[Click eStock] "Lunit, Short-Term Surge Concerns... Positive Long-Term Growth"

Mirae Asset Securities evaluated Lunit on the 12th, stating, "While the short-term stock price surge is burdensome, the long-term growth potential is positive."

Lunit Insight is driving top-line growth as the penetration rate of the CAPEX model (AI solutions embedded in imaging device partner equipment, sold at a high price in overseas markets) increases.

As of the end of Q1, it is supplied to 2,000 global medical institutions (1,680 overseas, 320 domestic). In particular, sales to Fujifilm, a major partner, reached 3.9 billion KRW. Lunit Insight's sales are expected to grow steadily in the second half of the year.

Lunit Scope achieved 4.7 billion KRW in Q1, exceeding last year's annual sales, driven by one-time technology fee revenue from its major client Guardant Health.

Researchers Kim Chung-hyun and Lee Sang-won of Mirae Asset Securities said, "Since the partnership with Guardant Health is now on track, announcements of additional partnerships with global major companies will be important going forward," adding, "In that regard, the data presentation at ASCO next month is an event to watch."

In Q1 results, alongside top-line growth, the operating loss also significantly decreased, led by a 53% reduction in R&D expenses compared to the previous year. AI was introduced in the medical data generation process, and adjustments to non-core personnel were made. Company-wide cost control efforts are underway, and operating losses in 2023 are expected to decrease significantly compared to the previous year.

Sales for this year are forecasted at 39.1 billion KRW, a 182% increase from the previous year, with an operating loss of 19.4 billion KRW. Researchers Kim Chung-hyun and Lee Sang-won analyzed, "The current stock price is overvalued at a 12-month forward price-to-sales ratio (P/S) of 19x, compared to the post-listing average (12x) and peers (7x)."

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