[Click eStock] "Biimatrix, Korea's Palantir, Raises Expectations"

Kiwoom Securities analyzed on the 24th that BI Matrix is a leading company in the domestic Business Intelligence (BI) solution market, which is expected to be Korea's Palantir. No investment opinion or target price was provided.

BI (Business Intelligence) refers to technology that collects, analyzes, and transforms corporate data to assist organizational decision-making. Oh Hyunjin, a researcher at Kiwoom Securities, stated, "As the amount of data handled by companies increases and the demand for real-time data analysis for faster decision-making grows, the importance of the BI industry is rising," but also assessed, "High solution system costs and a shortage of data specialists have limited market growth."

BI Matrix is a leading company in the domestic BI solution market. It has enhanced its competitiveness in the market through solutions that improve user accessibility, such as low-code solutions that require no coding.

Researcher Oh explained, "The recently launched solution ‘G-MATRIX,’ which utilizes generative AI technology, improves usability through natural language processing technology and a self-developed large language model (LLM), reducing the time companies spend on data tasks," adding, "The company’s know-how in security and access management through its existing BI business is also understood to enhance the competitiveness of its products." He further added, "It is understood that large-scale supply to major domestic companies has been completed, and various projects are underway with other companies and public institutions."

Kiwoom Securities expects BI Matrix’s sales and operating profit this year to reach 44.6 billion KRW and 7.2 billion KRW, respectively, representing increases of 45% and 256% compared to the previous year. He estimated, "AI solution sales this year are expected to be about 9 billion KRW, a 129% increase from the previous year," emphasizing, "BI Matrix’s solutions align with global BI industry trends, and securing major references proves its competitiveness, suggesting the possibility of even higher growth."

He noted, "Attention is also drawn to the fact that overseas expansion through U.S. partner companies is becoming full-fledged," explaining, "Considering that domestic companies of similar size with growth strategies through AI services are mostly valued at over 200 billion KRW, it is judged that the corporate value of BI Matrix, which shows performance growth through AI solutions, also needs to be re-evaluated."