XL8, a company specialising in AI for simultaneous interpretation and translation, said on Jan. 26 that annual sales of its real-time AI interpretation and translation solution EventCAT exceeded $1 million, helped by growing demand for global events.

Sales rose 1,250 percent from a year earlier, and the company has shown steady growth since the product launched in June 2023, the company said.

EventCAT is an AI simultaneous interpretation and translation solution specialised for business meetings, lectures and large-scale conferences, the company said. Based on its in-house AI engine, it trains on expert-curated data accumulated for more than 20 years to predict and analyse expressions suited to age and gender and deliver a consistent translation tone and manner.

A range of companies and institutions, including SK Hynix, LG, the Ministry of SMEs and Startups, the National IT Industry Promotion Agency (NIPA) and Yonsei University, have used EventCAT for events.

EventCAT has been used by more than 1,000 global companies and institutions so far and supports more than 50 languages. On that basis, XL8 said it secured profitability by passing the break-even point in the third quarter of 2025 and established two revenue pillars alongside MediaCAT, an AI content localisation platform launched in 2022.

XL8 plans to add support functions for online meetings and conferences and expand the languages available for solution settings.

XL8 Chief Executive Young-hoon Jung (정영훈) said, "EventCAT achieved $1 million in annual sales, proving its competitiveness in the global real-time interpretation and translation market." He added, "Based on two pillars, MediaCAT and EventCAT, we will accelerate global market share expansion and technology advancement in 2026 to lead the AI interpretation and translation market."