[Click eStock] "Vuno, a Growth Stock with Multiple Growth Momentums"

Shinhan Investment Corp. analyzed on the 27th that Vuno is a growth stock with multiple growth momentum factors. No investment opinion or target price was provided.

Vuno recorded sales of 5.5 billion KRW and an operating loss of 3.9 billion KRW in the first quarter. Although sales increased by 211.2% compared to the same period last year, losses continued. Jiwoo Baek, a researcher at Shinhan Investment Corp., said, "DICAS achieved sales of 1.6 billion KRW in January, 1.3 billion KRW in February, and 1.4 billion KRW in March," adding, "Sales slightly declined in February and March due to the resident doctors' strike, but recovery is expected from the second quarter, with DICAS sales estimated to exceed 5.5 billion KRW in the second quarter."

He explained, "The increase in hospitals adopting DeepCAS is encouraging," noting, "Currently, it is supplied to 92 hospitals, and especially with the start of supply to Gangnam Samsung Hospital, it is being rapidly introduced to the Big 4 hospitals."

He added, "The goal is to have 150 hospitals adopt it this year, including some of the Big 4 hospitals," and said, "FDA approval for DeepCAS in the United States is expected in the second half of the year, and full-scale U.S. sales are anticipated from 2025."

He continued, "There are multiple growth momentum factors, such as Lung CT insurance coverage starting in Japan in June and plans to add heart and kidney disease monitoring functions to Hativ," he added.

He emphasized, "The annual break-even point (BEP) sales is 30 billion KRW, and a return to profitability is expected next year," adding, "Once DeepCAS receives FDA approval and U.S. market entry becomes visible, we expect a completely different valuation and sales volume."