Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₩7,670, the stock trades at a trailing P/E ratio of 33.8x. Average trailing P/E is 9x in the Healthcare Services industry in South Korea. Total loss to shareholders of 30% over the past three years. Announcement • May 27
ezCaretech Co., LTD, Annual General Meeting, Jun 25, 2026 ezCaretech Co., LTD, Annual General Meeting, Jun 25, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 20, jangchungdan-ro 13-gil, jung-gu, seoul South Korea Valuation Update With 7 Day Price Move • Dec 22
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩9,650, the stock trades at a trailing P/E ratio of 43.5x. Average trailing P/E is 8x in the Healthcare Services industry in South Korea. Total loss to shareholders of 3.3% over the past three years. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩19,760, the stock trades at a trailing P/E ratio of 44.5x. Average trailing P/E is 8x in the Healthcare Services industry in South Korea. Total returns to shareholders of 1.1% over the past three years. Reported Earnings • Aug 16
First quarter 2026 earnings released: ₩13.00 loss per share (vs ₩106 profit in 1Q 2025) First quarter 2026 results: ₩13.00 loss per share (down from ₩106 profit in 1Q 2025). Revenue: ₩15.9b (down 17% from 1Q 2025). Net loss: ₩88.9m (down 113% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 21
Full year 2025 earnings released: EPS: ₩341 (vs ₩180 in FY 2024) Full year 2025 results: EPS: ₩341 (up from ₩180 in FY 2024). Revenue: ₩72.6b (up 6.9% from FY 2024). Net income: ₩2.29b (up 90% from FY 2024). Profit margin: 3.2% (up from 1.8% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • May 31
ezCaretech Co., LTD, Annual General Meeting, Jun 26, 2025 ezCaretech Co., LTD, Annual General Meeting, Jun 26, 2025, at 10:00 Tokyo Standard Time. Location: ballroom, b1, 354, dongho-ro, jung-gu, seoul South Korea Reported Earnings • Feb 20
Third quarter 2025 earnings released: EPS: ₩216 (vs ₩121 in 3Q 2024) Third quarter 2025 results: EPS: ₩216 (up from ₩121 in 3Q 2024). Revenue: ₩17.7b (up 15% from 3Q 2024). Net income: ₩1.45b (up 78% from 3Q 2024). Profit margin: 8.2% (up from 5.3% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has fallen by 24% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₩134 (vs ₩95.00 in 2Q 2024) Second quarter 2025 results: EPS: ₩134 (up from ₩95.00 in 2Q 2024). Revenue: ₩18.7b (up 11% from 2Q 2024). Net income: ₩901.8m (up 41% from 2Q 2024). Profit margin: 4.8% (up from 3.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 22
Full year 2024 earnings released: EPS: ₩180 (vs ₩1,518 loss in FY 2023) Full year 2024 results: EPS: ₩180 (up from ₩1,518 loss in FY 2023). Revenue: ₩67.9b (down 7.2% from FY 2023). Net income: ₩1.21b (up ₩10.8b from FY 2023). Profit margin: 1.8% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Reported Earnings • Feb 18
Third quarter 2024 earnings released: EPS: ₩121 (vs ₩582 loss in 3Q 2023) Third quarter 2024 results: EPS: ₩121 (up from ₩582 loss in 3Q 2023). Revenue: ₩15.4b (down 18% from 3Q 2023). Net income: ₩813.0m (up ₩4.48b from 3Q 2023). Profit margin: 5.3% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Nov 19
Second quarter 2024 earnings released: EPS: ₩95.00 (vs ₩203 in 2Q 2023) Second quarter 2024 results: EPS: ₩95.00 (down from ₩203 in 2Q 2023). Revenue: ₩16.9b (down 4.8% from 2Q 2023). Net income: ₩639.8m (down 50% from 2Q 2023). Profit margin: 3.8% (down from 7.2% in 2Q 2023). Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 17
First quarter 2024 earnings released: ₩129 loss per share (vs ₩199 loss in 1Q 2023) First quarter 2024 results: ₩129 loss per share (improved from ₩199 loss in 1Q 2023). Revenue: ₩17.1b (flat on 1Q 2023). Net loss: ₩864.4m (loss narrowed 31% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has remained flat, which means it is well ahead of earnings. New Risk • Jul 27
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩123.0b (US$96.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 44% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (7.4% increase in shares outstanding). Market cap is less than US$100m (₩123.0b market cap, or US$96.8m). Reported Earnings • Jun 21
Full year 2023 earnings released: ₩1,518 loss per share (vs ₩510 loss in FY 2022) Full year 2023 results: ₩1,518 loss per share (further deteriorated from ₩510 loss in FY 2022). Revenue: ₩73.2b (down 21% from FY 2022). Net loss: ₩9.59b (loss widened 201% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Feb 19
Third quarter 2023 earnings released: ₩582 loss per share (vs ₩73.00 profit in 3Q 2022) Third quarter 2023 results: ₩582 loss per share (down from ₩73.00 profit in 3Q 2022). Revenue: ₩18.8b (down 11% from 3Q 2022). Net loss: ₩3.66b (down ₩4.12b from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Jan 18
ezCaretech Co., LTD announced that it expects to receive KRW 9.89999856 billion in funding from Kakao Healthcare Co., Ltd. ezCaretech Co., LTD announced a private placement of 448,776 common shares at an issue price of KRW 22,060 for gross proceeds of KRW 9,899,998,560 on January 18, 2023. The transaction will include participation from Kakao Healthcare Co., Ltd. for 448,776 shares. The securities have a lock-up period of one year. The method of capital increase will be through third party allocation. The transaction has been approved by board of directors of the company. The expected date of payment is February 9, 2023. Reported Earnings • Aug 21
First quarter 2023 earnings released: ₩199 loss per share (vs ₩93.00 profit in 1Q 2022) First quarter 2023 results: ₩199 loss per share (down from ₩93.00 profit in 1Q 2022). Revenue: ₩17.2b (down 4.7% from 1Q 2022). Net loss: ₩1.25b (down 315% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Jun 23
Full year 2022 earnings released: ₩510 loss per share (vs ₩1,268 loss in FY 2021) Full year 2022 results: ₩510 loss per share (up from ₩1,268 loss in FY 2021). Revenue: ₩92.1b (up 20% from FY 2021). Net loss: ₩3.19b (loss narrowed 60% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 23
Upcoming dividend of ₩86.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 25 July 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 0.2%. Lower than top quartile of South Korean dividend payers (2.6%). In line with average of industry peers (0.3%). Reported Earnings • Nov 19
Second quarter 2022 earnings released: ₩67.00 loss per share (vs ₩574 loss in 2Q 2021) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2022 results: Revenue: ₩23.8b (up 12% from 2Q 2021). Net loss: ₩421.0m (loss narrowed 88% from 2Q 2021). Reported Earnings • Jun 18
Full year 2021 earnings released: ₩1,268 loss per share (vs ₩227 loss in FY 2020) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2021 results: Revenue: ₩76.9b (up 19% from FY 2020). Net loss: ₩7.92b (loss widened 445% from FY 2020). Upcoming Dividend • Mar 23
Upcoming dividend of ₩86.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 15 July 2021. Trailing yield: 0.5%. Lower than top quartile of South Korean dividend payers (2.3%). Higher than average of industry peers (0.2%). Reported Earnings • Mar 06
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₩21.0b (up 8.5% from 3Q 2020). Net income: ₩1.59b (up ₩1.37b from 3Q 2020). Profit margin: 7.5% (up from 1.1% in 3Q 2020). Is New 90 Day High Low • Feb 17
New 90-day high: ₩19,900 The company is up 3.0% from its price of ₩19,400 on 19 November 2020. The South Korean market is up 22% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Healthcare Services industry, which is down 3.0% over the same period. Is New 90 Day High Low • Jan 29
New 90-day low: ₩17,750 The company is down 4.0% from its price of ₩18,500 on 30 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Healthcare Services industry, which is down 1.0% over the same period. Is New 90 Day High Low • Jan 12
New 90-day low: ₩18,300 The company is down 7.0% from its price of ₩19,700 on 14 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Healthcare Services industry, which is down 16% over the same period. Reported Earnings • Dec 04
Second quarter 2021 earnings released: ₩574 loss per share The company reported a mediocre second quarter result with increased losses and weaker control over expenses, although revenues were improved. Second quarter 2021 results: Revenue: ₩21.3b (up 61% from 2Q 2020). Net loss: ₩3.58b (loss widened 126% from 2Q 2020). 
