YC (232140) Q4 2024 earnings summary

Executive summary

• Manufactures and sells semiconductor memory test equipment, focusing on DRAM and NAND wafer testers, with a strong position in the domestic and global market.

• 2024 saw a 17.2% YoY decrease in consolidated revenue to KRW 211.2 billion, but operating income rose 23.7% to KRW 10.6 billion.

• Net income attributable to owners was KRW 11.0 billion, nearly flat YoY, supported by increased financial income and cost controls.

• The company completed the acquisition of ID Ventures, expanding into venture investment management.

Financial highlights

• Revenue: KRW 211.2 billion (down 17.2% YoY); Operating income: KRW 10.6 billion (up 23.7% YoY); Net income: KRW 12.9 billion (flat YoY).

• Gross margin improved to 27.7% from 19.4% YoY.

• Cash and cash equivalents at year-end: KRW 18.8 billion.

• Total assets: KRW 576.9 billion (up 20% YoY); Total liabilities: KRW 158.6 billion (up 39% YoY).

• R&D expenses: KRW 23.9 billion (11.3% of sales).

Outlook and guidance

• Expects continued growth in demand for high-capacity memory (HBM, DDR5, etc.) and AI-related semiconductors.

• Anticipates increased capital investment by major memory manufacturers in 2025, especially for advanced memory testers.

• Plans to expand sales channels and develop next-generation testers for global markets.