Yanolja Sets Record Q3 Earnings: Cloud Business Drives 47% Profit Jump

Philip Lee -

Seoul, South Korea—Yanolja reported record quarterly earnings, driven by strong performance in its cloud business segment. 

Revenue climbed 14%, and operating profit surged 47% year-on-year.

Financial Highlights (Q3 2023):

  • Revenue: KRW 264.3 billion (US$187.9 million)
  • Operating Profit: KRW 17.8 billion (US$12.7 million)
  • EBITDA: KRW 34.4 billion (US$24.5 million)

Cloud Business Performance:

  • Cloud segment revenue: KRW 91.2 billion (US$64.8 million), up 49% YoY
  • Operating profit: KRW 27.4 billion (US$19.5 million), up 178% YoY
  • Adjusted EBITDA margin reached a record 33.1%
  • Global transaction volume across 200+ countries: KRW 9.9 trillion (US$7.0 billion), up 232% YoY

Platform Business:

  • Revenue: KRW 110.8 billion (US$78.8 million), up 2% YoY
  • Operating profit: KRW 8.6 billion (US$6.1 million), up 7% YoY
  • Monthly Active Users (MAU): 4.41 million in July, up from 3.41 million YoY

"Our record performance was driven by strong growth in our global cloud business and stable platform operations," said a Yanolja representative, noting the company's robust financial position with KRW 1.34 trillion (US$953.1 million) in equity capital.

Interpark Triple, the company's travel booking subsidiary, reported:

  • Revenue: KRW 72.8 billion (US$51.8 million)
  • Operating loss: KRW 8.9 billion (US$6.3 million), attributed to IT infrastructure investments and service upgrades.

The company maintained stability despite industry challenges, including the Tmep crisis, supported by solid consumer preference for established platforms and successful initiatives like "Cancel Free" and "Yanolja Live."