EMRO Posts KRW 23.2 Billion in Q3 Revenue, Up 41% YoY, Surpassing KRW 20 Billion in Quarterly Revenue for the First Time

- Q3 2024 revenue reaches KRW 23.2 billion, operating profit KRW 4.39 billion, up 41% and 238.4% year-on-year, achieving the highest quarterly results in company history

- Cumulative Q3 revenue up 24.6% YoY to KRW 57.02 billion, on track to set a new annual revenue record

- Strong growth across all business segments driven by SMARTsuite v10.0 and emroCloud, leveraging rising cloud adoption and expanding direct-procurement solutions market

November 7, 2024 – Emro Inc. (KOSDAQ: 058970), Korea’s leading AI-based SRM software company, announced today that it has surpassed KRW 20 billion in quarterly revenue for the first time, demonstrating strong growth despite global economic uncertainty.

According to its provisional financial results, Emro reported Q3 2024 consolidated revenue of KRW 23.2 billion, operating profit of KRW 4.39 billion, and net income of KRW 6.15 billion. Revenue and operating profit increased 41% and 238.4% year-on-year, respectively, marking the highest quarterly performance in company history. Operating margin improved significantly to 18.9% from 7.9% in the same period last year.

Cumulative revenue for the first nine months reached KRW 57.02 billion, with operating profit of KRW 6.17 billion, representing year-on-year growth of 24.6% and 73.2%, respectively, bringing Emro closer to achieving a sixth consecutive year of record-breaking revenue.

The strong Q3 performance was driven by the expanded adoption of the upgraded supply chain management software SMARTsuite v10.0 and the cloud-based SRM service emroCloud, resulting in steady revenue growth across all business segments. Additional project orders from major clients secured in Q2 also contributed to sustained revenue expansion.

In Q3, software license revenue reached KRW 2.45 billion, cloud subscription fees KRW 1.48 billion, up 34.4% and 34.5% year-on-year, respectively. Recurring technical support fees from existing clients grew 42.7% YoY to KRW 3.37 billion. Total technology-based revenue—including software licenses, cloud subscription, and support fees—was KRW 7.3 billion, up 38.1% year-on-year.

Looking ahead to Q4, Emro continues to execute integrated procurement system deployments and overseas subsidiary expansion projects across multiple industries. Further adoption of AI solutions and system enhancements by existing clients is expected to support ongoing growth. Rising demand for cloud-based procurement is also driving adoption of emroCloud, ensuring continued momentum.

Emro’s global SRM SaaS solution Caidentia is making steady progress in overseas markets. The company recently signed its first North American contract with a local electronics manufacturer through Samsung SDS and is actively expanding its sales pipeline across diverse industries including manufacturing, automotive, and furniture, leveraging both online and offline marketing initiatives.

“Companies are increasingly seeking direct-procurement solutions to manage target material costs and improve supply chain resilience in the face of prolonged global economic uncertainty,” said an Emro spokesperson. “Through continuous R&D, Emro is enhancing its direct-procurement solutions, enabling domestic and global enterprise clients to optimize procurement, reduce costs, and gain a competitive edge in the market.”