IGAWorks Reports 200.9 Billion KRW in Revenue Last Year... Three-Year Profit Streak Maintained

Continued Double-Digit Growth in Sales and Advertising Handling Amounts

Big data platform company IGAWorks (CEO Maguk Seong) announced on the 14th that it recorded consolidated sales of 200.9 billion KRW last year. The group's data-based advertising handling amount increased by 11% year-on-year to 542.2 billion KRW. Earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at 2.84 billion KRW, maintaining a profit trend over the past three years.

IGAWorks explained that although growth temporarily slowed in the fourth quarter due to the impact of the global economic downturn, both advertising handling amount and sales continued double-digit growth, and the data platform sector also grew by about 30% compared to the previous year. The audited report reflecting accounting treatment for stock options recorded an operating loss of 200 million KRW and a net loss of 52 million KRW. Research and development (R&D) for expanding new data areas such as commerce data and TV viewing data has been prolonged, and non-recurring expenses increased due to IPO (initial public offering) preparations, new investment reviews, and attempts to diversify subsidiaries' businesses, resulting in some decline in profitability.

This year, IGAWorks plans to expand new businesses using enhanced data competitiveness through R&D. Following the newly launched commerce data service in early February, it will release a new business model utilizing TV viewing big data within the first half of the year. The company aims to evolve into a business that covers all marketing areas with data, not limited to digital advertising but also encompassing the TV advertising market. Additionally, it plans to promote internal operational efficiency and expand its influence by supplying its proven solutions to overseas digital advertising markets.

Maguk Seong, CEO of IGAWorks, said, "Considering sustainable growth, we maintained the data expansion trend. Last year, we made investments in the R&D sector to expand data areas into e-commerce and TV fields," adding, "We will take the global acceleration of digital transformation as an opportunity for scale-up and become a global data giant company."

CEO Ma continued, "While repeatedly innovating for a leap forward and securing leadership, we will continue systematic review and preparation for the IPO," adding, "Considering concerns about the macroeconomy and the reduced demand for large public offerings in the capital market, we will decide the optimal listing timing with the underwriting consortium, and for this purpose, we have reappointed the designated auditor and are making all preparations."

This content was produced with the assistance of AI translation services.