Toss Securities, a subsidiary of Viva Republica and operator of the popular financial super app Toss, has announced impressive financial results for the first half of 2024. The company achieved its full-year operating profit target of $22.3 million (KRW 30.6 billion) in just six months, exceeding expectations. This remarkable achievement was driven by robust growth in U.S. securities trading, which saw a staggering 96% increase in trading volume year-over-year. Domestic securities trading also performed well, recording a 38.7% increase in trading volume year-over-year.
Toss Securities’ consistent profitability is further evidenced by its strong second quarter performance, which saw an operating profit of $13.4 million (KRW 18.3 billion) and a net profit of $16.4 million (KRW 22.4 billion). This follows a successful first quarter where the company also posted positive financial results.
The company’s commitment to innovation and customer-centricity has played a significant role in its success. Toss Securities has been a pioneer in offering user-friendly and accessible financial services. Its integrated account service, which allows customers to trade multiple financial instruments from a single account without requiring separate apps, has been particularly popular, attracting over 6.1 million customers since its launch in March 2021. The company’s monthly active users (MAU) currently exceed 3.2 million.
Looking ahead, Toss Securities is poised for continued growth. The company is focused on product diversification, with recent launches including U.S. bonds trading and its new PC-based Web Trading System (WTS). With a projected operating profit exceeding $43.9 million (KRW 60 billion) for the second half of the year, Toss Securities is well-positioned to continue its impressive trajectory. The company is evolving into a data-driven investment platform, offering a wide range of services, including real-time overseas decimal stock trading, community features, and customized content.
Toss Securities’ remarkable success in the first half of 2024 highlights its strong business model, innovative approach, and commitment to providing exceptional financial services. The company is well-positioned to continue its growth trajectory in the coming years.
