ably posted a record-high revenue last year. Investments in new businesses such as Namsung fashion and global operations translated into top-line growth. The loss also narrowed.
ably said on the 10th that last year's revenue rose 10.6% from a year earlier to 369.7 billion won. It is the largest since the company's founding. Annual transaction volume also increased 12% to 2.8 trillion won, the largest ever.
Profitability also improved. Last year's operating loss was 4.3 billion won, down 72% from a year earlier, and net loss shrank 83% to 3 billion won.
The growth of the existing ably platform, along with expansion into new businesses such as Namsung fashion and global, supported the results, according to analyses. As the company diversified categories including fashion, beauty, food, and music and targeted Namsung and overseas markets, service revenue rose 20.2% to 227.3 billion won.
Product revenue reached 142.3 billion won, forming an annual scale of more than 100 billion won. The company said the startup solution "Partners" model has taken root as a stable revenue source.
By platform, ably's standalone transaction volume came to 2.5 trillion won, with revenue of 337.4 billion won. Operating profit was 13 billion won. On a standalone basis, the company is in the black for a third straight year.
New business growth also stood out. Transaction volume on the Namsung app 4910 (Saguil-gong) jumped 137% from a year earlier. Monthly active users (MAU) doubled from about 1.7 million in March last year to about 3.4 million in December.
In Japan, the application (app) Amood reached 6.5 million cumulative downloads. The number of markets that entered Japan through Amood surpassed 25,000.
Cash and cash equivalents at year-end were about 100 billion won, up about 28 billion won from a year earlier, and cash flow from operating activities posted a surplus of 15.05 billion won.
Cash flow from operating activities is an indicator showing the net increase or decrease in cash generated from actual business operations. A positive (+) figure means the company is accumulating cash from operations without external financing.
ably CEO Kang Seok-hoon said, "The revenue base of our core platform is strengthening, and the results of our investments for future growth are beginning in earnest," adding, "We will continue to provide services needed by both users and sellers based on data and technology."