South Korea AI Stocks Split on Q3 Results

Q3 Results Diverge

South Korea's listed AI companies showed split performance in third-quarter results.

MakinaRocks Revenue Surge

MakinaRocks reported record quarterly revenue of 7.2 billion won, up 214% year-on-year.

MakinaRocks Cumulative Growth

Cumulative revenue for first three quarters reached 14.3 billion won, surpassing last year's full-year total.

Nota Revenue Growth

Nota's Q3 revenue rose 51% year-on-year with an order backlog of 15.4 billion won.

WantedLab Losses

WantedLab swung to an operating loss of 13.106 million won on Q3 revenue of 9.9 billion won.

Core Business Decline

Core HR business lost 64.303 million won due to declining recruiting revenue.

Investment Segment Boost

WantedLab's financial investment segment offset losses with 74.647 million won profit.

AX New Business Growth

WantedLab's AX business grew to 8 billion won order backlog with 2.47 billion won revenue.

Cash Flow Issues

Short-term financial products fell from 13 billion won to 6 billion won in nine months.

Investment Assets Risk

39.6% of assets are Level 3 investments with no active market prices.

CEO Statement

Lee Bok-ki said AI transformation requires talent, change management and agents.

“As more companies embark on the transition to AI-native operations, demand is growing for talent, change management and agents all at once.”

Profitability Warning

WantedLab's share of recruiting AI in revenue dropped from 78.13% to 60.71% in Q3.

AX Revenue Split

AX revenue from government programs and Ennoia platform remains unseparated in reports.

Financial Health Risks

Provision rate for bad debts rose to 31.49% with overdue receivables at 470.9 million won.