Genians Achieves Record High Performance... "Expecting Global Business Turnaround"

Genians recorded its highest-ever sales last year and succeeded in achieving 19 consecutive years of profitability.

The cybersecurity specialist Genians announced on the 20th that its sales in 2023 reached 42.9 billion KRW, an 11.5% increase compared to the previous year. Operating profit and net profit were 6.5 billion KRW and 6.2 billion KRW, respectively.

Genians achieved strong performance thanks to the steady sales growth of its NAC (Network Access Control) business. It not only maintained its dominant market share as number one in traditional strong markets such as public and financial sectors but also expanded its business coverage from large enterprises to small and medium-sized businesses, which is considered a significant accomplishment.

The EDR (Endpoint Detection & Response) business is also progressing smoothly. Genians supplies products to government ministries and public corporations. It recorded an overwhelming 78% market share as number one in the public procurement market. Additionally, it is actively targeting the private sector by broadening its customer base across various industries, including major banks, telecommunications, and services.

In the next-generation growth engine sector, ‘Zero Trust,’ Genians is also achieving good results. Last year, Genians participated as a consortium member in the Zero Trust demonstration project led by the Ministry of Science and ICT and secured its first customer with its proprietary solution.

Recently, the government has been actively fostering the information security industry and strengthening competitiveness by establishing various support policies and allocating budgets under the National Cybersecurity Strategy. It is expected that activities such as the creation of cybersecurity funds, the spread of new Zero Trust security systems, and partnerships to enhance industrial competitiveness will become more active, and Genians is also expected to benefit from these government policies.

Furthermore, Genians plans to continue its sales growth this year by focusing on global business. The company succeeded in surpassing 100 global customers last year. Notably, it achieved remarkable results in the Middle East market. Since then, it has been conducting active sales activities to expand its customer base in various countries such as Africa and Europe by analyzing customers by region and developing services with global partners.

Lee Dong-beom, CEO of Genians, said, “We achieved our highest-ever sales thanks to the stable revenue from NAC and the rapid growth of the EDR business,” adding, “We will strive to make this year the first year of a quantum leap by expanding our global business capabilities in line with changing environments such as government policies.”