Genians Reports 9.2 Billion KRW in Q1 Sales... 'Securing Growth Momentum'

Operating Profit of 1.3 Billion Won 'Turned to Black'... Net Income Increased by 450.7%
Achieved Record High Performance in Q1, Traditionally an Off-Season

Genians achieved its highest-ever first-quarter performance despite the traditional off-season and concerns over an economic downturn.

The integrated security platform company Genians announced on the 15th that its consolidated first-quarter sales this year reached 9.1 billion KRW, a 59.9% increase compared to the same period last year. Operating profit recorded 1.33 billion KRW. Net profit for the period increased by 450.7% to 1.24 billion KRW.

The NAC business segment, which has established itself as a domestic industry standard solution, led growth as demand increased not only from the traditionally strong public and financial sectors but also from general enterprises. Large corporations have focused on IP management within the network security domain, but they are expanding into NAC for more advanced and integrated network-level management. NAC performs roles beyond IP management, enhancing network security and providing functions such as managing various devices and blocking unauthorized network access. It enables safe network operations.

The EDR business supplied EDR to major commercial banks and grew by expanding demand to the secondary financial sector and securing defense-related projects. With the largest number of customers domestically, the demand for win-back of competitor products also increased, allowing rapid market capture. Since its launch as a subscription model, EDR’s share has steadily increased. Contract renewals, additions, and expansion projects from existing customers have grown. As technologies and services related to EDR are being integrated, Genians is conducting strategic collaborations with various vendors, brightening the market outlook for the second half of the year.

Analyst Park Jong-seon of Eugene Investment & Securities analyzed, "Genians is expected to drive performance growth through the stable NAC business and the EDR business," adding, "Benefits from the expansion of the Zero Trust Network Access (ZTNA) market are also anticipated."

Lee Dong-beom, CEO of Genians, said, "Despite concerns over economic slowdown, we have demonstrated both top-line growth and profit generation in the first quarter, establishing ourselves as a sustainably growing company," and added, "We will do our utmost to secure a strategic advantage in the next-generation security paradigm of ZTNA and the cloud business sector."