BankSalad Sees 77% Revenue Growth Last Year... "Annual Profitability in Sight"

BankSalad announced on April 1 that its revenue grew by 77% year-on-year last year, continuing its rapid growth, and that its profitability is also showing a clear improvement.

The company’s revenue last year was 26 billion won, a 77% increase compared to the previous year. Operating expenses during the same period reached 33.6 billion won, marking only a 14% increase year-on-year. Excluding non-cash expenses such as stock compensation, operating expenses amounted to 27.9 billion won, and the resulting adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) improved by 74% year-on-year to negative 1.9 billion won.

When excluding non-cash and one-off accounting factors related to Redeemable Convertible Preferred Shares (RCPS), the net loss for the period stood at approximately 600 million won, representing an 89% reduction from the previous year and bringing the company within reach of annual profitability.

BankSalad has strengthened its financial transparency and external credibility by adopting K-IFRS (Korean International Financial Reporting Standards) starting with its 2025 business report. In addition, the company completed the conversion of RCPS, which are classified as liabilities under K-IFRS, into common shares, thereby finalizing them as capital with no associated liabilities or losses.

Since the official introduction of MyData, BankSalad has achieved a compound annual growth rate (CAGR) of approximately 104% in revenue over the past two years, securing a stable monetization structure and continuing to expand its platform-based business.

As Korea’s only financial and health asset management platform, BankSalad plans to maintain its growth momentum by launching new services and exploring new business models. The company also aims to accelerate innovation in data-driven financial AI agents across all sectors, including loans, cards, and insurance, and to expedite its transition into an “AI-native company,” where operations and service structures are centered on AI.

A BankSalad representative stated, “BankSalad continues to prove its competitiveness through its data and AI technological capabilities and differentiated products, and uniquely upholds the essential value of a financial platform by substantially increasing customers’ financial benefits. Moving forward, we will continue to promote healthy growth by further strengthening both innovation value and stable business balance through customer-centric data products.”

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