[Click eStock] "Lunit's Cancer Diagnosis AI... Overseas Sales Growing Rapidly"

On May 26, SangSangin Securities assessed that Lunit's sales are growing rapidly, driven primarily by exports.

In the first quarter of this year, Lunit reported consolidated sales of 19.2 billion KRW, a 273.6% increase compared to the same period last year, with an operating loss of 20.7 billion KRW. By product, cancer diagnosis software accounted for 89% of sales, while cancer-related services made up 4%. Domestic sales represented 6.6% of total sales, while overseas sales accounted for 93.4%, indicating that sales are expanding rapidly with a focus on exports.

Ha Taegi, a researcher at SangSangin Securities, evaluated that the global market sales growth potential for 'Lunit INSIGHT,' an AI-based imaging interpretation support solution for lung and breast cancer diagnosis, is high.

Ha stated, "In particular, if business synergies are realized with Volpara Healthcare, which was acquired last year in the United States, the growth potential of Lunit INSIGHT will be significant." He added, "Although the oncology service segment is experiencing high growth rates, its sales volume is not large in the short term, so growth should be expected from a long-term perspective."

He continued, "Lunit INSIGHT obtained medical device approval from the Ministry of Food and Drug Safety in May, which is expected to gradually boost its entry into the domestic non-reimbursed market." He also noted, "Lunit has developed its first integrated AI solution with Volpara, called Lunit INSIGHT Risk, and plans to apply for FDA approval in the United States around the second half of 2025. As a result, sales of Lunit and its subsidiaries in the United States are expected to grow rapidly."