Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> reported stellar performance for 1Q25, with record-high quarterly sales and operating profit. 1Q25 revenue grew 53% YoY to KRW77B, while operating profit increased 46% YoY to KRW39B.</li>
<li>Recently, Volnewmer got approval in Europe. Ultraformer MPT is expected to obtain European approval in July. Next-generation new product launch in the domestic market is expected in July.</li>
<li>Classys reaffirmed 2025 revenue guidance of KRW340–360B, up 39–48% YoY. Bain Capital’s recent stake sales in the company via a discounted block deal raises concern.</li>
</ul>



Classys (214150 KS) reported stellar performance for 1Q25, with record-high quarterly sales and operating profit. 1Q25 revenue grew 53% YoY to KRW77B, while operating profit increased 46% YoY to KRW39B.
Recently, Volnewmer got approval in Europe. Ultraformer MPT is expected to obtain European approval in July. Next-generation new product launch in the domestic market is expected in July.
Classys reaffirmed 2025 revenue guidance of KRW340–360B, up 39–48% YoY. Bain Capital’s recent stake sales in the company via a discounted block deal raises concern.


Classys (214150 KS): Solid Start to 2025; Global Expansion Continues; Stake Sale Overhang to Remain

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>After the market close on 16 May, Bain Capital sold about 6% stake in Classys (214150 KS) in a block deal sale.</li>
<li>Bain Capital sold 3.93 million shares of Classys at 57,915 won per share (this price is 10.9% discount from Classys’ closing price the previous day).</li>
<li><em><strong>Bain Capital’s decision to sell a 6% stake in Classys via a discounted block deal, rather than offloading its entire 60.2% controlling stake, indicates a share overhang on future sales. </strong></em></li>
</ul>


After the market close on 16 May, Bain Capital sold about 6% stake in Classys (214150 KS) in a block deal sale.
Bain Capital sold 3.93 million shares of Classys at 57,915 won per share (this price is 10.9% discount from Classys’ closing price the previous day).
Bain Capital’s decision to sell a 6% stake in Classys via a discounted block deal, rather than offloading its entire 60.2% controlling stake, indicates a share overhang on future sales. 


Classys: Block Deal Sale of 6% By Bain Capital Raises Overhang Concerns

<ul>
<li>
<a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> reported record-high revenue of KRW243B for 2024, 8% ahead of guidance. Operating profit grew 37% YoY to KRW 123B, and the operating profit margin improved to 50.4%.</li>
<li>Volnewmer remained the key growth driver. Volnewmer has exceeded 1,200 units in annual global sales mainly due to successful launches in major countries including Brazil, Thailand, and the U.S.</li>
<li>The company has guided for 2025 sales of KRW350B, up 44% YoY. 2025 operating profit margin is expected to improve from the operating profit margin of 48.1% reported in 4Q24.</li>
</ul>



Classys (214150 KS) reported record-high revenue of KRW243B for 2024, 8% ahead of guidance. Operating profit grew 37% YoY to KRW 123B, and the operating profit margin improved to 50.4%.
Volnewmer remained the key growth driver. Volnewmer has exceeded 1,200 units in annual global sales mainly due to successful launches in major countries including Brazil, Thailand, and the U.S.
The company has guided for 2025 sales of KRW350B, up 44% YoY. 2025 operating profit margin is expected to improve from the operating profit margin of 48.1% reported in 4Q24.


Classys (214150 KS): 2024 Sales Beat Guidance; New Record Sales Target for 2025

<ul>
<li>In 3Q24, <a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> reported revenue of KRW59B, up 23% YoY. Better-than-expected overseas demand of Volnewmer and record high consumables revenue in domestic market led the performance growth.</li>
<li>Profitability decline in 3Q24 was anticipated. Profitability is expected to improve in coming quarters. With the current momentum, Classys is well-positioned to beat 2024 sales guidance of KRW225B.</li>
<li>Strong marketing capability of the U.S. marketing partner and encouraging response in the launch meeting enhance conviction on the growth potential of Volnewmer in the U.S. market.</li>
</ul>


In 3Q24, Classys (214150 KS) reported revenue of KRW59B, up 23% YoY. Better-than-expected overseas demand of Volnewmer and record high consumables revenue in domestic market led the performance growth.
Profitability decline in 3Q24 was anticipated. Profitability is expected to improve in coming quarters. With the current momentum, Classys is well-positioned to beat 2024 sales guidance of KRW225B.
Strong marketing capability of the U.S. marketing partner and encouraging response in the launch meeting enhance conviction on the growth potential of Volnewmer in the U.S. market.


Classys (214150 KS): Record High Sales in 3Q24; Volnewmer Led Performance Growth; US Launch Begins

<ul>
<li>
<a href="https://www.smartkarma.com/entities/classys" target="_blank" data-smartkarma-citation="entities:29688:1" rel="noopener">Classys (214150 KS)</a> posted strong 2Q24 result, with quarterly revenue and operating profit reaching record highs, mainly driven by the growth in sales of aesthetic medical equipment.</li>
<li>Revenue from Classys medical devices increased 36% YoY and 44% QoQ to KRW30B (51% of revenue) as demand for core platforms has increased significantly in major global countries.</li>
<li>If 1H24 momentum continues (which seems to be quite possible), the company will handily beat 2024 sales guidance of KRW225B, driven by both devices and consumables.</li>
</ul>



Classys (214150 KS) posted strong 2Q24 result, with quarterly revenue and operating profit reaching record highs, mainly driven by the growth in sales of aesthetic medical equipment.
Revenue from Classys medical devices increased 36% YoY and 44% QoQ to KRW30B (51% of revenue) as demand for core platforms has increased significantly in major global countries.
If 1H24 momentum continues (which seems to be quite possible), the company will handily beat 2024 sales guidance of KRW225B, driven by both devices and consumables.


Classys (214150 KS): Solid 2Q24 Result Fuelled by Strong Demand for Aesthetic Medical Devices

South Korea

Classys Inc. operates as a medical equipment manufacturing company. The Company develops and sells non surgical painless fat reduction instruments, fat freezing fat reduction instruments, and other products. Classys markets its products worldwide.

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Classys (214150 KS)