Obigo's Q1 Revenue Jumps 184% Year-on-Year

Obigo, a specialist in mobility life AX (AI transformation) platforms, announced on May 15 that it posted revenue of 10.5 billion won in the first quarter of this year. This figure represents an increase of approximately 184% compared to the same period last year. During the same period, operating loss and net loss were 1.5 billion won and 1.4 billion won, respectively.

In the first quarter, the company's robust topline growth was driven by the expansion of commercial AI content use cases, increased overseas royalty volume from Hyundai Motor Group, and growth in total vehicle management revenue. Operating loss was maintained due to research and development activities and proactive investments in preparation for new business commercialization.

The company is focusing its capabilities on commercializing key new business areas, including AI content, AI car care, and physical AI solutions. The AI content series, "Pix Series," is in advanced supply discussions with multiple global automotive OEMs and is accelerating its entry into the global market by signing a business agreement with ThunderSoft, a leading cockpit software company in China. The AI car care business, in collaboration with its subsidiary Carang, is making smooth progress in B2B partnerships with OEM on-site maintenance, insurance, and rental car companies, and is expected to deliver meaningful business results within this year.

The recently secured investment of 15 billion won will be focused on strategic M&A in the physical AI sector. Obigo plans to leverage this to expand the reach of its physical AI browser "BOLT" beyond automobiles to industries such as energy, defense, shipbuilding, and robotics, thereby accelerating its business expansion in the SDx (Software Defined Everything) field. In fact, Obigo is already broadening its industrial portfolio by conducting proof-of-concept (PoC) projects with global leaders in the energy infrastructure sector for the adoption of "BOLT."

Obigo CEO Hwang Doyeon stated, "This year will mark the phase in which Obigo's core new businesses enter the commercial stage in the global market and prove their value," adding, "We will seek partnerships with companies that can create synergy with our physical AI technology using the secured funds, and through this, deliver innovative physical AI solutions across diverse industrial fields."

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