Fasoo AI said on Thursday it posted second-quarter revenue of 13.13 billion won and operating profit of 1.01 billion won.

Revenue rose 22.7 percent from a year earlier. Operating profit swung to a profit from a 940,000,000 won loss in the second quarter of last year. Net profit also returned to the black at 1.05 billion won.

Fasoo AI said performance improved on the back of expanding its AI business, including building AI transformation (AX) platforms, and rising data protection demand as cyber threats become more advanced. It also said its application security unit Sparrow grew as demand increased for supply chain security, including software bill of materials (SBOM).

First-half revenue was 22.13 billion won, up 15.7 percent from a year earlier. The operating loss came to 1.01 billion won, narrowing from 3.65 billion won in the first half of last year.

Fasoo AI forecast that full-year revenue will post a double-digit growth rate this year, considering the increase in order backlog and the business characteristic of revenue being concentrated in the second half.

Fasoo AI said it set a target through a corporate value enhancement plan last year to achieve average annual revenue growth of 20 percent, an operating profit margin of 25 percent and a shareholder return rate of 30 percent by 2030.