TRUEN (417790) Q1 2025 earnings summary

Executive summary

• Specializes in digital video surveillance systems and IoT solutions, with a focus on AI-driven products and cloud-based services.

• Listed on KOSDAQ since May 2023; maintains strong credit ratings (AAO as of April 2024).

• R&D-intensive, with 43.4% of workforce in research roles and significant investment in AI and IoT innovation.

Financial highlights

• Q1 2025 revenue: KRW 9.89 billion, up from KRW 9.24 billion in Q1 2024.

• Q1 2025 operating income: KRW 2.46 billion; net income: KRW 2.45 billion, both up year-over-year.

• Gross margin for Q1 2025: 51.0%, improved from 46.6% in Q1 2024.

• Cash and cash equivalents at Q1 2025: KRW 40.1 billion.

• Basic and diluted EPS for Q1 2025: KRW 234, up from KRW 217 in Q1 2024.

Outlook and guidance

• Focus on expanding AI-based surveillance and IoT product lines, with ongoing R&D for high-performance edge AI cameras and smart home solutions.

• Plans to strengthen domestic and overseas market presence, leveraging proprietary technology and compliance with global security standards.