TRUEN (417790) Q3 2024 earnings summary

Executive summary

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

• Achieved stable growth in domestic and overseas markets, especially in public sector and smart home segments.

• Maintains a robust R&D pipeline, with 43.2% of workforce in research and multiple AI and IoT innovations.

Financial highlights

• 2024 Q3 revenue: ₩37.78B, down from ₩47.17B in 2023 but similar to ₩38.83B in 2022.

• Operating income for 2024 Q3: ₩11.41B, nearly flat year-over-year.

• Net income for 2024 Q3: ₩10.56B, slightly down from ₩10.96B in 2023, but up from ₩7.63B in 2022.

• Basic EPS for 2024 Q3: ₩1,001, compared to ₩1,092 in 2023 and ₩906 in 2022.

• Cash and equivalents at Q3-end: ₩34.90B, up from ₩25.81B at 2023 year-end.

Outlook and guidance

• AI-driven video surveillance and IoT markets expected to grow steadily, with domestic and global expansion plans.

• Continued investment in R&D and new product development, especially in AI and smart home devices.

• Plans to enhance overseas presence through local offices and partnerships.