(Health Korea News / Chang-yong Lee) A stock market forecast predicted that the operating profit of Vuno, a medical artificial intelligence (AI) company, could turn into a surplus early next year. Vuno’s sales in the third quarter of this year were KRW 6.9 billion, up 92% from the same period last year, but operating profit during the same period was -KRW 2.8 billion.
In a corporate brief containing this information on the 21st, Kiwoom Securities analyzed that VUNO’s AI-based cardiac arrest prediction solution, ‘VUNO Med-DeepCARS (DeepCARS)’, is the factor that will lead to a return to profit. In fact, 85% (KRW 5.9 billion) of Vuno’s sales in the third quarter of this year came from one item, Vuno Med Deep Cars, so this product is responsible for Vuno’s core sales.
According to the report, Vuno Med DeepCath earned KRW 1.2 billion, KRW 1.9 billion, KRW 2.6 billion, KRW 3.7 billion, KRW 4.5 billion, KRW 5.5 billion, and KRW 5.9 billion, respectively, in seven quarters from the first quarter of last year to the third quarter of this year. It is showing growth every quarter, recording sales of .
Currently, there are a total of 17 tertiary general hospitals that have introduced DeepCass, including Kyunghee University Hospital, Samsung Seoul Hospital, and Hanyang University Hospital. Deepkas’ sales come from non-reimbursement claims made at 97 hospitals, including these tertiary general hospitals.
Currently, two tertiary general hospitals with 2,424 and 1,541 beds are finalizing their decision to introduce ‘Deepkas’. Once billing begins at the two hospitals, DeepCath sales are expected to gain momentum.
Shin Min-soo, an analyst at Kiwoom Securities, predicted, “Deepcars’ standalone sales in the fourth quarter of this year will reach 6.5 billion won, up 74.8% from the same period last year.” However, the analysis is that Vuno’s turnaround in operating profit should be postponed until next year.
Analyst Shin said, “Vuno’s expected performance for the fourth quarter is estimated to be KRW 7.8 billion in sales and -KRW 1.4 billion in operating profit. “The first quarter performance of next year is expected to be KRW 9.5 billion in sales and KRW 200 million in operating profit,” he said, predicting that it will be possible for the company to turn a profit in the first quarter of 2025.
Deepkas plans to complete its expansion not only domestically but also in the U.S. by the end of next year. Deepkas began clinical trials in the U.S. last March. The end date is expected to be the fourth quarter of this year. It is expected to apply for FDA approval in the first quarter of 2025 and obtain approval in the second quarter of the same year. US sales are expected to occur in the fourth quarter of 2025.
Kiwoom Securities lowered Vuno’s target stock price by -10% to 43,000 won and maintained its investment opinion at BUY.
Meanwhile, Vuno’s sales in the third quarter were 15.9% lower than the stock price estimate. It is explained that the sales of DeepCath, which is responsible for Vuno’s core sales, come from hospitals, and are therefore affected by the decline in general hospital bed utilization due to Chuseok and the medical strike. .
Copyright © Health Korea News Unauthorized reproduction and redistribution prohibited
Source: www.hkn24.com
