NearsLab Reports 17.4 Billion Won in First-Half Sales, Achieves First-Ever Quarterly Profit

Defense Sector Drives Growth

XAiDEN’s Export to Middle East Marks Major Milestone

NearsLab announced on July 15 that it recorded sales of approximately 17.4 billion won in the first half of this year, achieving its first-ever quarterly profit since its establishment. This represents more than a sevenfold increase compared to the same period last year. Based on its preliminary financial results, the company reported its first-ever operating profit in the second quarter.

NearsLab explained that these results were due to the expansion of its business structure into the defense industry. Sales from defense-related business accounted for 86 percent of total revenue in the first half. Existing businesses—including safety inspections for wind turbines—also grew by 38 percent year-on-year, supporting the company's sales foundation. NearsLab achieved 65 percent of its annual sales target in the first half alone, simultaneously advancing its business portfolio and expanding its overall scale.

Nearslab employees are taking a commemorative photo. Nearslab

The company's most notable achievement came at the end of June with the export of its self-developed drone swarm "suicide drone," XAiDEN, to the Middle East. This single contract was secured approximately one year after entering the defense sector and covered the entire process from order to mass production, acceptance testing, and final delivery within just one year. As a result, about 14.9 billion won in sales was reflected in the first half's results. Building on this milestone, NearsLab plans to actively pursue additional orders and business expansion opportunities in the Middle East and other global markets.

The outlook for the full year is also promising. In its recently submitted securities registration statement, NearsLab set its annual sales target at 27 billion won. Having already achieved 65 percent of this target in the first half, the company plans to maintain its growth trajectory in the second half by expanding overseas defense sales and driving stable growth in its enterprise business. Choi Jaehyeok, CEO of NearsLab, commented, "The first half of this year was a period in which our efforts to enter the international defense market, highlighted by the export of XAiDEN to the Middle East, produced concrete business results." He added, "Through roadshows and IR activities, we will clearly communicate our technological strengths and growth potential to ensure a successful listing on the KOSDAQ."

This content was produced with the assistance of AI translation services.