Tmap Mobility has improved its profitability, bolstered by the strengthening of its AI-based platform and growth in its mobility data business.
On August 14, Tmap Mobility announced it achieved an EBITDA of 4.4 billion won in the second quarter of this year, marking a 3.6 billion won increase compared to the same period last year. The company reported second-quarter revenue of 74.4 billion won, a 7.4% increase year-over-year.
In June, the company also turned its monthly operating profit positive. Tmap Mobility expressed optimism, stating, "Expectations for annual profit improvement have increased."
The core growth driver, the 'mobility data and solutions' sector, saw a 14% increase year-over-year, driven by expanded data collaborations across various industries and service enhancements.
The Tmap Auto, integrated into vehicles, grew by 11.7% compared to the previous year. The usage-based insurance (UBI) based on driving habits increased by 9.6%, thanks to the introduction of insurance products that diversify offerings, such as a step count-based insurance rider. The number of subscribers to the driving score rider has consistently exceeded 1 million each quarter. The application programming interface (API) and data business also grew by 2.9%, driven by demand for business-to-business (B2B) data.
The platform sector introduced new services, including open profiles. Additionally, the AI location recommendation service 'Where to Go' has been enhanced, strengthening the competitiveness of AI and content-based services. Tmap plans to launch the 'Where to Go' service in September 2024, utilizing Tmap's driving and visit data along with AI to recommend restaurants, cafes, and tourist attractions. Since then, the service has been enhanced with features like 'Menu Search' for searching restaurants and a review summary function.
The monthly active users (MAU) averaged 15.2 million for the quarter, with 14.7 million monthly users engaging with content such as location exploration and recommendations, and AI agent traffic increasing to 5.56 million, indicating broad growth across usage metrics. The company stated, "We plan to continue expanding services in the second half of the year to maintain our platform growth momentum."
Lee Jae-hwan, CEO of Tmap Mobility, remarked, "The business transformation centered on AI and mobility data is yielding tangible results. We will enhance our AI-based platform competitiveness and expand synergies with the mobility data business to strengthen our foundation for sustainable growth and stable profit generation."
* This article has been translated by AI.
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