Toss Achieves Record Revenues and First Annual Profit in 2024

Toss's Record-Breaking Year: A Deep Dive into 2024 Financials

In 2024, Toss, operated by Viva Republica, made remarkable strides in the financial technology sector, achieving consolidated revenue of ₩1,956 billion—an increase of 43% compared to the previous year. This accomplishment was not only a financial victory but also marked the company's first-ever full-year net profit of ₩21 billion, a significant milestone in its operational history.

This outstanding growth can be attributed to a 29% rise in Monthly Active Users (MAU), bringing the total to 25 million. The Superapp's allure lies in its seamless integration of various consumer services, including Toss Pay, advertising platforms, trading options, financial marketplace features, and e-commerce solutions. Toss's strategic focus on these consumer services has cultivated a user-friendly platform that engages users and drives loyalty.

Despite the challenges posed by a competitive landscape, Toss has successfully capitalized on its increasing user base and engagement levels. This approach not only enhances customer satisfaction but also bolsters the company's revenue streams. CEO SG Lee emphasized the transformative efforts toward monetizing the platform: “Our achievements this year are a result of the priority shift towards monetization of our platform business.”

Expanding Business Segments

The financial services sector has witnessed an influx of new customers, thanks to Toss's diverse product offerings which create synergies across its services. As a result, the company has seen impressive growth in its advertising revenue, leading to an operating profit increase of ₩91 billion for the year. Moreover, with standalone revenue reaching ₩587 billion, a 75% growth year-over-year, the positive trajectory is evident.

The shift towards profitability signals a crucial transition for Toss, indicating a matured platform capable of generating recurring profits, essential for long-term sustainability. The company’s unique platform-based business model allows for scalability, providing it with the leverage to enhance its service offerings and user experiences continuously. This sustained growth is anticipated to create a positive feedback loop, where an expanding user base drives revenue, enabling further service development.

Looking Ahead

As Toss continues to solidify its market presence, future intentions will focus on balancing growth with profitability. SG Lee articulated this dual strategy, indicating that continued innovation and user-centric product developments will remain at the forefront. The company's overarching goal is to ensure that the financial services provided are not only comprehensive but also tailored to the needs of its diverse user base.

Conclusion

The achievements of Toss in 2024 reflect a broader trend within the financial technology industry, where user engagement and innovative service delivery are paramount. With its impressive financial results and strategic foresight, Toss is well-positioned to redefine the landscape of financial services, demonstrating what can be achieved through a well-executed Superapp model. As it embarks on this journey of sustained financial growth, all eyes will be on Toss to see how it harnesses its momentum for future success.