[Market Focus] Seers Technology Surges on Strong Q3 Earnings

As of 9:20 a.m. on November 14, shares of Seers Technology on the KOSDAQ market were trading at 120,000 won, up 20% from the previous day's closing price. The stock has been hitting record highs for several consecutive days, and this surge appears to be driven by the company's strong third-quarter results announced on the same day, which increase the likelihood that it will become the first domestic company in the medical AI sector to achieve an annual profit.

On this day, Seers Technology disclosed through its quarterly report that it posted third-quarter revenue of 15.7 billion won and operating profit of 6.8 billion won. Compared to the same period last year, revenue jumped by 1,500% (from 980 million won), and operating profit turned positive from a loss of 3.5 billion won. Even compared to the second quarter of this year, when the company first recorded a quarterly profit, revenue and operating profit increased by 98% and 357%, respectively. As a result, Seers Technology has achieved cumulative revenue of 27.8 billion won and operating profit of 7.8 billion won to date.

Seers Technology's main businesses are the AI-based inpatient monitoring platform "thynC™" and the wearable ECG analysis solution "mobiCARE™." In the third quarter, thynC™ recorded sales of 14.17 billion won (cumulative 23.99 billion won). The cumulative number of orders has now surpassed 17,000. In the third quarter, sales rose significantly as the product was adopted in major tertiary hospitals nationwide. mobiCARE™ posted third-quarter sales of 1.4 billion won (cumulative 3.58 billion won). The number of tests conducted currently stands at 580,000.