[Click eStock] "Classys, Expectation for North American Market Entry"

Daol Investment & Securities analyzed on the 9th that Classys' overseas consumables sales increased, leading to first-quarter earnings this year that exceeded market expectations. The target stock price was raised from the previous 46,000 KRW to 60,000 KRW.

Classys recorded sales of 50.4 billion KRW and operating profit of 26.5 billion KRW in the first quarter of this year. These figures represent increases of 29% and 33%, respectively, compared to the same period last year.

Jonghyun Park, a researcher at Daol Investment & Securities, explained, "Due to inventory adjustments at the Brazilian agency, overseas equipment sales increased by 15% compared to the same period last year," adding, "Overseas consumables sales rose by 66% as free consumables were used up."

He continued, "After launching Shrink Universe domestically in 2022, the cycle of increased consumables sales is similar," and added, "It is estimated that sales will reach 61.7 billion KRW and operating profit 30.1 billion KRW in the second quarter of this year."

He stated, "VoluNumer, which received FDA approval in the US last month, will sign contracts with partners in the second half of this year," and predicted, "As growth drivers continue to emerge in North America, the stock price rise will not be short-lived." He emphasized, "Since the company is about to enter the North American market, a value reassessment is necessary," and noted, "The North American aesthetic medical procedure market is showing increasing interest in non-invasive procedures."