[Click e-Stock] "S2W Accelerates Growth on Rising Cybersecurity Demand"

On December 22, iM Securities analyzed that S2W is expected to accelerate its growth due to rising demand for cybersecurity and security. No investment opinion or target price was provided.

S2W is a data intelligence company established in 2018, specializing in artificial intelligence (AI) and big data analytics. The company comprehensively tracks and proactively blocks signs of hacker intrusions, ranging from illegal activities on the dark web to security threats targeting enterprises.

Lee Sangheon, a researcher at iM Securities, stated, "S2W has developed an AI-based big data analytics platform that can be utilized in a variety of fields, including defense and security, general industry, and corporate security." He added, "Currently, S2W provides its solutions to major public and government agencies both domestically and internationally, such as INTERPOL, Japanese government agencies, the Singapore Ministry of Defense, and the Taiwan Stock Exchange, as well as to large enterprises in industries such as manufacturing, finance, and commerce."

The company's main products and services include XARVIS, a cyber security intelligence solution for national security and investigative agencies; QUAXAR, a cyber threat response intelligence solution for corporations and institutions; and SAIP, an industry-specialized AI platform designed to meet market demand for big data analytics capabilities tailored to specific domains.

He explained, "Due to a series of security incidents this year, demand for cyber threat response is expected to surge, which could accelerate S2W's growth." He continued, "QUAXAR's sales have increased year after year, from 2.2 billion won in 2022 to 4 billion won last year. Sales are expected to rise significantly to 6.2 billion won this year and 10 billion won next year."

He also expressed expectations for overseas growth. "S2W plans to expand its overseas sales, starting with Japan and extending to Asia and the Middle East," he said. "Based on government contracts secured in Japan and Singapore, overseas sales growth is expected to accelerate starting next year." He added, "As S2W becomes a key reference for other agencies within the same country as well as public and private clients in other countries, its overseas expansion will become more visible, further highlighting its growth potential."