L&C BIO (290650) Q3 2024 earnings summary

Executive summary

• Specializes in human tissue grafts, tissue-based medical devices, cosmeceuticals, and pharmaceuticals, with a focus on R&D and global expansion.

• Main revenue from acellular dermal matrix (ADM) products for reconstructive surgery, with expanding indications and international sales.

• Operates five subsidiaries in related fields, including CRO, AI medical devices, and marketing platforms.

Financial highlights

• 2024 Q3 consolidated revenue: ₩53.0B, down from ₩68.9B in 2023 Q3.

• Operating income: ₩3.2B (2024 Q3), down from ₩7.7B (2023 Q3).

• Net loss: -₩2.8B (2024 Q3), compared to net profit of ₩48.5B (2023 Q3, which included a large one-off gain).

• Standalone revenue: ₩41.4B (2024 Q3), down from ₩56.1B (2023 Q3).

• Standalone net loss: -₩0.85B (2024 Q3), compared to net profit of ₩48.9B (2023 Q3).

• Cash and equivalents at Q3 end: ₩21.0B, up from ₩14.9B at 2023 year-end.

Outlook and guidance

• Focus on expanding indications for ADM and launching next-generation tissue-based medical devices.

• Targeting growth in regenerative medicine, medical device, and cosmeceutical markets, both domestically and internationally.

• Regulatory and reimbursement environment expected to become more favorable for innovative products.