Genians Achieves 1.9 Billion KRW Operating Profit in 2Q... "77% Increase YoY"

Cybersecurity specialist Genieans announced on the 1st that its operating profit for the second quarter reached 1.87 billion KRW, marking a 77% increase compared to the same period last year. Revenue and net profit for the period were 11.89 billion KRW and 2.16 billion KRW respectively, representing increases of 28% and 38%.

The ‘NAC (Network Access Control)’ segment, which holds an overwhelming market share as number one, saw sales growth driven by increased demand from large enterprises in both the traditionally strong public sector and private sectors such as finance and manufacturing. The cloud NAC division surpassed 180 cumulative customers, expanding its business coverage to include the small and medium-sized business (SMB) sector.

Genieans’ new growth engine, the EDR (Endpoint Detection & Response) business, is also progressing smoothly. The company succeeded in winning back clients who previously used global EDR products by replacing them with its own, and consecutively supplied EDR solutions to leading domestic manufacturing conglomerates.

To advance its Zero Trust business, Genieans acquired SSL-VPN company FutureTech Information & Communications, thereby expanding its presence in the early Zero Trust market.

Genieans plans to realize business advancement and maintain stable performance growth through revenue recovery driven by increased demand from key customers and expanding alliances to broaden the security industry base. In the NAC sector, demand will be discovered through close linkage with SSL-VPN and Zero Trust fields. In the EDR sector, the company intends to expand its business base through collaboration with security firms, including the development of the ‘K-Security Alliance’ and the ‘OPEN XDR Integrated Security Platform’.

Lee Dong-beom, CEO of Genieans, stated, “Not only is NAC continuing its stable growth, but the growth in EDR and Zero Trust sectors is also qualitatively advancing. Alongside efforts to expand global business, new opportunities are continuously being created.”

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