R&D Costs Unavoidably Rising in 2026, Revenue Growth Expected to Gain Momentum in 2027

ROKIT Healthcare, a customized organ regeneration platform company, announced in June the results of a 4-year long-term follow-up clinical study on cartilage regeneration conducted in Egypt, along with 3-year device follow-up results for global skin regeneration. The company also received approval for the world's first human clinical research plan for kidney regeneration, confirming the technological validation of its platform and the potential for indication expansion. Accordingly, for cartilage regeneration, the company plans to initiate investigator-initiated trials in the second half of the year in collaboration with Professor Letterman of Harvard Medical School, who also serves as President of the International Cartilage Regeneration Society. For kidney regeneration, the company plans to launch domestic clinical trials in earnest from July while simultaneously pursuing investigator-initiated trials in the United States.

Regarding diabetic foot (diabetic foot ulcer), which has been drawing market attention, non-reimbursed treatment is currently available domestically, and based on improved research performance data, the company plans to apply for insurance reimbursement in the second half of the year, with reimbursement coverage expected to take effect in 2027. Considering that full contract negotiations with Northwell Health in the United States — with whom a Mutual Confidentiality Agreement (MCA) was signed in February 2026 — are currently underway with a target of concluding in the second half of the year, the company's full-scale revenue growth is expected to materialize in 2027.

However, despite achieving a turnaround to profitability in 2025, operating income in Q1 2026 recorded a loss of KRW 2.35 billion due to increased R&D expenditures. Given the number of clinical studies currently underway, the upward trend in R&D costs is expected to continue throughout 2026, with meaningful improvement in profitability anticipated from 2027 onward, when revenue growth is projected to become more visible.