Vuno Reports 13.3 Billion KRW in Sales Last Year, 60% Growth... Operating Loss of 16.3 Billion KRW

Medical artificial intelligence (AI) company VUNO announced on the 5th that it recorded sales of 13.27583 billion KRW and an operating loss of 16.33131 billion KRW based on consolidated financial statements last year. Sales increased by 60.4% compared to 2022, and operating loss decreased by 6.2%.

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Photo by Vuno

The company explained, "Along with the rapid growth of our flagship product, the AI-based cardiac arrest prediction medical device 'VUNO Med-DeepCARS,' sales of medical imaging product lines have increased domestically and internationally, and the business-to-consumer (B2C) segment is performing well, continuing the upward trend in performance." It added, "As a stable sales structure in the form of Software as a Service (SaaS), rather than one-time sales, has been established, sales growth continues," and "We expect to achieve break-even point (BEP) on a quarterly basis this year and annual profitability by 2025."

VUNO Med-DeepCARS exceeded the target of 60 hospitals for billing within the year, achieving single-product sales of 10 billion KRW last year. Based on monthly sales, it achieved more than a fourfold increase over the course of a year. This year, the company expects to continue this upward trend, having already signed contracts with more than 10 medical institutions, including two tertiary general hospitals last month. Additionally, the AI-based chest computed tomography (CT) reading assistance solution 'VUNO Med-Chest CT AI' continues to perform well in sales in Japan, and the chronic disease management brand 'HARTIVE,' launched in January last year as the first B2C product, recorded sales of 1 billion KRW in its first year.

VUNO’s goal for this year is to enter the U.S. market. They plan to launch the AI-based brain quantification medical device 'VUNO Med-DeepBrain,' which received U.S. Food and Drug Administration (FDA) approval in October last year. Following this, VUNO Med-DeepCARS, which was designated as an FDA Breakthrough Device in June last year?the first in the domestic medical AI industry?is conducting clinical research with local medical institutions to obtain FDA approval in the second half of this year.

Kim Junhong, VUNO’s Chief Financial Officer (CFO), said, “The most positive indicator compared to 2022 is that the SaaS-based sales structure has been stably established, allowing us to achieve record-high sales without one-time revenue.” He added, “We expect sales growth this year to be up to three times that of last year, raising expectations for achieving quarterly profitability in 2024 and annual profitability in 2025, which were our original targets.”

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