Dx&Vx, a Korean molecular diagnostics company, said it achieved record-high sales and successfully turned to an operating profit in 2022.

According to the company's public filing on Friday, the company recorded sales of 32.2 billion won ($26.2 million) last year, up 331 percent compared to 2021.

The company also reported an operating profit of 2.5 billion won, turning to a surplus from a loss reported in 2021.

While the company reported a net loss, the company explained that this was an accounting evaluation cost that did not involve cash outflows.

“The new management team successfully improved the management structure by strengthening both financial and non-financial capabilities, leading to record-high performance,” the company said. “The new bio-healthcare business, which expanded the genomic contract research organization (CRO) business using its core competency in molecular diagnosis to Korea and overseas markets and providing microbiome-based healthcare solutions through diagnosis, led to sales growth.”

The company stressed that with the acquisition of Korea Bio Pharm, which has GMP production facilities, as a wholly-owned subsidiary last year, it had completed an integrated business structure supporting external growth.

Also, the company has been leading each business area by recruiting professional talents in various fields last year, and expects that its performance will continue to improve this year as well.

“We plan to steadily secure various pipelines to enhance future value,” Dx&Vx CEO Park Sang-tae said.