VUNO’s Q2 operating loss narrows amid revenue increase

[Courtesy of VUNO]

South Korean medical AI company VUNO announced on Wednesday that its consolidated operating loss for the second quarter was 3.1 billion won ($2.27 million), down 46 percent compared to a year earlier. The company also reported its revenue surged 113 percent to 6.4 billion won over the same period.

VUNO attributed its revenue growth primarily to the expansion of its flagship AI-based cardiac arrest prediction device, VUNO Med-DeepCARS, which saw an increase in the number of billing hospitals to 95, contributing about 5.5 billion won in sales during the second quarter.

The company also highlighted its efforts to establish a sales network for its AI-based brain quantification device, VUNO Med DeepBrain, which was recently launched in the United States.

VUNO also aims to obtain FDA approval for VUNO Med-DeepCARS and its chest X-ray analysis solution, VUNO Med-Chest X-ray, by the end of this year.

The company said it is increasingly likely to achieve quarterly breakeven in the second half of this year, driven by six consecutive quarters of revenue increase with the solid growth of VUNO Med-DeepCARS.