1. Obzen’s Q2 Results: A Mixed Bag
Obzen reported revenue of KRW 6.5 billion (up approximately 57% YoY) and operating profit of KRW 700 million (turning to profit) in Q2 2025, demonstrating growth. However, a net loss of KRW 10.1 billion raised concerns amongst investors. These results showcase the conflicting aspects of Obzen: growth potential in the AI market versus financial instability.
2. Growth Drivers: Leading AI CRM and New Solutions
As a leader in the domestic CDP and AI CRM solutions market, Obzen is accelerating its growth through next-generation AI solutions like ‘Obzen Genesis.’ Securing major clients such as KB Kookmin Card and KB Securities, alongside expansion into the Vietnamese market, demonstrates Obzen’s competitiveness. Continued R&D investment is a key driver for future growth.
3. Financial Risks: High Debt Ratio and Net Loss
Despite the positive growth trajectory, a high debt ratio (29,381%) and a substantial net loss amplify concerns about Obzen’s financial health. The declining revenue trend since 2022 and decreasing order backlog also contribute to the risk factors.
4. Investment Strategy: Navigating Growth Potential and Risk
- While Obzen is poised to benefit from the long-term growth of the AI market, a cautious approach considering the financial risks is necessary.
- Closely monitor the market adoption and monetization of new solutions like ‘Obzen Genesis,’ the success of global market expansion, and efforts to improve financial health.
- Whether Obzen can turn its net loss around will be a crucial factor influencing future stock performance.