Medical AI corporations Coreline Soft(384470) said on the 14th that first-half sales on a consolidation basis were 2.885 billion won, up 45.7% from the same period last year. It is the largest half-year sales since its founding.
The operating loss was 5.47 billion won, down 21% from the first half of the previous year (6.93 billion won). Operating expenses also fell 6.2% to 8.36 billion won.
The company said overseas sales grew 123% to 1.786 billion won, driving growth. The share of overseas sales in total sales also expanded to 61.9%. In contrast, domestic sales fell 6.8% to about 1.1 billion won.
In overseas business, growth in the German market stood out. New client contracts increased from 10 annually last year to a cumulative 77 as of July this year. As Germany's low-dose CT lung cancer screening program ramped up, demand for AI reading solutions at related medical institutions increased, the company said.
The company is expanding recurring revenue models such as pay-per-use and subscriptions in overseas markets including Germany. In the United States, it is pursuing a "multi-disease" business that uses chest CT to analyze information on various conditions, including coronary artery calcification. In Korea, it plans to expand the supply of AI solutions centered on public medical institutions and the health checkup market.
Kim Jin-guk of Coreline Soft said, "While ensuring that contracts lead to actual operation and repeated use, we will expand our revenue base by additionally adopting AI solutions for analyzing various conditions for existing clients."