[Edaily Reporter An Yu-ri ] While the domestic stock market has fallen sharply over the past six months, the stock prices of security firms AHNLAB,INC. and GENIANS, INC. have risen by more than 50%.
Based on regular session closing prices on the 10th, the KOSPI index fell 33.02% and the KOSDAQ index dropped 44.7% over the past six months. During the same period, the stock price of AHNLAB,INC.(053800) rose 69.06%, GENIANS, INC.(263860)rose 58.23%, and RaonSecure Co., Ltd.(042510)rose 7.46%.
All three stocks posted sharp gains last October. This coincided with growing expectations that financial firms would increase their security investments following a series of hacking incidents in the financial sector. Although all three stocks gave back some of their gains in November, they managed to rebound slightly on this day.
On that day, AHNLAB,INC.’s stock price closed at 108,200 won during regular trading, up 1.88% from the previous day. GENIANS, INC. rose 4.17% over the same period to 25,000 won. RaonSecure Co., Ltd.’s stock price rose 2.92% from the previous day to 14,120 won.
The growing demand for security solutions was also reflected in corporate earnings. AHNLAB,INC. and GENIANS, INC. saw increases in revenue and operating profit as demand rose for products and services that manage devices connected to networks and detect and respond to anomalies.
AHNLAB,INC.’s preliminary consolidated revenue for the third quarter of this year was 79.5 billion won, with operating profit at 10.9 billion won. These figures represent year-over-year increases of 23.1% and 38.7%, respectively. Cumulative revenue for the first three quarters reached 209.8 billion won, up 14.0%, while operating profit rose 47.3% to 18.2 billion won.
AHNLAB,INC.’s third-quarter revenue from its network security business posted triple-digit growth compared to the same period last year. Demand also expanded for Endpoint Detection and Response (EDR)—which detects and responds to anomalous behavior on PCs and servers—and Managed Detection and Response (MDR) services, where external experts handle threat detection and response.
GENIANS, INC. reported consolidated revenue of 24.92 billion won and operating profit of 4.31 billion won for the first half of this year. These figures represent year-over-year increases of 19.9% and 294.3%, respectively. GENIANS, INC.’s performance improved thanks to growth in its core NAC and EDR businesses, as well as the expansion of subscription-based services such as cloud NAC and MDR. The number of cloud NAC customers rose to 299, a 26% increase from a year ago, while the number of MDR customers more than doubled.
Global security companies also showed growth in both product sales and subscription services. Network security firm Fortinet’s revenue for the third quarter of this year reached $2.08 billion (approximately 2.8 trillion won), a 20% increase from the same period last year. Product revenue rose 37% to $765 million. CrowdStrike, a cloud-based security firm, reported revenue of $1.47 billion for the quarter ending in late July, a 26% increase. Of this, subscription revenue rose 27% to $1.4 billion.
Security stocks also outperformed the market average on the U.S. stock market. Based on closing prices from May 8 to November 9 (local time), the “CIBR” exchange-traded fund (ETF), which tracks the Nasdaq Cybersecurity Index, rose 25.7%. During the same period, the Standard & Poor’s (S&P) 500 Index rose by only 2.0%. Among individual stocks, CrowdStrike rose 73.2% and Fortinet rose 7.4%, based on prices adjusted for their July stock splits.
Based on regular session closing prices on the 10th, the KOSPI index fell 33.02% and the KOSDAQ index dropped 44.7% over the past six months. During the same period, the stock price of AHNLAB,INC.(053800) rose 69.06%, GENIANS, INC.(263860)rose 58.23%, and RaonSecure Co., Ltd.(042510)rose 7.46%.
All three stocks posted sharp gains last October. This coincided with growing expectations that financial firms would increase their security investments following a series of hacking incidents in the financial sector. Although all three stocks gave back some of their gains in November, they managed to rebound slightly on this day.
On that day, AHNLAB,INC.’s stock price closed at 108,200 won during regular trading, up 1.88% from the previous day. GENIANS, INC. rose 4.17% over the same period to 25,000 won. RaonSecure Co., Ltd.’s stock price rose 2.92% from the previous day to 14,120 won.
The growing demand for security solutions was also reflected in corporate earnings. AHNLAB,INC. and GENIANS, INC. saw increases in revenue and operating profit as demand rose for products and services that manage devices connected to networks and detect and respond to anomalies.
AHNLAB,INC.’s preliminary consolidated revenue for the third quarter of this year was 79.5 billion won, with operating profit at 10.9 billion won. These figures represent year-over-year increases of 23.1% and 38.7%, respectively. Cumulative revenue for the first three quarters reached 209.8 billion won, up 14.0%, while operating profit rose 47.3% to 18.2 billion won.
AHNLAB,INC.’s third-quarter revenue from its network security business posted triple-digit growth compared to the same period last year. Demand also expanded for Endpoint Detection and Response (EDR)—which detects and responds to anomalous behavior on PCs and servers—and Managed Detection and Response (MDR) services, where external experts handle threat detection and response.
GENIANS, INC. reported consolidated revenue of 24.92 billion won and operating profit of 4.31 billion won for the first half of this year. These figures represent year-over-year increases of 19.9% and 294.3%, respectively. GENIANS, INC.’s performance improved thanks to growth in its core NAC and EDR businesses, as well as the expansion of subscription-based services such as cloud NAC and MDR. The number of cloud NAC customers rose to 299, a 26% increase from a year ago, while the number of MDR customers more than doubled.
Global security companies also showed growth in both product sales and subscription services. Network security firm Fortinet’s revenue for the third quarter of this year reached $2.08 billion (approximately 2.8 trillion won), a 20% increase from the same period last year. Product revenue rose 37% to $765 million. CrowdStrike, a cloud-based security firm, reported revenue of $1.47 billion for the quarter ending in late July, a 26% increase. Of this, subscription revenue rose 27% to $1.4 billion.
Security stocks also outperformed the market average on the U.S. stock market. Based on closing prices from May 8 to November 9 (local time), the “CIBR” exchange-traded fund (ETF), which tracks the Nasdaq Cybersecurity Index, rose 25.7%. During the same period, the Standard & Poor’s (S&P) 500 Index rose by only 2.0%. Among individual stocks, CrowdStrike rose 73.2% and Fortinet rose 7.4%, based on prices adjusted for their July stock splits.
