to compute here, so this is read on P/B.
Ownership & governance As of 2025-12-31
Largest shareholder Kim Tae-ho 11.96% (individual)
Controlling bloc incl. related parties 19.85%
With the controlling bloc holding 20%, control is maintained but the free float is relatively large.
🔎 In-depth analysis
- Nota is a software company that compresses and optimizes large, heavy deep-learning neural networks so they can run quickly on small devices (edge devices) such as cars, CCTV cameras and smartphones.
- Its flagship product is NetsPresso, a platform that handles the development, lightweighting and validation of neural networks in one place, and it adds vision-AI solutions in areas like traffic (license-plate recognition and ITS), security monitoring (detecting people and abnormal behavior) and industrial safety (fall detection) to generate revenue.
- In other words, this is not a company that sells games; its income comes from supplying businesses and public institutions with technology that lets AI run on actual hardware, earning solution and project revenue.
- Company disclosures confirm that it has received strategic investment from Samsung, LG, Naver and Kakao, and that it collaborates with NVIDIA, ARM and Intel.
- The latest closing price is ₩18,010 and the market capitalization is ₩384.4 billion.
- The price sits below the 20-day line (₩22,396) and below the 60-day line (₩29,233).
- Trading below both the short- and mid-term moving averages, the trend is on the soft side.
- The RSI (an auxiliary gauge that weighs upward versus downward strength over the past 14 days on a 0-100 scale) is 31.1, a neutral level.
- The one-month change is -33.3%, the three-month change is -46.7%, and the price sits -68.1% below its 52-week high.
- Relative strength versus the KOSDAQ is 3 (on a 1-99 scale, calculated from returns against the index over the past year with more weight on recent performance; higher means stronger than the market).
- Among all stocks it ranks in roughly the top 98% by strength.
- Over the past three months it lagged the index by 29.5%.
- Chart readings are best viewed together with trading volume and disclosure dates.
- Nota is still at a pre-profit stage, so a P/E ratio (how many times one year's earnings the price represents) cannot be computed.
- Instead, its P/B (how many times per-share net asset value the price represents) is 15.04x, far above the sector median of 1.52x.
- It is natural for asset and earnings multiples to look high at a loss-making growth company, because most of the firm's value lies not in book assets but in the technology and revenue it aims to build.
- It is therefore premature to read this multiple alone as a burden.
- ROE (how much is earned in a year on shareholders' equity) is -60.6% and the operating margin is -116.6%, so profitability is still negative, but with a debt ratio of 154.0% and a current ratio of 321.7%, short-term solvency is comfortable and the immediate financial burden is not large.
- The key point is that all of these figures are on a trailing basis, reflecting last year's confirmed results; for a high-growth technology company like this, proper valuation depends on watching when its growing revenue and orders turn into profit, rather than last year's earnings multiple.
- Revenue grew rapidly from ₩3.6 billion in 2023 to ₩8.4 billion in 2024 and ₩13.1 billion in 2025, a three-year CAGR (the average percentage increase per year) of 91.3%.
- It also rose +55.3% year over year, so the top-line growth is clear.
- Q1 2026 revenue was ₩3.58 billion, up +52.6% from the same period a year earlier, and per the company's official figures, new bookings in Q1 reached ₩11.8 billion (+111% year over year) — meaning orders are rising first and by more than revenue.
- This is not a one-off jump but a trend built on actual contracts stacking up, such as AI-optimization supply for Samsung's Exynos and a government city-safety-network pilot.
- The engine of growth is thus clear and the direction is upward.
- That said, the company has not officially issued a numerical annual profit target for 2026, so this year's earnings scale depends not on a confirmed forecast but on how quickly the accumulated orders convert into revenue and profit.
- There is no basis to expect a lower year ahead than this one; with the order backlog rising, the growth phase itself appears set to continue.
- The recent picture can be summarized as a phase of steadily accumulating orders.
- Per the company's official newsroom, on June 8, 2026 it was selected for a ₩10.7 billion on-device AI city-safety-network pilot project, and in April it announced Q1 bookings of ₩11.8 billion (+111%).
- Disclosures also show single-sale/supply contracts (orders) signed in succession in March and May 2026, confirming that solution-business contracts are indeed increasing.
- At the end of 2025, large partnerships were disclosed, including AI-optimization technology supply for Samsung's Exynos 2600, cooperation with LG AI Research on EXAONE, and selection as an NVIDIA Connect partner.
- Still, because there is a lag before orders and contracts are recognized as revenue, a stage remains where upcoming quarterly reports must be checked to see whether these contracts translate into actual revenue and cash flow.
- The strengths are clear.
- Revenue is growing rapidly at a three-year CAGR of 91%, orders (₩11.8 billion in Q1) are rising ahead of revenue, and large partnerships such as those with Samsung and NVIDIA, along with government pilot projects, lend substance to the business.
- Edge-AI lightweighting is an area tied to the trend of AI spreading into smartphones, cars and robots, so the company sits in a space where demand itself is expanding.
- The price is also 62% below its 52-week high, so this is not an overheated zone.
- The point for caution is that both operating and net results are still in the red.
- As the ROE of -60.6% and operating margin of -116.6% show, a recovery in profitability is still to be proven, and because the company has not officially issued a numerical annual target, the timing of profitability is not fixed either.
- In short, the faster the growing orders convert into revenue and profit, the stronger the case; the more that conversion is delayed, the harder it becomes for growth expectations to support the price.
- The direction and substance of growth are distinct, but the speed of the turn to profit is the point to watch.
🔎 Valuation vs peers Inconclusive
Although Nota is classified under 'games and software' by industry code, it is really an AI lightweighting and optimization software company, so its position is assessed against both (a) still-loss-making high-growth deep-tech firms and (b) profitable software firms, in line with the substance of its business.
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| FADU | — | 186.30x | -391.69% |
| Shift Up | 10.68x | 2.22x | 20.78% |
| JIO | — | 0.79x | -4.37% |
(a) Position versus true peers: Nota is at a loss-making stage, so a P/E comparison is not possible. Padu, another 'loss-making, high-growth deep-tech' name, has an extremely high P/B (257x) and a negative ROE too, placing it among firms the market values purely on future expectations. Nota's P/B of 15x and P/S of 32x are of the same character — clearly high relative to assets and revenue. (b) Premium/discount: compared with the steadily profitable SHIFT UP (P/E of 9.4x, ROE of 21%), Nota's valuation is closer to one 'explained by expectations' than one 'explained by earnings.' (c) Limits of trailing and the forward basis: because last year's confirmed results were a loss, there is no trailing P/E at all, and since the company has not officially issued a numerical annual target, the forward figure is not a confirmed value either. Ultimately, the speed at which the growing orders (₩11.8 billion in Q1) convert into revenue and profit determines whether the valuation is justified, so rather than pronouncing it cheap or expensive at this point, Inconclusive is appropriate.
Price history Close · MA20 · MA60
The latest close is ₩18,010 and the market capitalization is ₩384.4 billion. The price sits below its 20-day moving average (₩22,396) and below its 60-day moving average (₩29,233). It is under both its short- and medium-term moving averages, so the trend looks subdued. The RSI (a supplementary indicator that gauges the strength of gains versus losses over the past 14 days on a 0-100 scale) is 31.1, a neutral level. The one-month change is -33.3%, the three-month change is -46.7%, and the position relative to the 52-week high is -68.1%. Relative strength versus the KOSDAQ is 3 (on a 1-99 scale, converted from returns against the index over the past year with more weight on recent performance; higher means stronger than the market). It is stronger than roughly 2% of all stocks. Over the past three months it lagged the index by 29.5%. Chart interpretation is best done alongside trading volume and the dates on which disclosures occur.
Relative performance stock vs index · start = 100
Excess return vs index · 3M -29.47% / 6M -58.22% / 12M -33.08%
Key metrics vs sector median
Valuation
A net loss makes the P/E an unreliable valuation gauge. The P/B of 14.00x is above the sector median (1.58x).
Enterprise value (EV)
EV = market cap + net debt. It reflects cash and debt, so it captures the real cost of the whole business that market cap alone misses; lower multiples are cheaper relative to earnings or sales.
Profitability & financials
Return on equity (ROE) is -60.6%, below the sector average (5.0%). The operating margin is -116.6%. The debt ratio is 154.0%, so the financial structure is moderate.
Growth FY2025 · annual report (consolidated)
| Item | 2023 | 2024 | 2025 | YoY |
|---|---|---|---|---|
| Revenue | $2.4M | $5.6M | $8.7M | +55.27% ↓ slower |
| Operating profit | -$7.5M | -$8.0M | -$10.1M | — |
| Net profit | -$8.7M | -$16.5M | -$11.0M | — |
| 5-year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | — | $2.4M | $5.6M | $8.7M |
| Operating profit | — | — | -$7.5M | -$8.0M | -$10.1M |
| Net profit | — | — | -$8.7M | -$16.5M | -$11.0M |
| Revenue CAGR | 2-yr avg 91.28% | ||||
Revenue rose 55.3% year over year (2023 ₩3.6 billion → 2024 ₩8.4 billion → 2025 ₩13.1 billion), and the three-year trend is 'rising'. That said, the pace of growth slowed from the prior year. Operating results are in the red, so a swing back to profit matters more than the growth rate here. Over the 3 years on record, revenue compound annual growth (CAGR) is 91.3%. The two-year revenue CAGR is 91.3%. In the most recent quarter (Q1 2026), revenue was 5257.3% higher than the same period a year earlier.
Latest quarterly results Q1 2026 · vs year-ago
Technical indicators
What stands out
- Revenue grew 55.3% year over year, a sign of growth.
Points to watch
- The most recent full year was a loss, so it is worth checking whether profitability recovers.
- The price is high versus peers, so expectations already appear priced in.
Recent news & events searched · sourced
- 2026-06-08UpdateSelected for a ₩10.7 billion on-device AI city-safety-network pilot project (company official announcement)Short term: securing a large project increases the order backlog. Medium term: the key is whether the pilot leads to a formal business and recurring revenue. Source
- 2026-05-06UpdateSigned a single-sale/supply contract (DART disclosure)Short term: confirms an additional solution contract. Medium term: it needs checking whether the contract size and revenue-recognition timing feed into subsequent quarterly results. Source
- 2026-04-07IRDisclosed Q1 2026 new bookings of ₩11.8 billion (+111% year over year) (company official announcement)Short term: orders far exceeding revenue (₩3.58 billion) show growth momentum. Medium term: the key is the speed at which these orders translate into actual revenue and a swing to profit. Source
- 2026-03-24UpdateSigned a single-sale/supply contract (DART disclosure)Short term: a contract that underpins the Q1 order growth. Medium term: the revenue-recognition schedule for each contract could increase quarterly earnings volatility. Source
- 2025-12-30IRSupply of AI-optimization technology for Samsung's Exynos 2600 (company official announcement)Short term: secures a large-customer reference. Medium term: whether optimization revenue for mobile APs recurs is a gauge of the business's viability. Source
Figure cross-check computed ↔ external
Recent filings
- 2026-05-15PeriodicQuarterly report
- 2026-05-06Single supply/sales contract
- 2026-03-31Disclosure
- 2026-03-31Shareholders' meeting notice
- 2026-03-24Single supply/sales contract
- 2026-03-23PeriodicAnnual business report (amended)
- 2026-03-23PeriodicAnnual business report
- 2026-03-23Audit report
- 2026-03-16Shareholders' meeting notice
- 2026-03-16Shareholders' meeting notice
- 2026-03-10Single supply/sales contract
- 2026-02-10EarningsEarnings filing
📖 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.