Executive Summary
2025 was a landmark year for Pebblous, achieving both 'operational efficiency' and 'explosive growth' simultaneously. Building on the aggressive infrastructure and technology investments of 2024, Pebblous innovatively improved its cost structure while more than doubling revenue, proving a 'growth turnaround'.
Key metrics show revenue grew 115.7% YoY, while net losses decreased by 81.5%. SG&A expenses were cut by 52.2%, yet the company secured KRW 539M in cash with approximately 9 months of runway.
In 2026, Pebblous is preparing for explosive growth through KRW 1.7B in confirmed government R&D funding, the full-scale Hyundai ZER01NE collaboration, and Physical AI market entry. We are raising KRW 2B and seeking a lead investor to join this leap.
2. 2025 Financial Performance
In 2025, Pebblous achieved dramatic improvements in both revenue and profitability. This represents a textbook case of a 'growth turnaround' — simultaneous revenue growth and operational efficiency, not mere cost-cutting.
2.1. Revenue & Profitability
Revenue reached KRW 630,678,271, a 115.7% YoY increase, while net loss fell to KRW 261,472,902 — an 81.5% reduction. Revenue more than doubled while losses shrank dramatically, representing a textbook growth turnaround.
2.2. Lean Operation Results
SG&A expenses were reduced by 52.2% YoY, achieving a fundamental improvement in operational efficiency. This was not simple austerity but the result of 2024 investments translating into efficient operations.
2.3. Financial Health & Capital Structure
Pebblous resolved capital impairment, maintained positive equity, and secured sufficient cash liquidity for stable financial positioning.
At the current burn rate (as of early March), approximately 9 months of runway is secured — a stable position that will be further strengthened through additional fundraising to accelerate 2026 growth.
3. 2026 Business Plan & Outlook
2026 is the year Pebblous enters full-scale revenue scale-up based on the 2025 turnaround. As of end-February, we have secured a confirmed pipeline of KRW 2.2B (Gov R&D 1.9B + Revenue 0.3B), with an additional expected pipeline of KRW 1.03B from March onward — totaling a business base of KRW 3.23B.
3.1. Confirmed Pipeline (KRW 2.2B)
Combining government R&D grants and confirmed revenue contracts, we have secured a total confirmed pipeline of KRW 2.2 billion.
Government R&D (KRW 1.9B)
- MSIT AADS — KRW 1.7B
Agentic AI-based automation of data quality assessment (ISO 5259, EU AI Act) and synthetic data generation, applied to Physical AI domains including manufacturing, shipbuilding, robotics, and defense - Edge-case Synthetic Data — KRW 0.2B
City-scale synthetic data generation for predicting urban disruptions during national disaster scenarios such as Kori nuclear power plant incidents
Revenue Confirmed (KRW 0.3B)
- LG Uplus — KRW 0.1B
Data quality assessment for 4 LGU+ teams and synthetic data generation for AI model improvement via Shift OI program - PPS (Public Procurement) — KRW 0.15B
Government procurement of Data Clinic (designated innovation product) — MND DTAQ, Army T&E Command, DIP - Seoul Nat'l University Hospital — KRW 0.05B
Data quality assessment and synthetic data generation for medical AI models
3.2. Expected Pipeline (KRW 1.03B)
Beyond the confirmed pipeline, these are revenue opportunities currently in negotiation or proposal stages. We are expanding across diverse industries including defense, energy, and Physical AI.
- Physical AI Demonstration Project — KRW 0.3B
Participating with KAIST in MSIT demonstration project led by Jeonbuk National University, building data pipeline - Army T&E Command Pilot — KRW 0.25B
On-premises deployment of Data Clinic - Resource Recycling Synthetic Data — KRW 0.2B
Synthetic data generation and model development for hard-to-identify objects such as waste plastics - Korea Energy Technology Research Institute — KRW 0.1B
Agent development for energy conservation control - PPS Data Clinic — KRW 0.1B
Additional procurement delivery of Data Clinic innovation product - DIP Data Clinic — KRW 0.07B
Data quality assessment and synthetic data for Daegu manufacturing enterprises
3.3. Revenue Acceleration Strategy
Beyond confirmed and expected pipelines, we are accelerating mid-to-long-term revenue growth through three key strategic pillars.
- Hyundai ZER01NE (SI) Full Collaboration — Securing dominant position in the mobility AI data market with production process integration for revenue scale-up
- Data Platform Enhancement — Commercializing AI training data quality management automation for transition to high-value solution revenue
- Physical AI Market Leadership — Active participation in national strategic projects, forming expert consortiums for large-scale project wins and ecosystem leadership
4. Investment Plan
Based on the 2025 turnaround results and 2026 growth pipeline, we are conducting an investment round for full-scale scale-up. With Hyundai ZER01NE and Bluepoint investments confirmed, we are now recruiting a lead investor.
The target raise is KRW 2 billion at a pre-money valuation of KRW 18 billion. Hyundai ZER01NE (SI) and Bluepoint (AC) have confirmed their investment at the same valuation, and we are currently recruiting a Lead Investor to anchor the round.
Current Status
5. Conclusion: Why Pebblous Now?
Pebblous proved its value during the most challenging times with 2x revenue growth and 80% loss reduction.
With a strong Hyundai partnership and the national opportunity of Physical AI as a springboard, we invite a lead investor to join our explosive leap in 2026.