Life Semantics announced on the 16th that it recorded consolidated sales of 2.45108 billion KRW and an operating loss of 3.04264 billion KRW for the first quarter of this year. Sales increased by 324.5% compared to the same period last year, but the operating loss also widened by 50.0%.
Regarding sales, the company explained that the expansion of the active pharmaceutical ingredient (API) business of its subsidiary Life Stical, acquired in December last year, was prominent. Life Stical posted sales of 1.67388 billion KRW last year, and this year, it reported sales of 1.63882 billion KRW in just the first quarter, nearly matching last year's total. The company stated, "thanks to manufacturing competitiveness, the production and distribution of health functional foods and sales of active pharmaceutical ingredients have increased," adding, "Having succeeded in developing new API products and signed supply contracts with domestic and overseas pharmaceutical companies, sales are expected to increase further in the second half of the year."
The non-face-to-face medical platform DoctorCall started providing non-face-to-face medical services to overseas travelers through collaboration with travel agencies this year, and the medical artificial intelligence (AI) solution business is also accelerating, as the recently approved hair density analysis AI CanopyMD HDAI received product approval from the Ministry of Food and Drug Safety.
Kim Taehyun, Head of Financial Strategy at Life Semantics, said, "First-quarter sales this year are the result of the company’s profit-centered management strategy launched this year being carried out smoothly," adding, "Despite increased costs for new business marketing and facility investments for new product production, the quarterly net loss is being managed at a level similar to the same period last year."
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