Lunit's First Half Sales Surpass Last Year's Total Revenue... Deficit Also Reduced

First Half Sales Reach 16.4 Billion KRW, 'All-Time High'

Medical AI company Lunit's sales in the first half of the year reached an all-time high, surpassing last year's annual sales in just half a year. The deficit in the second quarter of this year also decreased compared to last year.

Lunit Signage. [Photo by Lunit]

Lunit announced on the 11th that its consolidated sales in the second quarter of this year increased by approximately 118% to 5.445 billion KRW. As a result, Lunit recorded sales of 16.416 billion KRW in the first half of this year. This figure exceeds last year's total sales of 13.866 billion KRW in just half a year. Compared to the first half of last year, it increased by 200%.

Operating loss during the same period was 10.045 billion KRW, which is about a 27% reduction in deficit compared to the same period last year.

Lunit explained that the increase in overseas sales in the first half of the year drove the record half-year performance. Overseas sales in the first half of this year amounted to 14.091 billion KRW, accounting for about 85.8% of total sales. Domestic sales recorded 2.325 billion KRW, representing 14.2% of sales.

In the first half of this year, the number of medical institutions worldwide that adopted the AI imaging diagnostic solution 'Lunit Insight' surpassed 2,000. In particular, Lunit focused on expanding its global market share by targeting the Asian and Middle Eastern markets. The AI biomarker platform 'Lunit Scope' also achieved results by not only earning technology fees through projects with global companies in the first half but also starting data analysis service sales through CLIA LAB for the first time.

Seobum Seok, CEO of Lunit, said, "In the first half of the year, we recorded the highest half-year performance by expanding overseas sales and pioneering profitable new markets such as the Middle East. In the second half, we will do our best to achieve better results, supported by ongoing B2G (business-to-government) projects and policy support such as health insurance coverage in Korea and Japan."

Summary of Lunit's Performance in the First Half of 2023. [Image provided by Lunit]

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