In the 2024 fiscal year on a standalone basis, Ssiat reported revenue growth of 16.4% year-over-year and a sharp 48.8% increase in operating profit, confirming a meaningful recovery in core business fundamentals. However, the widening of net loss by 55.6% YoY is the critical concern in these results.
The divergence between operating profit improvement and deepening net loss implies that non-operating costs — likely interest expenses and financial charges — are more than offsetting the operational gains, suggesting that bottom-line improvement is unlikely without addressing the underlying balance sheet burden.
In July 2024, Ssiat was referred to prosecutors for violations of accounting standards in the preparation and disclosure of its financial statements, raising significant concerns about the reliability of historically reported figures and overall governance.
As of June 7, 2026, the stock traded at KRW 1,596 (+2.31% day-on-day), but the daily trading value of just KRW 7,993 renders the stock effectively illiquid, with price discovery barely functioning.
The company's market capitalization remains in the low billions of Korean won, a reflection of both its small scale and the inherent liquidity constraints of the KONEX market.
Despite multiple references to KOSDAQ transfer plans since its 2015 KONEX listing, the company has yet to achieve an upgrade, contributing to the persistent lack of broader investor attention.
In its early years, Ssiat attracted approximately KRW 5 billion in venture capital funding from Wonik Investment Partners, Ilshin Investment, IBK Capital, and Korea Investment Partners.