AI service specialist ESTsoft (047560, CEO Jung Sang-won) announced on the 12th that it recorded 24.3 billion won in sales and 1.2 billion won in operating profit for the first quarter of 2022 based on the K-IFRS consolidated financial statements.

According to the company's announcement, compared to the same period last year, sales increased by 13.6% to 24.3 billion won, and operating profit was recorded at 1.2 billion won, a decrease of 2 billion won.

The company explained that sales continued to grow due to the growth of software license sales and the advertising partnerships with large commerce platforms of user-based software.

In addition, the company is expecting continuous sales growth through the visible contract signings with major companies in the entertainment, education, and finance sectors related to the virtual human business, which has been actively pushed since last year, the expansion of B2B new business and partner opticians of subsidiary ROUNZ which is engaged in virtual fitting eyewear commerce, and the launch of new services related to Techfin.

However, operating profit decreased by 2 billion won compared to the same period last year, showing somewhat moderated growth. This was explained as a combined result of the decreased effect from ESTgames's release of Cabal Mobile in the Southeast Asian market, the rise in labor costs that spread throughout the IT industry, and increased investment costs associated with the full-scale realization of the metaverse business.

The quarterly sales growth of ESTsoft has continued without a single dip since 2021. Although the growth rate of operating profit has slowed down, the company has consistently maintained a profit trend since turning to profits in the second quarter of 2020.

Meanwhile, detailed information related to ESTsoft's preliminary earnings for the first quarter of 2022 can be found on the Financial Supervisory Service's Electronic Disclosure System (http://dart.fss.or.kr).