[Click eStock] "Deepnoid Turns Profitable in Q3... Enters Growth Trajectory"

IV Research analyzed on the 3rd that Deepnoid will start turning profitable from the third quarter of this year and enter a full-fledged growth trajectory. No investment opinion or target price was presented.

Deepnoid is an AI specialized company with over 70% of its approximately 160 employees being artificial intelligence (AI) research personnel. It provides customized AI solutions that process multi-modality data such as text, images, videos, and voice to analyze optimal data suitable for customer requirements.

IV Research forecasted that sales in the industrial AI sector will be fully reflected from the second quarter of this year. IV Research stated, "The performance for secondary batteries, which was ordered in the fourth quarter of last year, is expected to be reflected from the second quarter of this year," adding, "We also judge that the possibility of additional orders within the year is high."

It added, "Deepnoid's industrial AI solution is software that improves process yield rather than factory automation, and since it can be widely applied across industries, there is a high possibility of item expansion into markets such as display and semiconductors."

Regarding medical AI, it was expected that sales will enter a growth trajectory from the end of this year. IV Research explained, "The brain aneurysm diagnostic support solution ‘DEEP:NEURO (Deep Neuro),’ a diagnostic assistance solution, currently has about 20 hospitals secured," and "It is expected to expand to about 80 hospitals by the end of the year and enter a full-fledged sales growth trajectory."

Also, "In the overseas market, Deepnoid is focusing on the Southeast Asian market," analyzing that "Due to the characteristics of Southeast Asian countries targeting the uppermost class, the price for remote reading markets is 5 to 10 times higher than in Korea, while regulations are fewer and the number of competitors is limited."

IV Research predicted that Deepnoid will succeed in turning profitable from the third quarter of this year. IV Research explained, "Deepnoid’s performance will enter a full-fledged growth trajectory in 2024," adding, "Quarterly maximum sales have been renewed since the second quarter of this year, and operating profit is expected to turn positive from the third quarter."

It continued, "Especially from 2025, the supply of medical AI solutions for screening centers is expected to expand and exports will be in full swing," and "Also, as the industrial AI order performance such as secondary batteries is reflected in sales, the 2025 performance is estimated to achieve sales of 33 billion KRW and operating profit of 10 billion KRW."

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