Toss Securities posts record Q1 earnings

Toss Securities, the onlineonly brokerage arm of Korean fintech giant Viva Republica, continues its upward trajectory, marking a significant milestone with its highest-ever quarterly net profit in the first quarter.

The company announced Monday that its net profit soared to a record 11.9 billion won ($8.7 million) in the first quarter, rebounding from a net loss of 400 million won in the same period last year.

This figure is equivalent to eight times the annual net profit of 1.5 billion won recorded in 2023, the year when the online brokerage first achieved an annual surplus since its inception in 2021.

In addition, the company reported an operating profit of 12.3 billion won in the first quarter, a turnaround from an operating loss of 400 million won a year ago. Sales also surged by 61 percent on-year to 79.9 billion won.

This quarter marks a significant milestone as both net profit and operating profit exceeded the 10 billion won mark for the first time. Since achieving its first-ever quarterly net profit and operating profit in the third quarter of last year, the company has maintained profitability and secured its first annual net profit, setting a precedent not only within Toss Securities but also among all Viva Republica affiliates.