Tmap Mobility announced on the 23rd that its revenue last year reached 291.8 billion won, a 41.1% increase compared to the previous year. The growth was fueled by an increase in active users and steady growth across its three main business areas: mobility brokerage, life, and data.
The area showing the greatest growth potential is the Data & Tech sector. Revenue from the UBI (Usage-Based Insurance) business surged by 88.9%, while TMAP Auto and API & Data businesses grew by 26.4% and 16.2%, respectively.
In the case of UBI, the number of active users on the TMAP platform consistently increased, with the number of scoring users surpassing 16 million for the first time at the end of last year, exceeding 74% of the total number of subscribers. TMAP’s average monthly active users (MAU) last year reached a maximum of 14,716,752 (October), while daily active users (DAU) stood at 6.02 million.
Tmap Auto has continuously expanded its market share in the software-centric automotive sector, being equipped in brands such as Mercedes-Benz and BMW, thus broadening its reach. The API & Data business also demonstrated steady growth by increasing its clientele by 20% over the past two years.
In the platform brokerage area, performance saw a 153% increase in services such as chauffeur and valet, as external uncertainty factors eased.
The revenue increase in the mobility life sector was also striking. The airport bus service experienced over a sevenfold growth in revenue, driven by fast recovery in travel demand along with the activation of reservation and payment services through the TMAP platform. Parking services saw a 90.4% increase, while advertising and rental car businesses rose by 53.8% and 17.1%, respectively.
Profitability continued to improve through fixed cost efficiency from commission fees. Net profit rose to -37.1 billion won, an increase of 12.91 billion won compared to the same period last year (-166.2 billion won).
Lee Jae-hwan, Chief Strategy Officer of Tmap Mobility, stated, “Through aggressive expansion of high-growth potential businesses along with cost efficiency, we expect to achieve a positive adjusted EBITDA in 2024. We will undoubtedly show remarkable results through continuous innovation and development.”
Lee Sang-jin daedusj@autodiary.kr