Toss headquarters in Seoul / Courtesy of Toss
Viva Republica, which operates the mobile financial service Toss, announced Thursday that it recorded a consolidated operating revenue of 502.1 billion won ($357 million) in the third quarter. That is a 47.5 percent increase year-on-year and its highest quarterly performance ever.
The consolidated cumulative operating revenue reached 1.416 trillion won, surpassing the total consolidated operating revenue of 1.371 trillion won for all of 2023.
Viva Republica attributed the achievement to the steady growth of Toss' overall consumer services, including advertising, mobile payment service Toss Pay and loan brokerage. The advertising service sector especially marked steep growth, driven by 19.1 million monthly active users.
The consolidated operating profit for the third quarter recorded 10.9 billion won. It also recorded a consolidated net profit of 3.9 billion won, successfully turning into a quarterly profit. Behind the turnaround were strong performances from its subsidiaries, including Toss Securities.
Toss Securities marked an operating profit of 29.6 billion won for the third quarter, and its year-to-date operating profit reached 60.2 billion won as of the third quarter, already doubling its annual operating profit target. Its third-quarter revenue increased by 117.9 percent year-on-year to 119.9 billion won, and net income also soared by 833 percent to 32.4 billion won.
The continuous growth in overseas securities trading services since last year has been a key driver in improving Toss Securities' overall performance. Overseas commission revenue increased by 165.4 percent compared to last year, and year-to-date growth in the third quarter increased by 119.7 percent.
"We achieved the highest quarterly revenue ever, along with operating profit and net profit, thanks to the balanced growth of Toss services and the strong performance of our affiliates and partner companies," Toss CEO Lee Seung-gun said.
"We will continue efforts to maintain healthy growth as a platform, securing both revenue and profitability."