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[Media Releases] Plasmapp reports strong Q1 2024 results, improving both revenue and operating loss
Writer : plasmapp(business@plasmapp.com) Date : 2024-05-03 Hits : 149

▶ Plasmapp (405000), a bio plasma deep-tech company, today released its first quarter report.


Plasmapp (405000), a leader in bio plasma medical device solutions, today announced its first quarter results.


Revenue increased 139% year-over-year to KRW 4.1 billion, while operating loss decreased 148% year-over-year to KRW 2.8 billion. (Based on separate financial statements)


Plasmapp's growth was driven by an increase in sales of all items, including its flagship plasma sterilizer (brand: STERLINK),


The company recently signed a supply agreement with Osstem Implants and expects to continue its sales growth in the second quarter. These sales results are in line with the company's business growth strategy, which it has been focusing on since the third quarter of last year.


Last year, Plasmapp advanced its accounting management system and operational system, established a mid- to long-term growth strategy, and recently completed organizational stabilization work, with the company's organization slimming down since January this year. Sales productivity per employee has more than doubled from 80 million won last year to over 200 million won per employee this year, and the company expects profitability to improve rapidly as sales growth and operating cost reduction go hand in hand.


The company expects this earnings announcement to provide a solid foundation for sustainable management and long-term growth, while also providing a positive outlook on the substantial growth momentum in the market. Plasmap emphasized that the first quarter results mark an important turning point that could lead to even greater achievements in the future.


“Through continuous R&D and global clinical research, we have created new innovative plasma solutions, gained recognition in the global medical device market, and our sales volume is gradually increasing,” said Youbong Lim, CEO of Plasmapp. “We are building an efficient company management system, and our operating loss is improving rapidly, and we are confident that we will achieve a turnaround in the second half of the year and prepare for a greater leap forward next year.”


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