Alchera's AI Solutions Surge 360%, Posts First Quarterly Profit

Alchera has achieved a remarkable financial turnaround, recording its first quarterly profit since its founding. This significant achievement is attributed to the explosive growth in its facial recognition AI solution business segment. Notably, in the second half of 2024, sales of facial recognition AI solutions soared by 360% compared to the same period last year, reaching 9.1 billion won, which fundamentally improved the company's financial structure. This rapid growth led to the landmark achievement of turning to a net profit on a semi-annual basis. This growth was crucially driven by the increasing demand for non-face-to-face identity verification and identity verification technology for overseas Koreans within the domestic financial sector. Additionally, the successful expansion of AI training data and SaaS-type eKYC (electronic Know Your Customer) solutions into diverse industries significantly contributed to the improved performance. This turnaround to profitability has largely alleviated the market's previous concerns about Alchera's corporate viability. In addition to improving profitability through increased sales, the company further solidified its financial stability by securing additional capital through a recently completed successful rights offering. This signifies that Alchera has established a strong foundation for business expansion aimed at sustainable growth. This year, Alchera plans to actively pursue innovative new businesses, such as electric vehicle fire detection AI solutions, while solidifying its unrivaled No. 1 market share in the financial market. Through this, the company aims to diversify its revenue sources and focus its company-wide capabilities toward achieving its goal of annual profitability. Hwang Young-gyu, CEO of Alchera, stated, "Thanks to the strenuous efforts of all employees last year, we were able to achieve the important goals of performance improvement and securing financial stability." He specifically expressed deep gratitude to the shareholders who believed in Alchera's potential and future value and stayed with them until the end. CEO Hwang emphasized that this year, they would continue this positive momentum and do their best to further improve performance, expressing a strong commitment to Alchera's continuous growth.