[Click eStock] "Deepnoid, 458% Surge in Sales in 2024... More Growth This Year"

Sangsangin Securities analyzed on the 22nd that there are great long-term growth expectations for Deepnoid in the field of medical artificial intelligence (AI).

Deepnoid's main businesses include AI-based image reading solution technology for medical (hospitals), security (airports/ports), and IT manufacturing inspection equipment solutions. As of last year, the sales composition ratio was 4% medical AI, 9% security AI, and 73% inspection equipment solutions.

Researcher Ha Taegi of Sangsangin Securities stated in the report, "Last year's sales are estimated at 11 billion KRW, a 458% increase compared to the previous year," and added, "The business portfolio is diversified, which increases corporate stability, and this year, with high growth in medical AI and security AI, total sales are expected to increase by 79.1% to 19.7 billion KRW."

Although medical AI sales are still small in scale, there is great expectation for future growth potential. Deepnoid's main products/services include the brain aneurysm diagnosis assistance AI solution DeepNeuro (DEEP: NEURO), chest X-ray image diagnosis assistance DeepChest (DEEP: CHEST), and low-dose chest CT-related solution DeepLung (DEEP: LUNG).

DeepNeuro is already generating (small) sales as a non-reimbursed service, and DeepChest is being sold to hospitals with approval from the Ministry of Food and Drug Safety. DeepLung is also expected to generate sales as soon as testing is completed at large screening centers.

Researcher Ha said, "There are plans to launch an automatic reading report generation solution (M4CXR) based on large language models (LLM) by 2025 to increase sales," and added, "We see great growth potential in the reading report service."

He also added, "Besides medical AI, sales from security AI services (DeepSecurity) at domestic and Southeast Asian airports and AI-based IT manufacturing inspection equipment solutions (DeepFactory) are estimated to be around 9 billion KRW in 2024 and expected to grow to about 13 billion KRW in 2025," and said, "These are expected to play a cash cow role."

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