Seoul, South Korea - Yanolja, a South Korean travel tech startup, has released its Q3 2023 financial results.
The company's consolidated revenue rose 34% YoY to KRW 238.7 billion (approximately US$182.7 million). These impressive figures demonstrate Yanolja's continued growth in the competitive travel industry.
The operating profit was KRW 12 billion, with adjusted EBITDA at KRW 33.7 billion.
Why It Matters:
The results show noteworthy expansion in different business segments, indicating Yanolja's increased sway in the technology and travel industries.
The Key Points
- Yanolja Platform saw a 5% growth in revenue, amounting to KRW 108.3 billion, owing to the enhancement of international travel and the introduction of new airline services. The segment clocked in an operating income of KRW 8.3 billion with an adjusted EBITDA of KRW 17.3 billion.
- Cloud Business recorded a 112% surge in revenue to KRW 64.9 billion, marking the first profitable quarter for this sector. Operating income was KRW 9.2 billion, while adjusted EBITDA amounted to KRW 13.2 billion.
- InterparkTriple showed profits after it was acquired by Yanolja and rebranded. The company garnered its first monthly profit since the acquisition in August. Total revenues surged by 52%, reaching KRW 74.6 billion, while operating loss dropped to KRW 1.1 billion. According to the earnings release, the adjusted EBITDA for the company was KRW 2.6 billion.
What They Say:
A Yanolja representative reported balanced growth across all businesses and notable achievements in global operations during the third quarter.
They emphasized the synergy between Yanolja, Yanolja Cloud, and Interparktriple, and they anticipate continued growth and profitability in the next quarter.
The company's significant growth across multiple business sectors and impressive revenue and transaction figures highlight its ability to evolve and thrive in a constantly changing market.
Yanolja's strategic decisions prioritize sustainable, long-term growth and market leadership, which has the potential to impact its future market position and investment opportunities.