Polaris Office, 1Q Revenue Up 587.5% YoY... "Synergy from Subsidiary Integration, Full-Scale AI Business Launch"

Polaris Office, a specialized office software (SW) company, announced on the 17th that it recorded consolidated sales of 46.6 billion KRW and an operating profit of 1.8 billion KRW in the first quarter. These figures represent increases of 587.5% and 173.8%, respectively, compared to the same period last year. Net profit for the same period was 4.8 billion KRW.

The company stated, "Since the third quarter of last year, the full reflection of Polaris Sewon’s performance has driven growth in both scale and profitability compared to the same period last year. Starting from the second quarter of this year, the performance of Polaris AI will be reflected, and based on the stable core businesses of our affiliates, we expect to fully benefit from the blooming artificial intelligence (AI) market."

Polaris Office provides cloud services supporting real-time simultaneous editing across various operating systems (OS) including mobile, web office, Windows, and Mac. Since its launch in 2014, it has approximately 130 million users worldwide, with 80% of them being overseas users.

On the 9th, the company launched 'On-Device Office AI for Mac,' which can be used without internet access. It can be utilized as an installable solution even in closed network environments, offering various solutions. By satisfying customer needs, Polaris Office aims to diversify its customer base into B2B (business-to-business) and B2G (business-to-government) sectors and secure market leadership.

A Polaris Office representative said, "Just as our service expanded from the PC software installation market to the smartphone market, additional growth is possible with the emergence of new technologies and new form factors. We also plan to actively pursue synergy with Polaris AI, which operates IT businesses."

Meanwhile, Polaris Office’s standalone sales increased by 200 million KRW to 6.9 billion KRW compared to the same period last year, while operating profit decreased by 100 million KRW to 500 million KRW.