DXNVX Posts Record High Sales of 32.2 Billion Won Last Year

[Asia Economy Reporter Jang Hyowon] DxVx announced that it recorded its highest-ever sales of 32.2 billion KRW last year and succeeded in turning operating profit positive for the first time in seven years.

Through a preliminary earnings announcement the day before, DxVx revealed that its consolidated sales last year reached 32.2 billion KRW, a 331% increase compared to the previous year, marking its best performance ever. Operating profit was 2.5 billion KRW, turning positive for the first time in seven years since it had been in the red since 2016. Meanwhile, net income recorded a loss, but this was an accounting valuation expense that did not involve cash outflow.

DxVx achieved its record-high performance by successfully improving its management structure under new leadership, strengthening both financial and non-financial capabilities.

In particular, it expanded its Genomic CRO business, leveraging its core molecular diagnostics capabilities, into domestic and international B2B markets. At the same time, its new biohealthcare business, launched with the new corporate motto of providing microbiome-based healthcare solutions through diagnostics, is reported to have driven sales growth.

Additionally, by acquiring Korea Biopharm, which owns GMP production facilities, as a 100% subsidiary, DxVx completed an integrated business structure linking ‘research-development-clinical-production-distribution,’ supporting external growth. Since last year, it has been leading each business area proactively by recruiting experts in various fields, and the performance improvement trend is expected to continue this year as well.

Park Sangtae, CEO of DxVx, said, “We plan to steadily secure various pipelines to enhance future value,” adding, “We will focus our capabilities on discovering and addressing social unmet needs, expanding the value of our business through all basic research and commercialization, analysis and diagnostic services specialized in ‘균’ (microbes), and microbiome core technologies.”