Polaris Office Reports Q3 Sales of 239 Billion KRW and Operating Profit of 10.4 Billion KRW, Accelerating Growth Amid Strong Subsidiary Performance

Polaris Office has reaffirmed its improved performance at the group level by maintaining steady growth in the third quarter.

The company announced on the 17th that its consolidated cumulative sales for the third quarter of this year reached 239 billion KRW, with operating profit at 10.4 billion KRW. This represents increases of 18% and 11%, respectively, compared to the same period last year.

This improvement in performance is attributed to balanced growth across its subsidiaries. Polaris Uno led the group's expansion with a 24% year-on-year growth, driven by increased sales of synthetic products for wigs and favorable exchange rates.

The core software (SW) platform business also continued its growth, focusing on business-to-business (B2B) and collaboration solutions, in line with the digital transformation (DX) trend among enterprises. On a separate basis, sales increased by 10% year-on-year, demonstrating solid results.

The collaboration solutions segment showed particularly high growth. In the third quarter, separate sales in this segment increased by 89% compared to the same period last year. Polaris Office, as a platinum partner of the global collaboration solution company Atlassian, supplies Jira, Confluence, and other solutions to domestic companies, responding to the rising demand for DX.

Furthermore, the company is accelerating ecosystem expansion through collaboration with Maven Cloud Service (Maven), a subsidiary of HandySoft, which was acquired last September. Maven holds Microsoft Cloud Solution Partner (Microsoft CSP) status, and is expected to create strong synergy with Polaris Office through cross-selling of Azure-based services.

The B2B business also maintained steady growth. Driven by increased demand from corporate clients for co-editing features and the spread of tablet-based document solutions with pen input capabilities, separate B2B sales rose by 12% year-on-year.

Polaris Office plans to further expand its growth in B2B and business-to-government (B2G) sectors by strengthening collaboration with groupware specialist HandySoft starting next year. To this end, the two companies will hold a joint business briefing on the 19th under the theme of "AI Integrated Ecosystem Strategy" and announce their strategies for the coming year.

Plans to develop standard solutions integrating groupware, office, and artificial intelligence (AI), as well as upselling strategies leveraging HandySoft's broad customer base and other synergy initiatives among affiliates, will also be unveiled at the event.

The business-to-consumer (B2C) segment is also laying the foundation for growth. During a back-to-school promotion in September, Polaris Office achieved a 68% increase in AI office subscription plan users. The main driver was the growing demand for access to a variety of AI tools at reasonable prices.

A Polaris Office representative stated, "With the increase in B2C users, we expect average revenue per paying user (ARPPU) to grow. Based on the synergy with HandySoft and Maven, we will strengthen our presence in the B2G and B2B markets, achieving both stable renewal revenues and new customer acquisition to sustain the group's growth momentum."

Meanwhile, Polaris Group, with Polaris Office at its core, includes subsidiaries such as Polaris Sewon, Polaris Uno, Polaris AI, Polaris AI Pharma, and HandySoft, and continues to expand its AI-based business across all industries.