[Click eStock] "Clobot, Expected Expansion in 2025 through Robot S/W and H/W"

Hana Securities forecasted on the 8th that Clobot is expected to see significant growth in both robot software (S/W) and hardware (H/W) sectors starting in 2025.

Kim Seong-ho, a researcher at Hana Securities, analyzed in a report on the same day, “The direction for robot adoption in industrial processes is clear, and Clobot’s solution penetration rate is expected to continuously expand according to the importance of software.”

Clobot’s main products include ▲the universal indoor autonomous driving robot software ‘Chameleon’ ▲the heterogeneous robot FMS (multi-robot control system) and integrated control system ‘Chromes’.

Existing autonomous driving robot software had limitations in that individual software had to be applied depending on the type of robot by manufacturer. This led to increased costs borne by the end users.

However, Clobot’s Chameleon software can be applied to various manufacturers’ robot platforms with a single software and can supply autonomous driving solutions tailored to diverse hardware forms. Through this, Clobot is expected to expand sales by securing delivery references to domestic robot manufacturers including Hyundai Robotics.

He explained, “In a situation where various manufacturers’ collaborative robots coexist within industrial processes, the need to improve compatibility between robots is emerging,” adding, “Clobot’s Chromes secures compatibility through a cloud-based control system, enabling continuous generation of maintenance revenue of about 10% or more after software sales.”

As of 2023, the sales proportion by business was ▲Clobot services 51.3% ▲Clobot solutions 4.3% ▲ROAS (robot hardware distribution) 49.4%, and profitability improvement is expected through the high-margin Clobot services.

Additionally, Clobot’s subsidiary ROAS is responsible for robot hardware distribution and plays an important role in Clobot’s growth. In October last year, Clobot signed a partnership with Boston Dynamics and is currently handling the domestic exclusive distribution of their flagship quadruped robot ‘Spot’ through ROAS. ROAS is also responsible for exclusive distribution of global robot manufacturers such as Canada’s Clearpath Robotics and China’s Unitree, recording steady sales growth since 2021.

Researcher Kim Seong-ho stated, “The effect of securing Boston Dynamics customers is expected to be fully reflected in performance from 2025,” and added, “There is also promising potential for securing additional customers and expanding robot distribution business into new countries in the future.”

Clobot recorded consolidated sales of 11.6 billion KRW and an operating loss of 5.9 billion KRW in the first half of 2024. He forecasted, “Although an annual loss in 2024 seems inevitable due to R&D expenses and listing costs, if profitability improves with increased penetration of robot software, expansion of ROAS distribution, and the effect of securing new customers is fully reflected in 2025, a turnaround to profitability can be expected.”