Seers Technology said on the 14th that operating profit in the third quarter came to 6.7 billion won, up about 290% from a year earlier, swinging to a profit. Revenue for the same period was 15.7 billion won, up 1,500% year over year. This is the largest quarterly performance since the company's founding.
Seers Technology (Seers) is a wearable artificial intelligence (AI) diagnostic monitoring company. According to the company, the record performance was driven by its flagship product, the AI-based inpatient monitoring platform "thynC™." Third-quarter revenue for thynC was 14.17 billion won, and cumulative orders currently total 17,000 units. In particular, in the third quarter, adoption began at major tertiary general hospitals nationwide, sharply boosting revenue.
The wearable electrocardiogram analysis solution "mobiCARE™" also posted third-quarter revenue of 1.4 billion won. To date, the number of tests totals 580,000, and 1,000 medical institutions have adopted it. In particular, revenue from health checkup centers rose 88% year over year and 133% on a cumulative basis.
Seers plans to continue strong results in the fourth quarter as well. As the fourth quarter coincides with the year-end health checkup peak season, the company said the number of mobiCARE tests is expected to surge, leading to the largest quarterly revenue of the year. At the same time, as thynC adoption gains full momentum at tertiary general hospitals, the expansion centered on large hospitals is expected to accelerate beyond secondary medical institutions.
A Seers official said, "This performance, which marked a profit for a second straight quarter, shows a turning point in the medical AI market and proves both the pillars of technological prowess and profitability," adding, "We will continue strong results in the fourth quarter to firmly secure an annual profit, while fully launching our global expansion to leap forward as a leading company in medical AI."