CLASSYS (A214150) Q3 2024 earnings summary

Executive summary

• Achieved 5-year revenue CAGR of 31% with 2023 revenue at ₩180.2 billion, up 27% year-over-year.

• Consumables sales grew at a 5-year CAGR of 39%, reaching ₩81 billion in 2023, with a 46% YoY increase and 45% of total sales.

• EBITDA margin reached 52% in 2023, with EBITDA of ₩93.6 billion, up 29% YoY.

• Overseas sales accounted for 65% of total revenue, with exports to over 70 countries and 29 regulatory approvals.

• Completed merger with Ilooda in October 2024, issuing 1,506,140 new shares, bringing total shares to 65,505,659.

Segment performance

• Shurink/Ultraformer HIFU devices surpassed 15,000 cumulative global sales, with over 4 million annual procedures.

• Domestic HIFU market share at 55%, with over 5,300 units sold and strong presence in 3,000+ clinics.

• Strong growth in Brazil and Thailand, with Shurink/Ultraformer sales exceeding 3,000 and 1,000 units, respectively.

• Volnewmer (monopolar RF device) surpassed 1,000 global installations, with expansion into the US, Brazil, and Thailand.

Outlook and guidance

• Targeting $1B+ revenue and 50%+ operating margin by 2030, aiming for global No.1 medical aesthetic platform status.

• Accelerating global regulatory approvals, with US and China clinical trials for Ultraformer and Volnewmer underway.

• Expanding product portfolio with new launches in HIFU, RF, MNRF, and laser devices.

• Strategic focus on B2B/B2C marketing, R&D, and production efficiency to sustain growth.