EMRO Continues to Break Record-High First-Quarter Revenue
- Q1 2024 revenue reaches KRW 14.63 billion, up 2.4% year-on-year, marking the highest first-quarter revenue in company history
- Launch of SMARTsuite v10.0 and acceleration of global business provide multiple growth drivers for 2024
- Confident in strong prospects for global market success, paving the way for the “Emro 2.0” era
May 16, 2024 – Emro Inc. (KOSDAQ: 058970), Korea’s leading AI-based SRM software company, reported today that it has achieved record first-quarter revenue, continuing its steady growth trajectory.
According to Emro’s Q1 financial disclosure, consolidated revenue for Q1 2024 reached KRW 14.63 billion, a 2.4% increase year-on-year, marking the company’s highest first-quarter revenue to date. Despite continued constraints in corporate IT spending, robust customer demand supported the record performance.
Notably, cloud subscription fees rose 14.3% year-on-year to KRW 1.38 billion, reflecting growing demand for cloud-based SRM solutions that are quick and easy to implement amid heightened geopolitical uncertainty in the Middle East and global inflationary pressures. Additionally, recurring technical support fees from existing clients increased 10.8% year-on-year to KRW 2.75 billion, reinforcing Emro’s leading position in the SRM software market.
Q1 2024 operating profit declined compared to the same period last year due to increased investment in the global SRM SaaS business and R&D—strategic initiatives aimed at positioning Emro as a global software leader. The company plans to sustain growth through multiple momentum drivers, including:
- A robust sales pipeline
- Launch of the new SMARTsuite v10.0
- Expansion of AI-based software offerings
- Accelerated global market penetration
As of March 2024, Emro’s order backlog reached KRW 61.0 billion, a 31.2% increase year-on-year, the highest level in company history, with recent wins including large-scale projects from leading domestic corporations. Alongside ongoing expansion of its AI software lineup, Emro plans to leverage the launch of SMARTsuite v10.0 to continue strong growth in the domestic market.
Emro is also intensifying overseas sales and marketing activities. The company recently participated in U.S.-based supply chain events, including the 2024 Gartner Supply Chain Symposium/Xpo and ISM World 2024, together with Samsung SDS, showcasing its AI-powered SRM SaaS solution. These activities have attracted significant interest from local enterprise clients in the rapidly growing North American SRM software market, reinforcing expectations for global market penetration.
“Our preparations for overseas expansion since last year have reaffirmed the competitiveness of our SRM and AI software,” said an Emro spokesperson. “We are confident in our high potential for success in the global market and will use this momentum to usher in the next chapter of Emro as a leading global software company—the ‘Emro 2.0’ era.”
