1. Protia’s Q2 Earnings: What Happened?

Protia’s Q2 2025 revenue reached KRW 3.8 billion, a 52% year-over-year increase, and operating profit surged by an impressive 67% to KRW 1 billion. This is attributed to the growth of overseas sales in allergy diagnostics and the performance of its new business (antibiotic susceptibility testing). Notably, the sharp rise in operating profit, exceeding the revenue growth rate, indicates a clear trend of improving profitability.

2. The Secret to Soaring Earnings: Core Business Analysis

Protia’s core business, allergy diagnostics, based on the world’s most comprehensive simultaneous allergy diagnostic technology (PLA technology), maintains a solid growth trajectory with over 45% market share in Korea. Especially, overseas sales demonstrated global competitiveness with a 55.3% year-over-year growth. New product launches are also expected to drive future earnings growth.

3. Key Investment Points

  • Strong Technological Competitiveness: Differentiated product portfolio based on PLA technology
  • Global Market Expansion: High growth in overseas markets
  • New Business Growth Potential: Antibiotic susceptibility testing, autoimmune disease diagnostics, etc.
  • Solid Financial Structure: Low debt ratio (7.6%) and stable cash flow

4. Considerations for Investment

  • Past Earnings Volatility: History of underperforming past forecasts
  • Uncertainty of New Businesses: Uncertain market entry and profitability timing
  • Intensifying Competition: Increasing competition in the in-vitro diagnostics market

5. Investment Action Plan

While Protia holds high growth potential, investors need to carefully consider the risk factors before making investment decisions. It is crucial to develop an investment strategy by closely monitoring future earnings trends, the performance of new businesses, and changes in the competitive landscape.