Seegene Posts Q3 Sales of 113.5 Billion KRW... Operating Profit Up 82%

On November 7, Seegene, a molecular diagnostics solutions company, announced through a regulatory filing that it recorded sales of 113.5 billion KRW and operating profit of 9.6 billion KRW in the third quarter of this year. Compared to the same period last year, sales increased by 4.3% and operating profit surged by 82.8%, continuing a clear trend of performance improvement. In particular, operating profit rose by 197.9% from 3.1 billion KRW in the previous quarter, maintaining a solid profitability trend since the first half of this year.

Sales of reagents, which include Seegene's main products-diagnostic reagents and extraction reagents-accounted for 77.2% of total sales, reaching 87.7 billion KRW. Notably, among diagnostic reagents, sales of non-COVID products amounted to 74.4 billion KRW, representing 84.9% of total reagent sales. Extraction reagent sales reached 10.9 billion KRW, and COVID product sales totaled 2.4 billion KRW, demonstrating a stable sales trend.

Sales of diagnostic reagents were driven by the non-respiratory syndromic product line, which offset the seasonal fluctuations of respiratory products. Total sales from the non-respiratory product group grew by 18.0% year-on-year. Gastrointestinal (GI) products increased by 11.7% to 21.5 billion KRW, human papillomavirus (HPV) products rose by 30.2% to 10.8 billion KRW, and sexually transmitted infection (STI) products grew by 8.8% to 16.5 billion KRW.

Kim Jungyong, Head of Finance at Seegene, stated, "The cost of goods sold decreased due to changes in the proportion of products and goods, as well as product mix changes. In addition, overall cost efficiency was achieved through reductions in selling and administrative expenses and increased financial income due to fluctuations in the euro exchange rate." He added, "In particular, we expect further improvement in sales and profitability in the fourth quarter, as the recovery of respiratory product sales due to global seasonal factors will be added."

Meanwhile, Seegene has attracted significant market attention for the commercialization of its real-time diagnostic data sharing and analysis platform STAgora™ and its unmanned PCR automation system CURECA™, following their unveiling at major academic conferences such as ADLM 2025 in Chicago last July and LMCE 2025 in Incheon last October.

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