Toss Reports First Profit: 43% Revenue Surge

Seoul, South Korea—Viva Republica, the operator of the South Korean financial Superapp Toss, reported its first-ever annual net profit in 2024 alongside a 43% increase in consolidated revenue, the company said on Friday.

The fintech company posted consolidated revenue of 1,956 billion KRW (US$1.33 billion) for the full year 2024, with a consolidated operating profit of 91 billion KRW (US$62 million) and a net profit of 21 billion KRW (US$14.3 million).

On a standalone basis, Toss recorded revenue of 587 billion KRW (US$400 million), representing a 75% year-over-year increase. Operating profit was 12 billion KRW (US$8.2 million), and net profit was 48 billion KRW (US$32.7 million).

According to the company's cited data from WiseApp, Toss's Monthly Active Users (MAU) reached 25 million by the end of 2024, a 29% increase from the previous year.

"Toss has now structurally transitioned into a stable business generating recurring profit," said SG Lee, CEO of Toss, in a statement. Well-rounded growth across all business segments and an expanding user base have created a two-sided growth flywheel, laying the foundation for profitable growth."

The company attributed its growth to strong performance across its consumer services, including Toss Pay, Ads, Trading, Financial Marketplace, and E-commerce. 

It also increased business customers across advertisers, merchants, sellers, and financial institutions.

The firm said it would continue focusing on " growth and profitability through user-centric product innovation and platform expansion."