Artificial Intelligence (AI) service company ESTsoft (047560, CEO Jung Sang-won) announced through a preliminary disclosure on the 10th that it achieved a cumulative sales figure of 65.9 billion won based on the K-IFRS consolidated financial statements for the third quarter of 2022.

The third quarter sales were 22.4 billion won, up 12% compared to the same period of the previous year, and on a cumulative basis, it slightly increased by 0.1%. Operating profit recorded an operating loss of 4.3 billion won in the third quarter, and the cumulative operating loss was counted as 6.7 billion won.

Despite the offseason for the IT industry, ESTsoft has continued to maintain a steady scale of sales through the continuous growth of AI-based new businesses, such as AI human, eyewear virtual fitting commerce, as well as the launch of new game services at home and abroad.

Especially, the AI human business is expanding rapidly by proving its usability through consecutive recontracts in the domestic market. Activities aimed at global expansion are also active. Last October, they participated in the largest IT exhibition in the Middle East, presenting an interactive AI human kiosk and receiving great attention.

However, the decrease in profitability was mainly due to a significant increase in sales costs as activities for the global expansion of AI human and game businesses began in earnest, and the ongoing slowdown of the company's portal business had a large impact.

An ESTsoft official said, "Major businesses of the group, including AI new business, have begun to actively globalize," and explained, "This is to focus on both external growth and internal consolidation for next year's business."

Meanwhile, detailed information related to the provisional results of ESTsoft for the third quarter of 2023 can be confirmed on the Financial Supervisory Service's electronic disclosure system (http://dart.fss.or.kr).