Lee Seung-gun, CEO and founder of Viva Republica, speaks during a press meeting at a gallery in Seoul, February 26, marking the 10th anniversary of its app, Toss. Courtesy of Viva Republica

Viva Republica, the operator of the mobile financial service Toss, said Friday that it posted its first annual profit since its establishment in 2015. The firm's revenue also reached a record high.

According to the company's 2024 full-year earnings report, its consolidated revenue, including that of its subsidiaries, reached a record 1.95 trillion won ($1.3 billion), marking a 42.7 percent increase year-over-year. Excluding subsidiaries, Toss alone reported revenue of 587.1 billion won, a 74.6 percent increase compared to the previous year.

The strong performance also led to Toss' first-ever consolidated full-year profit, indicating that the company has entered the stage of monetization. It reported 90.7 billion won in consolidated operating income and 21.3 billion won in consolidated net income.

The firm noted that the results reflect a significant improvement across all profitability indicators, largely driven by growth in its high-margin consumer services segment — money transfers, brokerage, advertising, simple payments, securities and tax services.

It demonstrates the success of Toss' balanced growth across its key subsidiaries, including Toss Securities, Toss Payments, Toss Income and Toss Insurance. In pursuing a "super app" strategy, the company has continued to launch competitive offerings across business lines while enhancing synergy among its affiliates.

At the same time, Toss' user base has also been expanding. By the end of 2024, the Toss app had 24.8 million monthly active users, marking a 29 percent year-over-year increase, according to data tracker WiseApp. This surge in active users drove higher engagement across key services, fueling growth in its businesses.

"Reaching this milestone in the 10th year since the launch of the Toss app proves that our growth strategy has evolved into a sustainable business model," said Lee Seung-gun, founder and CEO of Viva Republica. "We will continue to strengthen both profitability and growth through user-centric service innovation and ongoing advancement of our platform."