– Sales grew 103% year-over-year, maintaining an average growth rate of 24% for seven consecutive quarters.
Operating loss decreased by approximately 25% compared to the same period last year, driven by sales growth and improved profitability.
3billion (CEO Changwon Geum), an AI-based rare disease diagnostic company, announced on the 13th that it recorded 3.2 billion won in sales in the third quarter of this year. This represents a 103% increase compared to the same period last year and a 25% increase compared to the previous quarter.
Since the first quarter of last year, 3billion has seen seven consecutive quarters of sales growth, maintaining a steady average of 24% per quarter. Cumulative sales for the third quarter reached 7.8 billion won, already surpassing the previous year's annual sales of 5.8 billion won. The company is expected to more than double its year-over-year sales in the fourth quarter.
The operating loss for the third quarter was approximately KRW 1.3 billion, a 25% improvement from the same period last year. The profit and loss structure is stabilizing, driven by both sales growth and cost efficiency improvements. The operating loss-to-sales ratio decreased from 108% in the same period last year to 39% in the third quarter of this year.
Key growth factors in the third quarter include: ▲Expanding global demand for AI-based rare genetic disease diagnostic services; ▲Supply of whole-genome sequencing (WGS) testing to domestic tertiary hospitals; and ▲Expansion of diagnostic testing for specific diseases in collaboration with pharmaceutical companies.
In Korea, the company signed a contract for rapid whole genome sequencing (WGS) testing for critically ill infants in the neonatal intensive care unit (NICU) of Samsung Medical Center Seoul, and jointly operated an early screening program for patients with hereditary neuromuscular diseases with the global pharmaceutical company Biogen, driving domestic sales growth.
Genetic diagnostic service sales have rapidly expanded overseas, leveraging a network of medical professionals in over 70 countries across Europe, the Middle East, and Asia. Overseas sales now account for approximately 70% of total revenue. Furthermore, "GEBRA," the AI genetic mutation analysis software launched in the first half of this year, is being provided to global institutions in SaaS format, achieving rapid sales growth.
Geum Chang-won, CEO of 3billion, stated, "We have achieved double the sales growth year-over-year in each quarter this year, strengthening the competitiveness of our AI-based diagnostic technology and market trust." He added, "Along with this sales growth, our profit and loss structure is also gradually improving, and we expect this improvement to continue in the fourth quarter." He added, "We will expand collaborations with domestic and international medical institutions and pharmaceutical companies to enhance diagnostic accessibility and solidify our position as a global leader in AI-based genetic diagnostics."
You must be logged in to post a comment.