▶ Q3 Revenue of KRW 7.77 billion... 6.8% quarter-on-quarter ↑ 4.3% year-on-year ↑ Net loss of KRW 1.99 billion
▶ KRW 5.35 billion in cumulative solution sales in Q3... Achieving annual performance level in 2023 and accelerating the expansion of new businesses
▶ Visualize AI R&D performance such as X2BEE AI launch and groobee Generative AI search
PLATEER (CEO Sanghoon Lee), a digital platform solution company, announced on the 15th that it recorded sales of 7.77 billion won, operating loss of 2.21 billion won, and net loss of 1.99 billion won in the third quarter of 2024.
PLATEER laid the foundation for the transition to growth in the third quarter, with sales increasing 6.8% quarter-on-quarter and 4.3% year-on-year. The solution business, which is being fostered as a new growth engine, continued to grow solidly. The solution business is expected to accumulate sales of KRW 5.35 billion in the third quarter, achieving the annual performance level in 2023, and contributing significantly to future sales growth and profitability growth.
By business, PLATEER's AI-personalized Matech solution groobe achieved its largest quarterly sales, growing 19.5% year-on-year. In addition to ABLCNC's official online mall Able Shop, which develops cosmetics such as Korea Seven and Missha/Affu, which operate 7-Eleven, it has also recorded continuous growth by securing foreign fashion brands and large retailers as customers. Recently, it plans to launch an LLM-based Generative AI search function to further accelerate customer expansion through AI technology advancement by contributing to a rise in customer sales conversion rates and customer unit prices.
X2BEE, an e-commerce solution for the development of D2C shopping malls by mid-sized brand/manufacturer corporate customers, is also expanding its business in earnest by introducing X2BEE AI functions that help reduce operating costs that commerce customers can feel. In addition, the large e-commerce SI business has been selected as a preferred bidder for the new business of large retail customers and is negotiating with the aim of launching the business in the fourth quarter.
The digital transformation business achieved its highest sales in the third quarter of all time, growing 27% year-on-year and 14.5% quarter-on-quarter. Despite the off-season including the summer vacation season, the third quarter continued to grow solidly, raising expectations for future performance. In particular, the newly won Coscom ITSM project is a large-scale contract that exceeds 10% of the business division's 23-year annual sales and is considered a meaningful achievement. In addition, it is expanding its growth further by continuously expanding its solutions to major customers such as Samsung Electronics, SK Hynix, Lotte Innovate, Krafton, and Kakao VX. This growth is expected to continue in the future as companies are actively investing in digital transformation infrastructure to strengthen their competitiveness.
"It is a meaningful achievement that cumulative solution business sales in the third quarter reached the annual performance level in 2023," said Sanghoon Lee PLATEER CEO. "We plan to further expand growth by accelerating AI advancement and new inflows of large customers." He added, "We are also selected as preferred negotiators in the large e-commerce SI business and are expected to improve our performance after the fourth quarter."
