Monday, June 10, 2024

Tech

IGAWorks, sales of 200.9 billion won in 2022

IGAWorks, a big data platform company, announced on the 14th that it recorded 200.9 billion won in sales (operating revenue) on a consolidated basis in 2022. Group data-based ad handling amounted to 542.2 billion won, up 11% from the previous year, and EBITDA (net profit before interest, tax, depreciation and amortization) was 2.84 billion won, maintaining a surplus trend over the past three years.


Although growth temporarily slowed down in the fourth quarter of last year due to the global economic crisis, igaworks continued to grow in double digits in both advertising revenue and sales, and the data platform segment grew by about 30% compared to last year. After accounting for stock options, the company reported an operating loss of 200 million won and a net loss of 52 million won. Profitability declined partly due to prolonged R&D to expand into new data areas such as commerce data and TV viewing data, as well as increased non-recurring expenditures for IPO preparation, review of new investments, and attempts to diversify the business of subsidiaries.


This year, IGWorks expands new businesses with data competitiveness strengthened through R&D. Following the launch of the newly named Commerce Data Service in early February, IGWorks will launch a new business model utilizing TV viewing big data in the first half of the year. The company plans to evolve into a company that covers all marketing areas with data, including the TV advertising market, not just digital advertising. In addition, it plans to drive internal operational efficiency and expand its influence by supplying its proven data solutions to overseas digital advertising markets.


"We have maintained our focus on data expansion to sustain our growth. Last year, we made a record-breaking investment in R&D to expand our data footprint into the e-commerce and TV sectors, and we now have unrivaled data technology SaaS solution assets." "We will take advantage of the accelerating global digital transformation as an opportunity to scale up and become a global data giant." said Eric Kukseong Ma, CEO of IGWorks.


And he continued "We will continue to systematically review and prepare for our IPO with a sense of urgency as we continue to innovate to take the next step forward. Given the macroeconomic concerns and weak demand for large public offerings in the capital markets, we will determine the optimal timing of our listing with our lead arrangers, and we have reappointed our designated auditor and are making all preparations for this."


IGAWorks, : https://www.igaworks.com/

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