Ray

레이 · 228670

Health Care Medical Devices · KOSDAQ

Small-cap

Market cap US$58.9M (₩81.3B)

Overview

Ray makes digital imaging equipment and software for dental clinics, tools such as dental X-ray machines and facial scanners that help dentists diagnose and plan treatment.

Its products are used by dental professionals, and it is listed on KOSDAQ, South Korea's tech-focused small-cap exchange. According to its filing, Ray is the only domestic company offering a full lineup of digital imaging systems for dentistry, and it has expanded into cloud-based dental software under the Rayteams platform.

Summary is AI-generated and may contain errors · figures from DART filings

Financials

Source: DART · FY ending Dec · latest FY2025

Revenue · FY2025

US$80.7M

▲ +39.4% YoY

Operating profit · FY2025

−US$7.1M

Loss narrowed

Net income · FY2025

US$338.5K

Turned profitable

Revenue, operating profit and net income by fiscal year (USD; KRW in parentheses).
Metric	FY2023	FY2024	FY2025
Revenue	US$105.7M(₩145.9B)	US$57.9M(₩79.8B)	US$80.7M(₩111.3B)
Operating profit	US$4.4M(₩6.1B)	−US$32.1M(−₩44.3B)	−US$7.1M(−₩9.8B)
Net income	−US$2.2M(−₩3B)	−US$45.9M(−₩63.3B)	US$338.5K(₩467.2M)

Revenue

FY2023US$105.7M
FY2024US$57.9M
FY2025US$80.7M

Operating profit

FY2023US$4.4M
FY2024−US$32.1M
FY2025−US$7.1M

Net income

FY2023−US$2.2M
FY2024−US$45.9M
FY2025US$338.5K

Key ratios (FY2025)

ROE

0.6%

Debt/Eq

157.0%

Op. margin

-8.8%

Net margin

0.4%

Rev. YoY

▲ +39.4%

Why it matters

Ray operates as a small and venture-certified enterprise under Korean classification, a status that carries specific regulatory and support implications distinct from larger listed peers.

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