Medical artificial intelligence (AI) corporations JLK said on the 6th that its operating loss on a consolidation basis last year was 13.18385 billion won, up 3.55% from a year earlier.
Meanwhile, revenue grew more than double to 3.35766 billion won, up 135.2% year over year. Although the top line expanded significantly, the deficit appears to have widened as expense increased and fixed costs continued to weigh.
The company cited the expansion of subscription-based AI solution supply to major tertiary general hospitals and regional base hospitals in Korea as the driver of revenue growth. It noted that as hospital adoption increases, the effects of the business model transition are gradually showing up in results.
JLK will push to expand its overseas business this year, focusing on Japan and the United States. In Japan, it is pursuing both direct sales through its local subsidiary and a partnership strategy, led by its stroke AI solution that has obtained regulatory approval. In the U.S. market, it also plans to broaden business opportunities centered on major medical institutions and academic societies.
Chief Executive Kim Dong-min of JLK said, "This performance is meaningful in that it goes beyond short-term revenue growth and indicates that the business model transition has begun to connect to financial performance," and added, "This year, we will maintain our growth trajectory focusing on the Japanese and U.S. markets."