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KREDKRED
458870KOSDAQ

Seers

25,850
-150 (-0.58%)

Price chart

  • MA5
  • MA20
  • MA60

Adjusted prices rescale past bars with coefficients taken from the base prices the exchange itself published, correcting for corporate actions such as stock splits and reverse splits. Cash dividends are not reflected, and the risk measures on this page never use these adjusted figures.

Market capitalizationKRW 1T

Each day's close multiplied by the listed share count of this share class alone, sampled weekly. It is the figure for this issue only, not a combined total across common and preferred shares.

Overview

Summary

Seers Technology Co., Ltd. was established on August 11, 2009. The company is listed on the KOSDAQ market.

The company provides IoMT platform technology using wearable medical devices and AI algorithms. Its main services include mobiCARE for electrocardiogram analysis and thynC for inpatient monitoring, which are supplied to domestic and international medical institutions.

Business overview as filed

영업개황.jpg 영업개황 당사는 생체신호 분석 인공지능 알고리즘과 웨어러블 의료기기를 활용한 IoMT(Internet of Medical Things) 플랫폼 기술을 기반으로 국내외 의료기관을 대상으로 심전도분석 서비스 mobiCARE™와 입원환자모니터링 서비스 thynC™를 제공하고 있습니다.

(가) mobiCARE™ mobicare.jpg mobiCARE™ 2020년 7월 출시된 mobiCARE™ 부정맥 스크리닝과 진단을 위한 웨어러블 심전도 분석 솔루션으로, 국내 최초의 구독형 서비스를 통해 시장의 패러다임을 바꿨습니다. 당사는 의료기관이 겪는 고가의 장비 도입 비용과 전문 분석 인력 유치의 부담을 획기적으로 낮추었으며, 현행 보험 수가 체계 내에서 진단 검사가 활성화될 수 있도록 최적화된 사업 모델을 구축했습니다. 특히 인공지능(AI) 알고리즘을 활용해 24시간 이상의 방대한 심전도 데이터를 정밀하게 분석하고, 부정맥 전문의의 감수가 포함된 신뢰도 높은 보고서를 제공함으로써 일선 의료진이 의심 환자를 보다 효과적으로 진단할 수 있도록 지원합니다.

사업의 확장성 측면에서도 괄목할 만한 성과를 거두고 있습니다. 2023년 2월부터는 대학병원 부속 검진센터 및 전문 건강검진센터와 협력하여 수검자를 대상으로 한 부정맥 스크리닝 서비스를 전격 개시하였으며, 2024년에는 대형 건강검진 센터인 건강관리협회와 한국의학연구소에서 스크리닝 서비스를 시작하였습니다. 이를 통해 일상 속에서 부정맥 유증상자를 선별하고, 확진이 필요한 대상에게는 즉각적인 2차 정밀 진단 검사를 연계하는 선순환 구조를 확립했습니다. 그 결과 2025년 12월 기준, 전국 1천여개의 의료기관이 mobiCARE™를 도입하여 활용하고 있으며 누적 검사 시행 건수는 62만 건을 돌파하며 가파른 성장세를 증명하고 있습니다.

현재 당사는 순환기내과 중심의 거점 시장을 넘어 신경과, 호흡기내과, 신장내과, 내분기내과를 비롯해 정신과 및 재활의학과에 이르기까지 전 방위적인 진료 영역 확장을 추진 중입니다. 각 분과별 특성에 맞춘 웨어러블 바이오센서와 AI 알고리즘의 유효성을 검증하고 있으며, 궁극적으로는 다양한 진료 영역을 통합하는 플랫폼 기반의 진단 지원 서비스를 완성할 것입니다. 당사는 향후 의료보험 수가 체계의 변화, 신의료기술 허가 심사제, 원격진료 허용 범위 등 국내외 제도 개선 방향을 면밀히 고려하여 단계적으로 신규 시장을 확보하고 글로벌 진단 지원 솔루션의 표준으로 도약해 나갈 계획입니다.

(나) thynC™ thync.jpg thynC™ 당사의 입원 환자 모니터링 솔루션 thynC™는 병동 내 환자의 생체 활력 징후(Vital Signs)를 실시간으로 관리하며 스마트 의료 환경의 새로운 기준을 제시하고 있습니다. 2024년 정식 출시된 thynC™는 고도화된 무선 웨어러블 의료기기, 전용 무선 네트워크 인프라, 환자 중앙 감시 소프트웨어 및 데이터 분석 백엔드 시스템이 유기적으로 결합된 통합 플랫폼입니다.

본 솔루션은 입원 환자의 생체 신호를 공백 없이 실시간으로 모니터링하며, 이상 징후 발생 시 즉각적인 알람과 정밀 분석 기능을 제공하여 의료진이 골든타임 내에 신속하게 대응할 수 있도록 지원합니다. 특히 스마트 병동 구축에 대한 병원들의 수요와 의료진의 업무 편의성 향상, 그리고 수가 청구를 통한 병원 수익성 개선이라는 삼박자가 맞아떨어지며 시장에서 좋은 반응을 얻고 있습니다. 그 결과 2025년 누적 설치 병상 수 1만 2천 개를 돌파하며 독보적인 성장세를 입증하였습니다.

나아가 당사는 무선 웨어러블 기술과 인공지능(AI)의 융합을 통해 사업 영역을 전방위로 확대하고 있습니다. 단순히 병상 내 모니터링에 그치지 않고, 병원 도착 전 단계의 응급 환자 관리, 의료기관 간 원격 협진, 입원 환자 실시간 위치 추적, 퇴원 환자를 위한 재택 모니터링까지 아우르는 환자 진료 전주기(Continuum of Care) 통합 모니터링 플랫폼으로 도약하여 의료 서비스의 질적 혁신을 선도해 나갈 것입니다.

Company overview

가. 연결대상 종속회사 개황

(1) 연결대상 종속회사 개황

(2) 연결대상 회사의 변동내용

나. 회사의 법적ㆍ사업적 명칭

당사의 한글 명칭은 "주식회사 씨어스테크놀로지"이며, 영문으로는 "SEERS TECHNOLOGY CO., LTD." 라 표기합니다.

다. 설립일자

당사는 2009년 08월 11일에 설립되었습니다.

라. 본사의 주소, 전화번호, 홈페이지

마. 회사사업 영위의 근거가 되는 법률

보고기준일 현재 해당사항이 없습니다.

바. 중소기업 등 해당 여부

벤처기업확인서_250412~280411.jpg 벤처기업확인서_250412~280411 중소기업확인서_20250401~20260331_1.jpg 중소기업확인서_20250401~20260331_1

사. 대한민국에 대리인이 있는 경우에는 이름(대표자), 주소 및 연락처

보고기준일 현재 해당사항이 없습니다.

아. 주요 사업의 내용 및 향후 추진하려는 신규사업

당사는 생체신호 분석 인공지능 알고리즘과 웨어러블 의료기기를 활용한 IoMT(Internet of Medical Things) 플랫폼 기술을 기반으로 국내외 의료기관을 대상으로 진단지원 서비스 mobiCARE™와 입원환자모니터링 서비스 thynC™를 제공하고 있습니다.

자. 신용평가에 관한 사항

보고기준일 현재 해당사항이 없습니다.

차. 회사의 주권상장 및 특례상장에 관한 사항

Transcribed verbatim from the sentences the filer wrote in the fiscal 2025 business report (received 2026.03.19), tables and figures omitted.

  • The summary is written separately from the filed text and is not the filer's wording, so it may phrase things differently from or omit parts of the original, which is shown alongside for checking.
  • The company introduction reproduces the sentences the filer wrote in its business report, with tables, figures and the sentences that point to other sections of the report omitted, and the accuracy of their content has not been separately verified.

VaR

6.59%
[4.02%, 10.80%] · As of 2026-10-02
VaR by window

The headline's measure for each of the three windows on one scale, the dot being the estimate and the bar its interval. The windows are nested and share their observations, so the three readings are not three independent measurements. The selected window is highlighted.

Daily return distribution

The issue's daily returns over the chosen window counted into equal-width bins. The vertical lines mark the VaR and cVaR above on the loss side. The published VaR sample applies exclusion rules for halts and first sessions that this raw daily series does not, so the bars and the marks can differ slightly at the edges.

Drawdown

Deepest drawdown 67.2% (2026-09-03). How far below its previous peak the issue stood each day over the chosen window, a description of the path already travelled.

If these numbers are unfamiliarThere is a guide that walks through VaR, cVaR and annualized volatility in plain language.Read the guide

Characteristic line

0.65
Beta [0.46, 0.84] · KOSDAQ150 · As of 2026-10-08
Intercept
+0.190%[-0.433%, +0.812%]
R squared
0.17
Observations
252
Trading-time corrected beta
0.72[0.39, 1.05]
252-day rolling beta

A 252-day window rolled one day at a time over the longest daily span of the characteristic line. It shows when the beta against the KOSDAQ150 and the annualized volatility of the issue's excess return rose and fell, and unlike the headline figures above it carries no interval.

252-day rolling annualized volatility

Each point is one period's index excess return and issue excess return, and the line is the regression fitted to those points. The risk-free rate is the certificate of deposit rate.

Financials

2023Separate basis2024Separate basis2025Consolidated basisTTMConsolidated basis
RevenueKRW 100M1981482970
Revenue growth%—329.69——
Operating incomeKRW 100M-98-87163422
Net incomeKRW 100M-99-89160418
Attributable to ownersKRW 100M——161419
Attributable to minoritiesKRW 100M——-0-1
Operating margin%-520.07-107.1833.8943.52
Net margin%-526.10-109.5333.3143.07
ROE%——40.6761.28
ROA%-57.84-31.5929.6048.67
Debt ratio%111.4731.2436.8125.65
Current ratio%87.25423.78374.32522.01
Quick ratio%72.22392.17337.24470.93
Reserve ratio%40.33236.26-457.75-12.04
Free cash flowKRW 100M-86-1156—
FCF margin%-455.35-141.941.27—
OCF conversion%——13.00—
Capex to revenue%36.504.893.06—
Inventory daysdays—87.5——
EPSKRW-905-7524271,100
PERx——304.6835.67
BPSKRW——3,1241,795
PBRx——41.6521.86
Dividend per shareNot applicableNot applicableNot applicableNot applicable

Profit flowKRW 100M

Revenue
482
Gross profit
349
Cost of sales
133
SG&A expenses
186
Operating income
163
Profit before tax
161
Non-operating expenses
2
Net income
160
Income tax expense
1

This diagram traces where revenue goes at each step on its way to net income, using the filed amounts as they are. The non-operating result is taken as the difference between profit before tax and operating income and is shown as income or expense by its sign, and whatever a step's items leave unexplained is shown separately as other.

Revenue compositionKRW 100M

Margins%

Cash flow by activityKRW 100M

Balance sheet compositionKRW 100M

Debt ratio%

The left bar splits assets into current and non-current and the right bar splits the financing of those assets into liabilities and equity, so the two bars stand at the same height.

Quarterly resultsKRW 100M

Each quarterly bar is that quarter's three months and is never mixed with an annual figure. The growth rate is computed only where the same quarter a year earlier is also shown here, and is left blank when the base was a loss.

Free cash flow breakdownKRW 100M

Free cash flow is cash from operating activities less spending on property, plant and equipment, and all three bars keep the sign as filed.

Owners' net margin%

Asset turnoverx

Financial leveragex

ROE%

ROE is the product of the owners' net margin, asset turnover and financial leverage. All three use period-end balances as denominators, and profit and equity are on the owners' basis, so the product matches the ROE in the table.

Financial statements

Balance sheet

202320242025
171281542
9067146
81214396

Income statement

202320242025
1981482
-98-87163
-99-88161
-99-89160
Basic earnings per shareKRW-905-752427
Diluted earnings per shareKRW-905-752427
-100-92162

Cash flow statement

202320242025
Net incomefrom the income statement-99-89160
Total adjustments to operating cash flowcomputed20-22-140
-79-11121
-10-14-20
271922
Cash at beginning of periodKRW 100M10341108
41108111
Net change in cash and cash equivalentsKRW 100M-62673

In the latest fiscal year operating and financing activities brought cash in while investing activities spent it.

A year whose own filing is absent is filled from the restated comparative in the following filing, and is marked as such. Operating indicators outside the statements, such as order backlogs, and audit opinions are not covered here, and per-share figures follow the filed values without retroactive adjustment for share splits.

Transcribed verbatim from the sentences the filer wrote in the fiscal {year} business report (received {date}), with tables, figures and cross-references to other sections omitted.

The newest annual filing shown was received on 2026.03.19.

Audit opinion

Fiscal yearOpinionAuditorFiscal year end
2025적정의견Term 17예지회계법인2025-12-31
2024적정의견Term 16예지회계법인2025-12-31
2023적정의견Term 15성현회계법인2025-12-31

The auditor's name and the opinion are transcribed verbatim from the filed audit report, and the wording follows the filer. A fiscal year shown twice means the filing carried two entries that the source does not distinguish.

Korean audit opinions come in four kinds, where an unqualified opinion (적정) finds the statements fairly presented, a qualified opinion (한정) does so except for a stated matter, an adverse opinion (부적정) finds them not fairly presented, and a disclaimer of opinion (의견거절) means the auditor could not obtain enough evidence to form a view.

Valuation

Valuation multiplesx

PER and PBR divide each period's closing price by the per-share figure filed for that same period, and a loss period is left blank. The quarterly view is a multiple of quarterly EPS.

Valuation models

Five models priced under one set of assumptions, set beside the current price, with how each has moved by fiscal year.

Assumptions

Risk-free rate10-year treasury yield · 2026-10-084.40%
BetaDaily 1Y0.65
%
%
Cost of equity7.64%
Weighted average cost of capital7.64%
Initial growth40.7%
Effective tax rate0.4%
Base fiscal year2025
Current priceKRW25,850

The risk premium and the terminal growth rate are adjustable assumptions, and the rest follow from the data and the formulas.

ModelModel priceKRWVersus current price
Gordon growth modelNo dividend
Dividend discount model DDMNo dividend
Discounted cash flow FCFF1,143-95.6%
Discounted cash flow FCFE646-97.5%
Residual income model RIM20,825-19.4%
The table prices the newest fiscal year's accounts at today's treasury yield and the current price.

Dividend and residual income familyKRW

Discounted cash flow familyKRW

Each fiscal year's figures use that year's accounts and the treasury yield at its period end, with beta held at its current value, and splits or par changes are restated to the current share basis.

How the figures are calculated

Each model's formula is shown in symbols and then with this issue's own numbers substituted, step by step. Changing a value in the assumptions panel changes the numbers here too. Firm-level amounts are in hundred million won and per-share values in won.

Cost of equity

r=rf+β×ERPr = r_f + \beta \times \mathit{ERP}

r = 4.40% + 0.65 × 5.00% = 7.64%

Initial growth

g1=max⁡{ROE×(1−payout), 0},gt=g1+(gT−g1) t−1N−1g_1 = \max\{\mathit{ROE} \times (1 - \text{payout}),\,0\},\qquad g_t = g_1 + (g_T - g_1)\,\frac{t-1}{N-1}

g_1 = max(40.67% × (1 − 0.00%), 0) = 40.67%

Growth starts at this value in the first year and falls by equal steps each year to reach the terminal rate in the fifth

Residual income model RIM

P0=B0+∑t=1NRIt(1+r)t+RIN(1+gT)(r−gT) (1+r)N,RIt=(ROE−r) Bt−1P_0 = B_0 + \sum_{t=1}^{N} \frac{\mathit{RI}_t}{(1+r)^t} + \frac{\mathit{RI}_N (1+g_T)}{(r - g_T)\,(1+r)^N},\qquad \mathit{RI}_t = (\mathit{ROE} - r)\,B_{t-1}

B_0 = 3,124 KRW, ROE = 40.67%, payout ratio = 0.00%, r = 7.64%, g_T = 2.00%

YearOpening book valueEarningsEquity chargeResidual incomeDiscount factorPresent value
13,1241,2702391,0320.9290958
24,3941,7873361,4510.86311,252
36,1812,5134722,0410.80181,637
48,6943,5366642,8710.74492,139
512,2304,9739344,0390.69202,795
Terminal value73,0300.692050,537

P_0 = 3,124 + 8,781 + 50,537 = 62,442 KRW

Discounted cash flow FCFF

FCFF0=CFO−CapEx+Int (1−τ),WACC=ED+E r+DD+E kd (1−τ)\mathit{FCFF}_0 = \mathit{CFO} - \mathit{CapEx} + \mathit{Int}\,(1-\tau),\qquad \mathit{WACC} = \frac{E}{D+E}\,r + \frac{D}{D+E}\,k_d\,(1-\tau)

Base-year cash flow FCFF

FCFF_0 = 20.9 − 14.8 + 2.3 × (1 − 0.36%) = 8.4 KRW hundred million

Weighted average cost of capital

E = 9,817.0, D = 15.8 KRW hundred million; equity weight = 99.84%, debt weight = 0.16%; cost of debt k_d = 7.64%

WACC = 99.84% × 7.64% + 0.16% × 7.64% × (1 − 0.36%) = 7.64%

Vfirm=∑t=1NFCFFt(1+WACC)t+FCFFN(1+gT)(WACC−gT) (1+WACC)N,FCFFt=FCFFt−1(1+gt),P0=Vfirm−D+CashSharesV_{\text{firm}} = \sum_{t=1}^{N} \frac{\mathit{FCFF}_t}{(1+\mathit{WACC})^t} + \frac{\mathit{FCFF}_N (1+g_T)}{(\mathit{WACC} - g_T)\,(1+\mathit{WACC})^N},\qquad \mathit{FCFF}_t = \mathit{FCFF}_{t-1}(1+g_t),\qquad P_0 = \frac{V_{\text{firm}} - D + \text{Cash}}{\text{Shares}}
YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
140.67%11.90.929011.0
231.00%15.60.863113.4
321.33%18.90.801815.1
411.67%21.10.744915.7
52.00%21.50.692014.9
Terminal value2.00%388.60.6920268.9
Total339.1

Firm value = 339.1; less borrowings 15.8; plus cash 111.0 → 434.2 KRW hundred million

P_0 = 434.2 KRW hundred million ÷ 12,665,880 (shares) = 3,428 KRW

Discounted cash flow FCFE

FCFE0=CFO−CapEx+ΔD,P0=1Shares[∑t=1NFCFEt(1+r)t+FCFEN(1+gT)(r−gT) (1+r)N],FCFEt=FCFEt−1(1+gt)\mathit{FCFE}_0 = \mathit{CFO} - \mathit{CapEx} + \Delta D,\qquad P_0 = \frac{1}{\text{Shares}}\left[\sum_{t=1}^{N} \frac{\mathit{FCFE}_t}{(1+r)^t} + \frac{\mathit{FCFE}_N (1+g_T)}{(r - g_T)\,(1+r)^N}\right],\qquad \mathit{FCFE}_t = \mathit{FCFE}_{t-1}(1+g_t)

Base-year cash flow FCFE

FCFE_0 = 20.9 − 14.8 + 0.0 (net borrowing) = 6.1 KRW hundred million

YearGrowthCash flow KRW hundred millionDiscount factorPresent value KRW hundred million
140.67%8.60.92908.0
231.00%11.20.86319.7
321.33%13.60.801810.9
411.67%15.20.744911.4
52.00%15.50.692010.8
Terminal value2.00%281.10.6920194.5
Total245.3

P_0 = 245.3 KRW hundred million ÷ 12,665,880 (shares) = 1,937 KRW

The cost of equity is the risk-free rate plus beta times the equity risk premium. Initial growth is the newest fiscal year's return on equity times its retention ratio, floored at zero, and falls by equal steps from that value in the first year to the terminal rate in the fifth. Only the Gordon model grows at the terminal rate from the start. Discounted cash flow starts from operating cash flow less capital expenditure, where FCFF adds after-tax interest paid and discounts at the weighted average cost of capital, and FCFE adds net borrowing and discounts at the cost of equity. The residual income model adds to book value per share the present value of earnings above the equity charge.

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