Toss Reports Record H1 Revenue, Turns Profitable in Q2

Seoul, South Korea - South Korean fintech company Viva Republica, operator of mobile financial service Toss, reported record first-half revenue and turned profitable in the second quarter, the company said on Wednesday.

• H1 consolidated revenue reached KRW 914.1 billion (US$674 million), up 39.7% year-on-year
• Q2 operating profit at KRW 2.8 billion (US$2 million), compared to a loss a year earlier
• H1 operating loss narrowed to KRW 9.4 billion (US$7 million), down 91.5% from the previous year.
• Net loss for H1 reduced by 81.8% to KRW 20.1 billion (US$15 million)

The company attributed its growth to strong performance in consumer services, including loan brokerage, easy payments, advertising, tax services, and solid results from subsidiaries like Toss Securities.

Toss Securities reported H1 revenue of KRW 175.1 billion (US$129 million) and operating profit of KRW 30.6 billion (US$23 million), surpassing its annual target in just six months.

"The balanced growth across our services has been the driving force behind our record performance," said Toss CEO Seunggun Lee.

Toss reported 19.1 million monthly active users in 2023, with annual revenue surpassing KRW 1.37 trillion (US$1.01 billion), a 20% year-on-year increase.

*US$1 = KRW 1,355.84