<Plasmapp booth participating in 'The UAE International Dental Conference and Arab Dental Exhibition (AEEDC)' held at Dubai World Trade Center>

On the 13th, bio-plasma deep-tech company Plasmapp (405000) participated in the Middle East's largest international medical and dental equipment exhibition held at the Dubai World Trade Center and succeeded in securing a sales channel in the Middle East and securing a first short-term order of $1 million.

Plasmapp started as a laboratory startup in the Department of Physics at KAIST in 2015, and has recorded sales of 3 billion won, 6.3 billion won, and 13.3 billion won since 2020, more than doubling every year.

It is growing rapidly in the global medical device market, showing sales growth. In particular, in 2023, profitability improved primarily with gross profit increasing significantly due to the launch of a new product lineup and diversification of sales channels. Sales are growing again in earnest from the second half of 2023, and with continued quarterly sales growth, it is expected that a return to profit will be possible in the second half of this year.

Plasmapp also won the $1 million and $3 million export tower awards in 2019 and 2021, respectively. Overseas sales, mainly in the U.S. and Europe, account for about 50% of total sales.

In particular, at this exhibition, we developed new sales channels in the medical and dental markets, focusing on the Middle East, and secured orders worth $1 million in first short-term orders in the first quarter.

Plasmapp expects to win the $7 million export tower award this year, and explained that its growth and profitability will significantly improve with another quantum jump in sales in 2024, focusing on overseas exports.

Youbong Lim, CEO of Plasmapp, said, “Before listing on KOSDAQ in 2022, we focused only on sales growth, but starting in the first half of 2023, we created a structure to secure profitability by diversifying our product lineup and sales channels. Through this, we will capture both the company’s growth and profitability.” In addition, “We have already completed the initial improvement of our internal constitution. We will focus on accelerating the turnaround time by strengthening global partnerships and streamlining internal operations,” he said.