Seegene’s Q1 operating profit jumps 59% on non-respiratory test growth

Seegene said Friday its operating profit jumped 58.6 percent year-on-year in the first quarter of 2026, as continued growth in non-respiratory diagnostic products and improved cost efficiency helped the molecular diagnostics company strengthen profitability.

Seegene’s first-quarter operating profit jumped 58.6 percent on strong growth in non-respiratory syndromic diagnostic products and improved cost efficiency. (Credit: Seegene)

The company reported 129.1 billion won ($87.9 million) in consolidated revenue for the first quarter, up 11.3 percent from a year earlier. Operating profit rose to 23.6 billion won, up 58.6 percent, continuing the profitability improvement seen in the previous quarter.

Seegene explained that non-respiratory syndromic products led the company’s revenue growth during the quarter. Sales of the product group increased 32.6 percent from a year earlier, with gastrointestinal, human papillomavirus and sexually transmitted infection products each growing more than 30 percent.

The company attributed the growth mainly to major tender wins for its HPV products and expanded entry into the screening market. It also said rising demand for PCR-based diagnostics and the competitiveness of its product portfolio helped sustain growth in gastrointestinal and STI products.

Although respiratory products were affected by fluctuations in disease prevalence, Seegene said its overall sales growth remained stable.

“The increase in operating profit reflected sales expansion based on product competitiveness, along with improvements in its cost structure and expense efficiency,” the company said. “The cost-of-sales ratio for products and goods declined, while selling, general and administrative expenses and research and development spending were managed efficiently, supporting the overall profitability improvement.”

By region, Europe remained Seegene’s largest market, accounting for about 65 percent of total revenue. Asia accounted for 13.9 percent, followed by the Americas with 13.3 percent and Korea with 7.4 percent. The company plans to continue to expand its global business based on its stable revenue base in Europe.

Seegene is also strengthening its data-driven diagnostics and automation strategy. The company introduced STAgora, a real-time statistical platform that connects global PCR testing data and provides statistical information, and CURECA, an unmanned PCR automation system that automates the full PCR testing process, at global conferences including ESCMID Global 2026.

“Growth centered on non-respiratory products is continuing, allowing our revenue base to expand steadily,” Seegene Senior Vice President Kim Jeng-yong said. “We will continue to improve profitability through cost structure improvements and expense efficiency, while strengthening our mid- to long-term growth base through a diagnostics strategy that combines data and automation.”