Lunit said on the 13th that, on a consolidation basis, its operating loss for the third quarter was 21.55581 billion won, a 30.1% increase from the same period a year earlier, based on preliminary figures.
Revenue for the same period was 19.57572 billion won, up 16.7% from a year earlier. Revenue grew, but the loss widened, so it did not lead to improved profitability.
On a cumulative third-quarter basis, Lunit's operating loss was 63.4 billion won, up 28.6% from a year earlier. However, the company said the cumulative third-quarter operating loss margin improved by 32 percentage points from a year earlier. Cumulative revenue was 56.65287 billion won, up 66% year over year.
Lunit said it is carrying out integrated marketing and cross-selling of products with Volpara, which it acquired in May last year. Revenue related to digital breast tomosynthesis (DBT) in the North American market has grown for five consecutive quarters.
The organizational structure was also streamlined into a "One Lunit" system. Volpara's parent company changed its name to "Lunit International," and the U.S. subsidiary changed its name to "Lunit Americas," with each responsible for sales outside the Americas and in North America and Latin America, respectively. The plan is to unify the brand and operating systems to improve market access and operational efficiency by region.
Cumulative revenue for the third quarter in the standalone business segment was 20.08 billion won, up 20% from a year earlier. Revenue from the artificial intelligence (AI) imaging analysis solution "Lunit Insight" and the biomarker platform "Lunit Scope" also increased.
The company said third-quarter net profit was due to a temporary accounting effect from increased valuation gains on convertible bonds (CB).
Seo Beom-seok, CEO of Lunit, said, "With improvements in profit-and-loss indicators such as the operating loss margin, the company has entered a phase of qualitative growth," and added, "We are pursuing revenue growth and operational efficiency at the same time, so our goal of turning profitable in 2027 is also on track."