Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> reported record-high revenue of KRW243B for 2024, 8% ahead of guidance. Operating profit grew 37% YoY to KRW 123B, and the operating profit margin improved to 50.4%.</li>
<li>Volnewmer remained the key growth driver. Volnewmer has exceeded 1,200 units in annual global sales mainly due to successful launches in major countries including Brazil, Thailand, and the U.S.</li>
<li>The company has guided for 2025 sales of KRW350B, up 44% YoY. 2025 operating profit margin is expected to improve from the operating profit margin of 48.1% reported in 4Q24.</li>
</ul>



Classys (214150 KS) reported record-high revenue of KRW243B for 2024, 8% ahead of guidance. Operating profit grew 37% YoY to KRW 123B, and the operating profit margin improved to 50.4%.
Volnewmer remained the key growth driver. Volnewmer has exceeded 1,200 units in annual global sales mainly due to successful launches in major countries including Brazil, Thailand, and the U.S.
The company has guided for 2025 sales of KRW350B, up 44% YoY. 2025 operating profit margin is expected to improve from the operating profit margin of 48.1% reported in 4Q24.


Classys (214150 KS): 2024 Sales Beat Guidance; New Record Sales Target for 2025

<ul>
<li>In 3Q24, <a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> reported revenue of KRW59B, up 23% YoY. Better-than-expected overseas demand of Volnewmer and record high consumables revenue in domestic market led the performance growth.</li>
<li>Profitability decline in 3Q24 was anticipated. Profitability is expected to improve in coming quarters. With the current momentum, Classys is well-positioned to beat 2024 sales guidance of KRW225B.</li>
<li>Strong marketing capability of the U.S. marketing partner and encouraging response in the launch meeting enhance conviction on the growth potential of Volnewmer in the U.S. market.</li>
</ul>


In 3Q24, Classys (214150 KS) reported revenue of KRW59B, up 23% YoY. Better-than-expected overseas demand of Volnewmer and record high consumables revenue in domestic market led the performance growth.
Profitability decline in 3Q24 was anticipated. Profitability is expected to improve in coming quarters. With the current momentum, Classys is well-positioned to beat 2024 sales guidance of KRW225B.
Strong marketing capability of the U.S. marketing partner and encouraging response in the launch meeting enhance conviction on the growth potential of Volnewmer in the U.S. market.


Classys (214150 KS): Record High Sales in 3Q24; Volnewmer Led Performance Growth; US Launch Begins

<ul>
<li>
<a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> posted strong 2Q24 result, with quarterly revenue and operating profit reaching record highs, mainly driven by the growth in sales of aesthetic medical equipment.</li>
<li>Revenue from Classys medical devices increased 36% YoY and 44% QoQ to KRW30B (51% of revenue) as demand for core platforms has increased significantly in major global countries.</li>
<li>If 1H24 momentum continues (which seems to be quite possible), the company will handily beat 2024 sales guidance of KRW225B, driven by both devices and consumables.</li>
</ul>



Classys (214150 KS) posted strong 2Q24 result, with quarterly revenue and operating profit reaching record highs, mainly driven by the growth in sales of aesthetic medical equipment.
Revenue from Classys medical devices increased 36% YoY and 44% QoQ to KRW30B (51% of revenue) as demand for core platforms has increased significantly in major global countries.
If 1H24 momentum continues (which seems to be quite possible), the company will handily beat 2024 sales guidance of KRW225B, driven by both devices and consumables.


Classys (214150 KS): Solid 2Q24 Result Fuelled by Strong Demand for Aesthetic Medical Devices

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>On 25 June, Classys (214150 KS) announced a merger with Ilooda (164060 KS). The merger ratio is set at 0.1405237 to 1 for Classys and Ilooda.</li>
<li>This merger aims to combine Classys’ expertise in high-intensity focused ultrasound (HIFU) with Ilooda’s in micro-needle radio frequency (RF) and laser technologies.</li>
<li>We have a positive view of this merger between Classys and Ilooda. This merger is likely to <em><strong>reduce the overall competition</strong></em> in the aesthetics devices market in Korea.</li>
</ul>


On 25 June, Classys (214150 KS) announced a merger with Ilooda (164060 KS). The merger ratio is set at 0.1405237 to 1 for Classys and Ilooda.
This merger aims to combine Classys’ expertise in high-intensity focused ultrasound (HIFU) with Ilooda’s in micro-needle radio frequency (RF) and laser technologies.
We have a positive view of this merger between Classys and Ilooda. This merger is likely to reduce the overall competition in the aesthetics devices market in Korea.


Merger Between Classys and Ilooda Likely to Reduce Local Competition

<ul>
<li>
<a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> started 2024 on a strong note with highest ever quarterly revenue and operating profit in 1Q24. Faster-than-expected consumables orders from overseas markets drove the overall performance.</li>
<li>The proportion of consumable sales rose to 53% (1Q23: 48% and 4Q23: 43%), increasing by 42% and 32% QoQ. Increasing contribution from high-margin consumables sales improved the profitability substantially.</li>
<li>Favorable industry tailwind, global expansion, and new launches remain main growth drivers. Classys still expects 2024 revenue of KRW225B, up 25% YoY. In April, Classys obtained FDA approval for Volnewmer.</li>
</ul>



Classys (214150 KS) started 2024 on a strong note with highest ever quarterly revenue and operating profit in 1Q24. Faster-than-expected consumables orders from overseas markets drove the overall performance.
The proportion of consumable sales rose to 53% (1Q23: 48% and 4Q23: 43%), increasing by 42% and 32% QoQ. Increasing contribution from high-margin consumables sales improved the profitability substantially.
Favorable industry tailwind, global expansion, and new launches remain main growth drivers. Classys still expects 2024 revenue of KRW225B, up 25% YoY. In April, Classys obtained FDA approval for Volnewmer.


Classys (214150 KS): Beautiful Journey Continues; Record High Revenue and Operating Profit in 1Q24

South Korea

Classys Inc. operates as a medical equipment manufacturing company. The Company develops and sells non surgical painless fat reduction instruments, fat freezing fat reduction instruments, and other products. Classys markets its products worldwide.

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Classys (214150 KS)