Medicube Maker APR Doubles Third-Quarter Revenue, Tops 2025 Sales in Nine Months

Korean beauty company APR, the parent company of Medicube, has surpassed its full-year 2025 revenue and operating profit in the first nine months of 2026.

APR posted cumulative revenue of 2.13 trillion won and operating profit of 503.5 billion won through September. For all of 2025, it reported 1.53 trillion won in revenue and 361.4 billion won in operating profit. The figures come from preliminary consolidated results that APR disclosed in a regulatory filing on Oct. 30.

Third-quarter revenue rose 100.3 percent from a year earlier to 773.1 billion won, and operating profit climbed 68.9 percent to 160.6 billion won. Revenue edged up 0.7 percent from 767.5 billion won in the second quarter and set a quarterly record for the company.

Operating profit fell 15.7 percent from 190.6 billion won in the second quarter. The operating margin was 20.8 percent.

Cosmetics and beauty sales jumped 150.6 percent to 682.3 billion won. Beauty device sales fell 17.9 percent to 84.7 billion won, which the company attributed to the absence of major global sales events during the quarter.

Medicube alone generated more than 2 trillion won in sales through the third quarter.

Overseas revenue grew 135 percent to 722.9 billion won, and its share of total sales rose to 94 percent. North America accounted for 46 percent of revenue, followed by Europe at 23 percent, Asia at 15 percent and South Korea at 6 percent. North America and Europe together made up 69 percent of sales, up from 47 percent a year earlier.

In North America, APR continues to sell through Amazon and TikTok Shop, and this year it added Target, Walmart and Costco. The company plans to enter about 3,000 CVS Pharmacy stores in the U.S. by the end of the year.

APR said the strong Korean won hurt profitability in the quarter. The company booked losses on receivables held in foreign currencies, and its overseas sales were worth less once converted into won. Together these effects cut operating profit by about 27.8 billion won, according to the company.

APR adopted the IFRS 18 international accounting standard early, starting this fiscal year, and restated its 2025 results on the same basis. Under the previous standard, third-quarter operating profit would have been 176.7 billion won, for a margin of 22.9 percent.

Ahead of Black Friday and the Christmas shopping season, APR plans to add online and in-store sales channels in North America, Europe and other key markets. It also plans to release products and promotions tailored to local demand.

"Even in the third quarter, when major global channels held relatively few large events and the strong won continued to weigh on results, we set a new quarterly sales record," an APR official said in a statement.