VUNO, a medical artificial intelligence company, reported consolidated sales of 3.6 billion won ($2.7 million) in the third quarter, jumping 330 percent year-on-year from 840 million won ($636 thousand) a year earlier. The figure is a 20 percent increase from 3 billion won ($2.3 million) in the previous quarter. Accumulated sales in the first nine months of 2023 were 8.4 billion won, surpassing last year's annual sales of 8.3 billion won.

VUNO's operating loss for the third quarter was 1.9 billion won, improving from 4.5 billion won operating loss a year earlier.

VUNO explained that its flagship product, VUNO Med-DeepCARS, an AI-based cardiac arrest risk management system, continued to be supplied at a rapid pace to the medical field this quarter, while its medical imaging product line continued to improve with stable sales growth.

The company has raised its target for the number of hospitals to supply VUNO Med-DeepCARS by the end of the year from 40 to 60. In addition, the number of contracts with some of the largest hospitals in Korea are in the process of being finalized, raising expectations for increased sales in the fourth quarter.

Also, the medical imaging product line recorded a sales growth of more than 20 percent year-on-year. Especially, international sales of imaging products expanded 200 percent compared to the third quarter of last year.

The company is refining its U.S. sales strategy for VUNO Med-DeepBrain, an AI-based medical device for quantitative analysis of the brain, that recently received U.S. Food and Drug Administration (FDA) clearance.

In addition, VUNO will continue to strengthen sales of its chronic disease management system, Hativ, which launched in late January as a B2C product. Currently, Hativ continues to grow through stable online store sales and diversified sales channels.

"If the current trend of increasing sales and improving operating losses continues, we expect to achieve break-even on an operating profit basis in the fourth quarter of 2024," said a VUNO official. "We expect to increase the amount and proportion of overseas sales from 2024 onwards, especially as VUNO Med-DeepBrain is about to enter the U.S. market."