1. Noeul’s Q2 2025 Earnings: What Happened?

Noeul recorded ₩1.4 billion in revenue, ₩-50 billion in operating loss, and ₩-53 billion in net loss in Q2 2025. While revenue surpassed the expected ₩0, growth has stalled, remaining at the same level as the previous quarter. Operating and net losses continue.

2. Analyzing Positive and Risk Factors: Why These Results?

Positive Factors

  • • 74.6% year-over-year revenue growth
  • • Decrease in loss margin
  • • Global market expansion (EU CE certification, achievements in the African market)
  • • Differentiated technology (On-device AI, solid staining technology)

Risk Factors

  • • Slowing revenue growth in Q2
  • • High R&D and SG&A expenses
  • • High debt ratio
  • • Proportion of service revenue
  • • Exchange rate and interest rate volatility

3. Investment Strategy: What Should Investors Do?

Noeul possesses differentiated technology in the high-growth potential diagnostic testing market. However, securing short-term profitability and financial stability remain key challenges. Investors should closely monitor the following:

  • • Ability to accelerate sustainable revenue growth
  • • Improvement in profitability through R&D and SG&A efficiency
  • • Efforts to stabilize financial structure

A cautious approach is recommended at this point. It’s advisable to observe future quarterly results and business progress before formulating an investment strategy.