Korea Investment & Securities analyzed on the 10th that CLASSYS is expected to experience high growth this year due to the expansion of sales in the United States and Europe. It raised the target price from 60,000 won to 67,000 won and recommended a 'buy' investment opinion. The closing price for CLASSYS on the previous trading day was 52,600 won.
Korea Investment & Securities forecasted that CLASSYS's consolidated revenue for the fourth quarter of last year would reach 73.7 billion won, a 56.7% increase from the previous year, while operating profit is expected to rise by 57.9% to 35 billion won. The financial results will be reflected starting from the fourth quarter of last year following the completion of the merger with Iruda in October of last year.
Research Institute Kang Si-on noted, 'Excluding Iruda, CLASSYS's performance is expected to enter the 60 billion won range for the first time on a quarterly basis,' adding that 'while high-intensity focused ultrasound (HIFU) will see a decrease compared to the previous quarter as agents who achieved sales targets like the end of last year cease operations early, strong sales of radio frequency (RF) skincare medical devices will significantly offset this.'
CLASSYS is expected to continue its high growth this year as sales increase in the United States and Europe. Korea Investment & Securities projected that CLASSYS's revenue will grow by 41.3% year-on-year to 342.1 billion won, with operating profit expected to rise by 36.5% to 165.5 billion won.
Research Institute Kang explained, 'Following the release of 'Volumer' at the end of October last year, sales in the United States are expected to gain momentum this year, while in Europe, the 'Shrink Universe' and Volumer are set to receive European Union (EU) medical device regulatory (CE MDR) certification in the first half and are planned for launch in the second half.'
The sales growth of Volumer consumables is also an expected factor. Research Institute Kang remarked, 'Last year, Volumer consumables sales were estimated to account for only 9% of total consumables sales, but considering that the usage period of free tips averages 8 to 9 months, the transition from free to paid tips is expected to accelerate this year.'
He further stated, 'The growth secured through the expansion of sales in the U.S. and Europe this year, the entry of HIFU into the U.S. and HIFU-RF into China in 2026, and the launch of new HIFU products in 2027 is expected to justify the valuation premium.'