Vuno Reports 5.5 Billion KRW in 1Q Sales with Operating Loss Maintained... "Aiming for Quarterly Profit Turnaround Within the Year"

Medical AI company VUNO announced on the 13th that it recorded consolidated sales of 5.53827 billion KRW and an operating loss of 3.86308 billion KRW in the first quarter of this year. Sales increased by 212% compared to the same period last year, and the operating loss decreased by 10%.

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Photo by Vuno

VUNO explained that it has shown continuous sales growth since the first quarter of last year. Along with the continuous growth of its flagship product, the AI-based cardiac arrest risk monitoring medical device VUNO Med-DeepCARS, sales have increased overseas, including in Japan, resulting in an upward trend in performance. The number of hospitals using VUNO Med-DeepCARS has increased to 85, and the number of beds using it has exceeded 34,000. In particular, since VUNO Med-DeepCARS charges on a per-bed, per-day basis proportional to actual usage, it is expected to generate continuous cumulative sales and drive growth each quarter.

Overseas sales are also growing. VUNO Med-Chest CT AI, an AI-based chest computed tomography (CT) reading assistance solution operating in Japan, recently secured a local sales network through a memorandum of understanding (MOU) with its partner M3 AI. Furthermore, as the number of hospitals covered by health insurance for AI medical devices is expected to expand from June, continuous sales growth is anticipated in the second half of the year.

This year, VUNO aims to enter the U.S. market. It is preparing to launch VUNO Med-DeepBrain, an AI-based brain quantification medical device that has obtained U.S. Food and Drug Administration (FDA) approval. Additionally, VUNO aims to acquire FDA approval within the year for VUNO Med-DeepCARS, the first AI medical device in the domestic medical AI industry designated as a breakthrough device by the FDA, as well as VUNO Med-Chest X-ray, an AI-based chest X-ray reading assistance solution.

Kim Junhong, VUNO’s Chief Financial Officer (CFO), said, “The first quarter sales this year reflect all the major management directions that will lead the company going forward, and will serve as a foundation to increase the possibility of achieving quarterly profitability by 2024 and annual profitability by 2025, which were our previous goals.”