Toss Posts KRW 1 Billion Net Profit in Q1... Maintains Profitability with 41% Operating Revenue Growth

Impact of Expanded Tech Infrastructure and Workforce Investments
Early Repayment Costs from Toss Payments Reflected

Viva Republica, the operator of the mobile financial platform Toss, saw its net profit plummet in the first quarter of this year due to increased infrastructure investment and one-off financial costs.

Toss. Yonhap News Agency

On May 15, Toss announced in a regulatory filing that its consolidated net profit for the first quarter of this year was KRW 980 million, a 98% decrease compared to KRW 48.8 billion in the same period last year.

The company attributed this decline to increased costs from expanding tech infrastructure and workforce investments, as well as higher sales-linked expenses driven by revenue growth. In fact, consolidated operating expenses for the first quarter reached KRW 768 billion, up 54.5% from KRW 497 billion in the same period last year.

Additionally, the company explained that one-off financial costs, such as early repayment fees and accounting profit and loss incurred during the refinancing process of Toss Payments, also contributed to the decline in net profit.

However, the company’s top-line growth continued. Consolidated operating revenue for the first quarter was KRW 805.3 billion, a 41.8% increase from the same period last year. This was attributed to balanced growth across key business segments, including advertising, financial brokerage, securities, and payments.

Operating profit was KRW 37.2 billion, down 47.5% from KRW 70.8 billion in the same period last year.

A Toss representative stated, “The steady growth of our major services continued, while some one-off financial costs were reflected,” adding, “The key takeaway this quarter is that we maintained consecutive profitability while achieving revenue growth in the 40% range.”

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