Boditech Med

• Q2 2025 revenue of $30.74M (KRW 41.5B), up 14.5% YoY
• Operating profit of $6.81M (KRW 9.2B), up 13.9% QoQ; operating margin at 22.2%
• Double-digit growth in MENA and Latin America; notable rebound in Europe

Gangwon-do, Korea – August 8, 2025 – Boditech Med Inc. (CEO Eui-Yul Choi), a global point-of-care diagnostics company, today announced its preliminary consolidated financial results for the second quarter of 2025, reporting revenue of $30.74 million (KRW 41.5 billion) and operating profit of $6.81 million (KRW 9.2 billion). This represents a 14.5% year-on-year increase in revenue and a 0.7% year-on-year decrease in operating profit. Compared to the previous quarter, revenue grew by 6.2% and operating profit rose by 13.9%, with the operating margin improving to 22.2% from 20.7% in Q1.

Growth in Q2 was driven by strong performance across major global markets. The Middle East and North Africa (MENA) region posted a 29.3% increase in revenue, accounting for 25.5% of total sales and serving as a key growth engine. Latin America achieved rapid growth with a 38.6% increase, while Europe recorded a 5.9% increase, reflecting a clear recovery trend.

As of Q2 2025, revenue distribution by region was: MENA 25.5%, Europe 23.0%, Asia 18.6%, Latin America 14.3%, Africa 8.1%, and domestic (Korea) 7.3%, underscoring the company’s expanding global diversification.

By product category, non-communicable disease diagnostics showed notable growth. Cardiovascular products grew by 16.1%, diabetes diagnostics by 13.2%, and other disease categories by 49.5%, the highest growth rate. Hormone and infectious disease diagnostics remained steady, while cancer-related diagnostics maintained stable growth.

Boditech Med installed over 7,300 diagnostic instruments in the first half of 2025, equivalent to around 70% of the total installations in 2024 (10,552 units). In Q2 alone, 4,111 units were newly installed, including 2,623 units of its flagship AFIAS and ichroma™ series. While installation volumes surged during the pandemic and temporarily declined post-endemic, a robust recovery began in 2023, and 2025 is projected to mark a record-high in new installations.

CEO Eui-Yul Choi commented, “Our Q2 performance demonstrates the success of Boditech Med’s global market diversification and expanded product portfolio. The focus on high value-added products significantly contributed to improved profitability.” He added, “In the second half, we will intensify efforts to expand into new business areas such as clinical chemistry, hematology, and veterinary diagnostics, while strengthening quality competitiveness to penetrate developed markets.”

• Selected by WHO ERPD to support global dengue response efforts
• Only FIA-based diagnostic products included, highlighting technological differentiation
• Enables accurate identification of both primary and secondary infections through combined antigen and antibody testing

Boditech Med, a global point-of-care diagnostics company, announced on the 27th that two of its dengue diagnostic kits have been selected by the World Health Organization (WHO) for inclusion in the Expert Review Panel for Diagnostics (ERPD).

Recently, WHO released an updated list of medicines and diagnostics for neglected tropical diseases (NTDs). As part of this effort, WHO activated the ERPD to identify high-performing diagnostic products suitable for urgent deployment in the fight against dengue.

Boditech Med’s selected products include:

▪ ichroma™ Dengue NS1 Ag (antigen detection)

▪ ichroma™ Dengue IgG/IgM (antibody detection)

Both are fluorescence immunoassay (FIA)-based point-of-care tests that meet WHO’s performance and quality standards. By combining antigen and antibody detection, they enable effective differentiation between primary and secondary dengue infections, which is clinically critical for early intervention and treatment decisions.

The ERPD serves as a fast-track assessment mechanism to evaluate high-performing in vitro diagnostic (IVD) products that have not yet undergone WHO Prequalification (PQ). Evaluation is conducted by an independent panel of experts, and selection is used as a key reference for procurement decisions by international agencies and national governments.

Out of submissions from around the world, only seven products were selected, with Boditech Med’s kits being the only FIA-based diagnostics on the list. The recommendation is valid for one year and is expected to facilitate international procurement and field deployment in dengue-endemic regions.

According to WHO, more than 14 million dengue cases were officially reported in 2024—over twice the number recorded in 2023. Latin America, particularly Brazil, accounts for over 70% of global cases, underscoring the urgent need for accurate and rapid diagnostics.

Eui-yeol Choi, CEO of Boditech Med, stated:

“Being selected by WHO’s ERPD validates our advanced technology and product reliability on a global level. As the only FIA-based product included, we are proud to offer high-quality diagnostic solutions that will contribute to global infectious disease control and early response efforts.”

• Q1 2025 consolidated revenue reaches $28.7 million (₩39.1 billion), operating profit $5.9 million (₩8.1 billion)
• Sales in MENA region grow over 40%; Africa and Latin America surge by more than 100%
• Marks the first year of strategic expansion into biochemistry, hematology, and veterinary diagnostic

Boditech Med, a global leader in point-of-care diagnostics, announced on May 8 its preliminary financial results for the first quarter of 2025, reporting consolidated revenue of $28.7 million (₩39.1 billion) and operating profit of $5.9 million (₩8.1 billion). This represents a year-on-year increase of 18% in revenue and 37% in operating profit, with an operating margin of 20.7%, reflecting both strong growth and solid profitability.

Broad-based growth across global markets contributed to the company’s performance. The Middle East and North Africa (MENA) region accounted for 25% of total revenue, growing by more than 40% compared to the same period last year. Markets in Africa and Latin America, which had previously shown weaker performance, rebounded sharply with sales more than doubling year-on-year.

Product portfolio diversification also drove performance. Sales of diagnostic products for vitamin D and anemia (Hemochroma) surged, resulting in over 140% growth in the “Other Conditions” category. Diagnostic kits for diabetes and hormonal disorders also posted growth exceeding 30%, while kits related to cancer and rheumatoid arthritis recorded notable gains.

The company’s diagnostic equipment segment continued to perform well, with over 3,200 new systems installed during Q1. More than 2,000 units of its flagship ichroma™ and AFIAS platforms, both equipped with multi-analyte functionality, were deployed. If this pace continues, annual installations could exceed 10,000 units, surpassing the pandemic-era average of approximately 9,000 units per year (2020–2021).

Eui-yeol Choi, CEO of Boditech Med, stated:

“We have prioritized quality enhancement across both diagnostic devices and cartridges. With our ongoing expansion into developed markets since 2023, quality competitiveness is no longer optional but essential. This aligns with the growing global demand for point-of-care testing in the post-COVID era, further strengthening our global presence.”

He added:

“2025 marks a pivotal year of transformation for Boditech Med, as we expand beyond immunodiagnostics into biochemistry, hematology, and veterinary diagnostics. We are accelerating our efforts to diversify our future business portfolio and reinforce our global strategy for sustainable growth.”