Seers Records KRW 60.9 Billion Revenue, KRW 26.8 Billion Operating Profit in H1, Surpassing Last Year’s Annual Performance

Seers recorded consolidated revenue of KRW 60.9 billion and operating profit of KRW 26.8 billion in the first half of this year, surpassing last year’s total annual performance.

According to Seers on August 13, its first-half results marked a 407% increase in revenue and a 30-fold (2,888%) surge in operating profit compared to the same period last year. Notably, after becoming the first domestic medical artificial intelligence (AI) company to achieve a half-year profit turnaround in the second quarter of last year, Seers maintained profitability for four consecutive quarters, demonstrating both the profitability and scalability of its platform-based business model.

For the second quarter alone, Seers posted revenue of KRW 28.4 billion and operating profit of KRW 13.0 billion. By focusing its sales capabilities on top-tier general hospitals, including the “Big 5,” some revenue from large hospitals—where contract lead times are typically longer—was deferred to the second half of the year. Additionally, overseas project schedules were partially adjusted due to geopolitical factors in the Middle East. However, thanks to the streamlining of platform operations and reinforced cost competitiveness, the operating margin climbed from 42.6% in the previous quarter to a record high of 45.6%.

The AI-based inpatient monitoring platform thynC™ was the main driver of the first-half results. thynC™ reported revenue of KRW 26.8 billion in the second quarter and accumulated revenue of KRW 58.0 billion in the first half. The platform continued to expand to leading domestic general hospitals—including Seoul National University Hospital, Asan Medical Center, and Samsung Medical Center—and has accumulated experience operating in 220 medical institutions nationwide, covering approximately 20,000 beds. In the second half, the company plans to ramp up business expansion to general hospitals and long-term care hospitals. As the installation of deferred contracts from the second quarter and new contracts will be concentrated from the third quarter, both installations and revenues are expected to grow further. The wearable AI electrocardiogram analysis solution mobiCARE™ achieved revenue of KRW 1.5 billion in the second quarter and cumulative first-half revenue of KRW 2.8 billion, reflecting a 29% year-on-year increase.

CEO Youngshin Lee said, “The first half of the year proved that Seers’ platform business model can generate both growth and profitability,” adding, “In the second half, we will expand our business to general hospitals and long-term care hospitals in Korea, and fully launch our businesses in the UAE and the United States. By doing so, we aim to demonstrate the growth potential of our domestically validated AI medical platform in the global market as well.”

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