L&C BIO (290650) Q3 2025 earnings summary

Executive summary

• The company specializes in manufacturing and selling human tissue grafts, tissue-based medical devices, and cosmeceuticals, with a strong focus on R&D and global expansion.

• Major revenue comes from human tissue grafts and related medical devices, with expanding indications and international certifications.

• The company completed several strategic investments, acquisitions, and facility expansions, including full acquisition of its Chinese subsidiary.

Financial highlights

• Consolidated revenue for the first nine months of 2025 was KRW 60.8 billion, down from KRW 72.1 billion in 2024.

• Operating income for the same period was KRW 2.5 billion, nearly flat year-over-year.

• Net loss attributable to owners was KRW -65.6 billion, compared to a net profit of KRW 141.1 billion in 2024, mainly due to significant non-operating losses.

• Basic EPS for the period was KRW -2,782, down from KRW 6,218 in 2024.

• Cash and cash equivalents increased to KRW 31.1 billion as of September 30, 2025.

Outlook and guidance

• The company is targeting continued growth in tissue-based medical devices and cosmeceuticals, leveraging new product launches and expanded global certifications.

• Regulatory changes and market expansion in Asia are expected to drive demand for advanced regenerative medical products.