SD BIOSENSOR reported on the 14th that its consolidated operating loss in the first quarter of this year was 14.6 billion won, an increase of 27.5% compared to the same period last year. During the same period, the net loss was 18.8 billion won, while the revenue increased by 5.1% year-on-year to 185.3 billion won.
The company cited the expansion of operating loss due to the depreciation expense of intangible assets arising from the consolidation accounting process of U.S. Meridian Bioscience. In response, SD BIOSENSOR noted that this is an accounting expense with no cash outflow, stating that on a separate basis, it recorded an operating profit of 500 million won and a quarterly net profit of 4.7 billion won, thus achieving profitability.
Regarding sales growth, it was analyzed as a result of strong sales of blood glucose diagnostic products. By region, sales in the Americas and Africa increased compared to the same period last year, and by disease category, in addition to blood glucose diagnostic products, the company saw strength in sexually transmitted disease diagnostic products including simultaneous diagnostic kits for human immunodeficiency virus (HIV) and syphilis, respiratory illness products including simultaneous diagnostic kits for COVID-19 and influenza, and malaria diagnostic kits.
SD BIOSENSOR obtained European in vitro diagnostic medical device certification (CE-IVDR) for five types of personal blood glucose meters last month and is preparing to secure additional CE-IVDR for three types of sexually transmitted infections and one type of antibiotic resistance cartridge for its on-site molecular diagnostic platform "Standard M10" within this year.
A company official said, "We are focusing on continuous research and development and obtaining global approvals, while planning to launch a new platform targeting both domestic and international markets in the second half of this year," adding, "The new platform will apply a new diagnostic principle that our company has not previously possessed, which will drive sales growth through entry into new markets and further enhance our position as a total platform corporation in the diagnostic field."