Hancom's AI revenue share tops 30%, driving growth

[Financial News] Hancom's artificial intelligence (AI) revenue share topped 30%, doubling from the first half. With its AI business driving growth, revenue continued to rise.
Hancom said on the 12th that it posted revenue of 48.3 billion won and operating profit of 9.7 billion won on a standalone basis in the third quarter of this year. Revenue rose 9.6% from the same period a year earlier, and the operating margin was 20.1%. Consolidated revenue increased 9.5% to 92 billion won. Consolidated operating profit was 9.2 billion won, with an operating margin of 10.0%.
AI led growth this quarter. Third-quarter AI revenue was 14.8 billion won, up more than 80% from 8.2 billion won in the previous quarter. Cumulative AI revenue through the third quarter of this year reached 28.3 billion won, more than three times last year's full-year AI revenue of 8.9 billion won. Revenue from new businesses, including AI, rose 67.2% from the same period a year earlier to 30.9 billion won, accounting for 64.1% of total revenue.
The foundation for AI revenue growth is an existing customer base of more than 200,000. As existing customers continue to move to AI-integrated products, Hancom is also expanding its track record in AI transformation (AX) across the public and industrial sectors. In July, Hancom supplied Hancom Assistant to Hy-NuRI, an in-house AI platform at Korea Hydro & Nuclear Power. In August, it signed a memorandum of understanding with Namyang Dairy Products for a proof of concept (PoC) for an agentic OS. In September, it signed an MOU with Furiosa AI and Hancom InnoStream to jointly develop an on-premises AI transformation (AX) appliance based on a neural processing unit (NPU).
Profitability indicators also improved. Third-quarter cost of sales fell 4.4% from the same period a year earlier, while gross profit rose 14.7% to 37 billion won. The gross margin was 76.6%, up 3.4 percentage points from a year earlier.
Ahead of the U.S. launch of Nomadian and the commercialization of its agentic OS, Hancom increased its investment in research and development and personnel. Despite the higher investment, it maintained an operating margin in the 20% range. It is moving forward steadily with its global business, backed by profits from its core business.
Nomadian is an AI workforce platform for U.S. small businesses with fewer than 10 employees and solo entrepreneurs. It builds a team comprising Ara, an AI team leader, and 11 AI team members for different roles, then assigns tasks based on a single-line instruction. Hancom plans to conduct a closed beta test (CBT) in the U.S. in December before launching the product globally in March next year. 
Hancom CEO Kim Yeon-su emphasized, "The third quarter confirmed that AI has become Hancom's growth engine, with AI accounting for more than 30% of revenue. Even as we increase investment ahead of Nomadian's launch, we maintained a profit margin in the 20% range. We will focus the resources secured by restructuring our non-core affiliates on Nomadian."
Meanwhile, Hancom is also aiming for dual-track commercialization in Korea and Europe in 2027, centered on its sovereign agentic OS. In Europe, it is preparing to do business locally with Poland's 7Bulls and Algomine. Hancom plans to disclose its corporate value enhancement plan (Value-Up) during the fourth quarter.


[email protected] Yeon Ji-an Reporter