Wontech, a South Korean medical aesthetics device manufacturer, posted a 7.6% year-on-year increase in consolidated revenue for the first quarter of 2025, reaching KRW 40.2 billion (approx. USD 30 million), according to its financial disclosure filed with the Financial Supervisory Service on March 27. The growth was primarily fueled by expanded global sales of its radiofrequency (RF)-based lifting device, Oligio, and a corresponding rise in recurring consumable tip sales. In a written response to Medipana News, a Wontech representative stated: "The expansion of the global sales base for the Oligio series has led to an increase in consumable sales that recur after device sales. This reflects the combined effect of expanded overseas device sales, improved product mix, and higher consumable revenue." Wontech's revenue has grown 92.4% over four years, from KRW 81.5 billion in 2022 to KRW 156.8 billion in 2024. The company's core product lineup includes Oligio, Lavian, Picocare, and Pastel, with Oligio being an RF-based lifting device that generates recurring revenue from disposable tips used during procedures. In 2024, RF and HIFU (high-intensity focused ultrasound) devices accounted for 38.2% of total revenue, while consumable tips contributed 24.1%. The company noted that stable demand for Oligio series products and the expanding installed base of devices supported the consumable segment.
Gross profit margin improved to 71.1% in Q1 2025, up from 64.2% a year earlier, as cost of goods sold fell 13.1% to KRW 11.6 billion. The company attributed this to a higher share of high-margin products and consumables, as well as improved production and supply chain efficiency. Overseas sales reached KRW 31.2 billion in Q1 2025, up 20.3% year-on-year, following a 59.8% increase in 2024 to KRW 111.3 billion. Southeast Asia emerged as a key growth region, accounting for 29.4% of total revenue in 2024. Thailand, in particular, has become a strategic market and overseas hub, supported by expanded local regulatory approvals and sales infrastructure. The Wontech representative added: "In Southeast Asia, including Thailand, we plan to continue growth through strengthened local subsidiary execution, expanded product portfolios, and education- and clinical-based marketing."
However, operating profit for Q1 2025 fell 23.0% to KRW 11.2 billion, as selling, general, and administrative expenses surged 83.8% to KRW 17.4 billion. The company attributed this to increased advertising, overseas marketing, and global organizational costs, including academic marketing activities such as the Wave (Wontech Advanced Visionary Exchange) program. The representative noted: "These are largely investments for mid- to long-term global growth. We expect to maintain a certain level of marketing investment this year to expand overseas markets and strengthen brand awareness."
Source: Read the original report | Published: March 27, 2025