According to the Financial Supervisory Service’s electronic disclosure system on the 13th, HANS BIOMED CORPORATION announced that its cumulative revenue for the first three quarters of this year reached 101.1 billion won, with operating profit at 10.6 billion won. Compared to the same period last year, revenue increased by 35 billion won (53%), and operating profit rose by 9.5 billion won (900%). Net income for the same period was 7.4 billion won, marking a turnaround from a net loss of 4.7 billion won in the same period last year.
Quarterly revenue also expanded for three consecutive quarters: 30.3 billion won in the first quarter, 34.5 billion won in the second quarter, and 36.3 billion won in the third quarter. The cumulative operating profit margin rose by 8.9 percentage points (p) to 10.5% from 1.6% in the same period last year.
This improvement in performance was driven by strong growth in key product lines such as CellREDM, BellaCellHD, and BellaGen Plus. As a result, cumulative sales in the skin graft materials segment reached 48.5 billion won, an increase of 29.6 billion won (157%) compared to the same period last year, and its share of total sales expanded from 29% to 48%. The bone graft segment also grew by 25% to 24.8 billion won.
Among the key products, CellR-D recorded cumulative sales of 15.4 billion won for the first three quarters of this year. Third-quarter sales reached 7.2 billion won, up 2.8 billion won (62%) from the previous quarter, and its share of total sales expanded from 13% to 20%. The collaboration with Hugel, Inc., which began last month, and the expansion into overseas markets such as Japan and Singapore are cited as additional growth drivers.
BellaCell HD reported cumulative third-quarter sales of 14 billion won, an increase of 5.8 billion won (70%) compared to the same period last year. Growth accelerated as indications expanded to include the spine and shoulder, while demand for breast reconstruction remained stable.
BellaGen Plus recorded cumulative third-quarter sales of 9.5 billion won, up 6.4 billion won (208%) from the same period last year. The range of indications diversified to include the spine, shoulders, ankles, and tennis elbow, and demand for procedures increased due to the RTU (Ready to Use) type collagen filler products, which have already undergone the hydration process and can be used immediately. This was further bolstered by the effect of absorbing sales from the existing powder-type BellaGen.
By market, domestic sales reached 70.7 billion won, up 73% year-over-year, while exports rose 21% to 30.4 billion won. Exports of skin graft materials more than doubled quarter-over-quarter to 900 million won in the third quarter, confirming the potential for overseas sales growth.
Since its domestic launch last April, the “Bounce” breast implant has been expanding its supply, primarily through plastic surgery clinics. The company is increasing the number of hospitals adopting the product by highlighting its competitive advantages—such as preclinical safety verification and a multi-axis sizing system—and plans to expand its network of plastic surgery clinic suppliers to more than 100 locations within the year through aggressive marketing. Additionally, the company is preparing to enter the Chinese market and is currently undergoing procedures to obtain local regulatory approvals.
Third-quarter operating profit stood at 4.1 billion won, a decrease of 300 million won (8%) from the previous quarter. This was due to increased domestic and international marketing expenses. However, the year-to-date growth rate of selling, general, and administrative (SG&A) expenses was 34%, which was lower than the revenue growth rate (53%), and the SG&A ratio to revenue decreased from 60.4% in the same period last year to 52.9%.
A HANS BIOMED CORPORATION official stated, “Thanks to steady growth across our core human tissue graft products, both revenue and profitability improved, and we returned to profitability,” adding, “Third-quarter investments were aimed at establishing new products and driving further growth; we will continue to expand the indications for our core products and pursue overseas expansion.”
