Conversational AI Powerhouse 라피치 (Rapich) Overcomes Operating Losses to Achieve 'Turnaround to Surplus'

Amid the ongoing earnings announcements of companies in 2025, this corner is examining companies that have completed their earnings reports one by one. The company we will look at this time is '라피치 (Rapich)', which was established in 2005 and has been developing a conversational AI business based on natural language meaning determination technology. We take a look at the performance trends and major movements of 라피치 (Rapich), which recently recorded a turnaround to surplus by overcoming its operating losses in 2024.

Dramatic 'Turnaround to Surplus', Recording 580 Million Won in Operating Profit in Just One Year

라피치 (Rapich) started with a revenue of 10.5 billion won and an operating profit of 700 million won in 2022, and achieved external growth in 2023 with a revenue of 17 billion won and an operating profit of 40 million won, but its profitability plummeted. Eventually, in 2024, it turned into a deficit, recording a revenue of 15.8 billion won and an operating loss of 1.5 billion won.

However, 라피치 (Rapich) achieved a revenue of 16 billion won and an operating profit of 580 million won in 2025, successfully making a dramatic turnaround to surplus in just one year. This is deeply meaningful in that it is not a result of simple cost reduction, but rather the fruit of launching new services combined with bold infrastructure expansion.

Potential Shining Through Deficits... Attracting 6 Billion Won in Investment with an Enterprise Value in the 30 Billion Won Range

라피치 (Rapich) has consistently been recognized for its technological prowess since listing on the KONEX market in December 2021. In particular, even in 2024, when it experienced sluggish performance, it successfully attracted a massive investment of 6 billion won, reaffirming the market's solid trust.

This investment was made from the 'KONEX Scale-up Fund', which is consigned and managed by Capstone Partners with major institutions such as the Korea Exchange, Korea Securities Exchange, Korea Securities Depository, Korea Financial Investment Association, and Koscom participating as main investors, as well as from Timefolio Asset Management. Through this, the estimated enterprise value of 라피치 (Rapich) was evaluated to be in the 30 billion won range, and the secured investment funds served as a strong catalyst for advanced R&D and the launch of new services.

2025: Completing Structural Improvement Through Aggressive Business Expansion and M&A

Behind the turnaround to surplus lies the aggressive business expansion that continued without rest throughout the year 2025.

Bold M&A (October): It acquired stakes in '서경엔씨에스 (Seokyung NCS)', a company specializing in network infrastructure and data centers, for 11.6 billion won. Through this, by combining the core AI software technology of 라피치 (Rapich) with the hardware infrastructure capabilities of 서경엔씨에스 (Seokyung NCS), it was reborn as an 'integrated AI infrastructure company' and laid a strong foundation for expanding profitability.

Entry into the Public and Welfare Sectors (July): Through the Public Procurement Service's pilot purchasing project, it formally introduced 'ConvAI', a customized AI counseling service for the visually impaired, to the Siloam Center for the Blind. This is evaluated as a case of barrier-free innovation utilizing technology.

Participation in Government Support Projects: Following its selection in May 2025 for the 'Innovation Premier 1000', a promising enterprise support project hosted by the Financial Services Commission, it was selected for the Ministry of SMEs and Startups' 'SCALE-UP TIPS' in October, securing 1.14 billion won in R&D funds and embarking on the development of an intelligent metahuman counseling system.

New Leadership and Taking Direct Aim at Entering KOSDAQ

In January 2026, 라피치 (Rapich) appointed Managing Director Kim Kyung-hoe as the new CEO, completing a leadership reorganization for a leap forward. It is successfully expanding its domain into the 'Subscription-type AI Contact Center (AICC)' market, which can flexibly respond to customer demands, as well as its existing customized on-premise services for large enterprises.

Conversational AI powerhouse 라피치 (Rapich), having completed its structural improvement starting from a valuable turnaround to surplus in 2025. The attention of the IT and financial industries is focused on their next moves as they plan in earnest to transfer their listing to the KOSDAQ market in line with future market conditions.