Lunit Achieved Record Sales Last Year but Operating Losses Widened...

Achieving 11 Billion Won in Overseas Sales... 80% of Total Revenue

[Asia Economy Reporter Myunghwan Lee] Medical artificial intelligence (AI) company Lunit achieved its highest-ever sales last year. However, it also increased its operating loss, continuing to post a deficit.

Lunit announced on the 16th that its consolidated sales last year reached 13.866 billion KRW, a 109% increase compared to the previous year. On a quarterly basis, sales in the fourth quarter of last year amounted to 3.942 billion KRW.

However, operating losses increased compared to the previous year. Lunit's operating loss last year was 50.651 billion KRW, representing a 10.8% increase in the deficit compared to the previous year. Net loss for the period was 39.118 billion KRW, reducing the deficit by 46.9% compared to the previous year.

Lunit explained that strong overseas sales drove the growth in revenue. Overseas sales accounted for approximately 11 billion KRW, about 80% of total sales last year. Overseas sales more than doubled compared to the previous year’s 4.669 billion KRW. During the same period, domestic sales increased by 45%.

Lunit stated that overseas sales of its chest X-ray image analysis solution for cancer diagnosis, 'Lunit Insight CXR,' and mammography image analysis solution, 'Lunit Insight MMG,' increased significantly. With the results of partnerships with global medical device companies becoming visible, Lunit emphasized that after securing 500 clients in June last year, the number of clients surged to over 1,300 within six months by the end of the year.

Regarding the expansion of operating losses, the company explained that "operating losses increased due to an increase in personnel compared to the previous fiscal year."

Lunit plans to focus on expanding the market in the cancer treatment field this year. Recently, Lunit globally launched an AI-based pathology analysis solution developed in collaboration with U.S. bio-healthcare company Guardant Health, diversifying its product portfolio into the cancer treatment sector. Additionally, Lunit will concentrate its capabilities on producing business results by strengthening joint research with global pharmaceutical and bio companies using the AI biomarker platform 'Lunit Scope.'

Seobeom Seok, CEO of Lunit, said, "Lunit achieved a remarkable milestone last year by surpassing annual sales of 10 billion KRW, leading the global medical AI industry. This year, as we officially enter the new market of cancer treatment, we will continue to prove Lunit’s business value and competitiveness in the global market."

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