IPO-bound Creatz says North America accounts for 80% of sales as it expands into golf practice facilities and other areas

[Financial News] Golf technology company Creatz, which is seeking a KOSDAQ listing, will expand its artificial intelligence (AI) software business and overseas operations, building on its sales base in North America.
According to the financial investment industry on the 16th, Creatz held an initial public offering (IPO) press briefing in Yeouido, Seoul, that day and outlined its key business operations and post-listing growth strategy. Founded in 2009, Creatz develops launch monitors that measure the movement of golf balls and clubs, as well as golf simulation software.
Since establishing a U.S. subsidiary in 2016, Creatz has built a sales network focused on the North American market. Last year, consolidated revenue reached 104.2 billion won, up 26.1% from the previous year, while operating profit totaled 25.1 billion won. Its operating margin was about 24%, and North America accounted for about 80% of total revenue.
The company’s flagship products use measurement technology based on high-speed cameras developed in-house. The technology measures spin and spin axis by recognizing the dimples on a golf ball’s surface, without adding any markings to the ball. Creatz has expanded its lineup of home-use launch monitors based on this technology and has recently enhanced its AI-powered swing analysis capabilities.
Going forward, Creatz plans to focus on generating recurring revenue through software subscriptions. It aims to increase service use among existing equipment buyers through its AI swing analysis service, “AI Trainer,” and golf simulation game, “GameDay,” among others. In North America, it will broaden its business into commercial markets such as golf practice facilities and academies, and plans to diversify its overseas sales regions by leveraging its local subsidiaries in Japan and the United Kingdom.
Creatz CEO Seok Jae-ho said, “With this KOSDAQ listing as a springboard, we will expand our AI-based personalized services and commercial market presence, and become an AI golf platform company that leads the digital transformation of the global golf industry.”
Creatz plans to offer a total of 1.4 million shares, with an indicative price range of 15,000 to 18,000 won per share. The offering is expected to raise 21 billion to 25.2 billion won. The bookbuilding for institutional investors ends that day, while the retail subscription will take place on the 20th and 21st. The company is aiming to list on KOSDAQ this month, with Samsung Securities Co., Ltd. serving as lead manager.
[email protected] Lim Sang-hyeok Reporter