Lunit Reports Q1 Sales of 24 Billion Won, Up 25% Year-on-Year

Operating Loss Narrows to 13.6 Billion Won

Down 35% Year-on-Year

Medical artificial intelligence (AI) company Lunit announced on May 12, 2026, that its consolidated financial statements for the first quarter of 2026 show sales of 23.952 billion won. This represents a 25% increase compared to the same period last year and marks the highest first-quarter performance in the company’s history.

Overseas sales reached 23.215 billion won, up 29% year-on-year, accounting for 97% of total revenue. Although medical AI businesses typically see revenue concentrated in the second half of the year, Lunit maintained strong performance from the first quarter, defying seasonal trends.

The operating loss for the first quarter was 13.593 billion won, and the EBITDA deficit stood at 6.819 billion won. Compared to the previous year, these figures represent a reduction of approximately 35% in operating loss and about 54% in EBITDA deficit.

The reduction in losses resulted from a combination of revenue growth and cost efficiency. The company reported that both research and development (R&D) expenses and fixed costs decreased year-on-year in the first quarter, and that measures to enhance profitability and reach EBITDA breakeven this year are now in full swing.

The cancer diagnosis business achieved first-quarter sales of 22.274 billion won, driven by the combined growth of Lunit Insight and subsidiary Lunit International product lines. This figure is up 22% compared to the same period last year. Lunit International extended its contract with RadNet, one of North America’s largest outpatient radiology operators, further boosting results.

In North America, synergies between Lunit and Lunit International are now materializing, with the region accounting for about 70% of total cancer diagnosis business revenue. In Japan, the share of sales increased by 70% compared to the previous quarter, thanks to a partnership with Fujifilm.

The cancer treatment business recorded sales of 1.679 billion won in the first quarter, representing 90% year-on-year growth. As the AI biomarker market rapidly expands, the company reported surging demand for its quantitative immunohistochemistry (IHC) analysis solution, 'Lunit Scope uIHC,' in the ADC (antibody-drug conjugate) market.

Lunit entered into a strategic collaboration in the first quarter with global contract research organization (CRO) leader CellCarta to accelerate the commercialization of companion diagnostics (CDx). Going forward, the company plans to significantly strengthen profitability by leveraging a business model that links anti-cancer drugs with AI biomarker companion diagnostics in cooperation with pharmaceutical companies.

Beomseok Seo, CEO of Lunit, stated, "In the first quarter of this year, we achieved record-high sales while significantly narrowing our losses, successfully combining top-line growth with improved profitability."

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