Polaris Office Reports 1.7 Billion KRW Operating Profit in Q3 Cumulative... "Establishing a Positive Earnings Trend"

[Asia Economy Reporter Jang Hyowon] Polaris Office, a specialist company in office software, has succeeded in maintaining its profitability trend in the third quarter of this year.

On the 16th, Polaris Office announced that its cumulative operating profit for the third quarter on a consolidated basis turned positive to 1.7 billion KRW compared to the same period last year. During the same period, cumulative sales increased by 15% year-on-year to 17.1 billion KRW, and net profit also turned positive to 200 million KRW compared to the same period last year.

For the third quarter on a consolidated basis, sales amounted to 5.6 billion KRW, operating profit was 600 million KRW, and net loss was 900 million KRW.

The stable growth of office software and enterprise collaboration solution businesses, driven by the expansion of non-face-to-face work environments following COVID-19, contributed to the increase in sales. It was explained that the highly scalable revenue base of the global office software "Polaris Office," which has 110 million subscribers, led to profitability.

A Polaris Office official said, "The office software business is currently achieving both quantitative and qualitative growth based on stable profitability," adding, "In particular, the broad scalability of the recently popular 'web office' product line and the strengthening of platform-based business capabilities will be a solid growth engine."

He continued, "We will continue to maintain the profitability trend," emphasizing, "Greater growth is expected next year through blockchain businesses such as the development of a newly launched NFT (Non-Fungible Token) trading platform."

This content was produced with the assistance of AI translation services.