Rayence Reports Q1 2023 Financial Results
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Sales of 37.5bn KRW, Operating Profit of 5.6 bn KRW, and 15% Operating Profit Margin
Rayence, a company specializing in digital X-ray imaging solutions, announced its financial results for the first quarter of 2023.
The revenue and operating profits for the first quarter of 2023 were 37.5 billion KRW and 5.6 billion KRW respectively. Despite the continuous increase in raw material prices and logistics costs since last year, operating profit decreased by 4 billion KRW, resulting in an operating profit margin of 15%.
The sales of industrial detectors used in non-destructive testing, including X-ray inspections of electric vehicle batteries, increased by 11% compared to the same period last year, and the sales of vet X-ray imaging solutions increased by 19%.
Rayence aims to continue its growth, starting with the upcoming launch of a new medical detector featuring the revolutionary ‘SPAD-GS’ technology this year.
Appendix 1. SPAD-GS Technology
The ‘SPAD-GS (Global Shutter)’ technology is the next-generation 3D detector technology that provides optimal image quality even in low-dose/high-speed driven environments. The ‘SPAD’ device amplifies photons (particles of light) to recognize very small levels of photons as if many photons have entered. By applying ‘SPAD’ digital pixels to detectors, X-ray images can be acquired even in extreme low-dose environments, and the detection speed is significantly increased.
