TMAP Mobility announced on the 15th that its third-quarter revenue was 76.31 billion won, showing a 30.8% increase compared to the same period last year (58.36 billion won). This growth is attributed to a balanced expansion across its business sectors and the tangible impact of the ‘All New TMAP’ launched in September.
The area contributing most significantly to revenue growth was ‘Mobility Life,’ which saw a 131% increase compared to last year. With the rise in travel demand, car rentals recorded a 52% growth, and airport bus services are quickly recovering to pre-COVID levels. Parking and advertising businesses also demonstrated substantial increases of 233% and 48%, respectively, benefiting from the recently launched All New TMAP.
In September, TMAP Mobility integrated public transportation into the TMAP platform, in addition to driver-centric services such as navigation, parking, designated driving, and electric vehicle charging. New features such as airport bus inquiries and reservations, as well as shared bike and accommodation booking services, have expanded the various areas of mobility life.
Thanks to this strategy, TMAP gained 650,000 new subscribers within a month, and the conversion rate for vertical services increased by 1.4 times. Users activating public transportation grew by 2.5 times, and those searching for places increased by more than double. Notably, the number of visits for TMAP’s detailed location recommendations surged by over six times.
Aligned with this positive trend, TMAP’s data sectors, including Auto, API, and UBI, grew by 68%, and mobility platform brokerage services like designated driving, valet, and cargo saw a 14% increase compared to last year.
Profitability through cost efficiency has shown continuous improvement. The net loss for the quarter was 24.84 billion won, which is an increase of 293 million won compared to the same period last year (negative 24.55 billion won). However, the net profit margin improved to negative 32.6%, an improvement of 9.5 percentage points compared to the same period last year (negative 42.1%).
Lee Jae-hwan, Chief Strategy Officer(CSO) of TMAP Mobility, stated, “Since the launch of the All New TMAP in the third quarter, the activation of vertical services and growth opportunities in new areas of mobility life have become evident. We will maintain our revenue growth based on integrated mobility while continually enhancing profitability.”
Lee Sang-jin daedusj@autodiary.kr