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Kakao Pay Corp (377300) investor relations material
Kakao Pay Corp Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 saw TPV rise 12% YoY to ₩47T, revenue up 28% YoY to ₩238.4B, and operating profit reach ₩15.8B (+69% QoQ), with financial and platform services as key drivers.
Financial service revenue surged 72% YoY, platform service grew 69% YoY, and payment service revenue rose 6–14% YoY, with offline and cross-border payments showing double-digit growth.
User engagement metrics improved: DAU up 6% YoY to 6.56M, ARPU up 33% to ₩10,103, and average transactions per user up 43% YoY to 75.
Financial services accounted for 40% of total revenue.
Financial highlights
Q3 TPV: ₩47T (+12% YoY); Revenue TPV: ₩13.4T (+8% YoY); payment services TPV up 14% YoY; overseas payments up 16% YoY.
Q3 revenue: ₩238.4B (+28% YoY); operating profit: ₩15.8B (+69% QoQ); net profit: ₩19.1B; EBITDA: ₩24.1B.
Financial service revenue: ₩94.7B (+72% YoY); platform service: +69% YoY; payment service: ₩129.7B (+6% YoY).
Operating expenses rose 14.9% YoY but fell 2.8% QoQ; marketing/advertising expense up 44.6% YoY, kept at 10% of revenue.
Operating margin improved to 6.6%, net margin at 8.0%, and EBITDA margin reached 10.1%.
Outlook and guidance
Double-digit growth in financial and platform services expected to continue, supporting ARPU and topline expansion.
Asset-light strategy in offline payments to maximize user and merchant value, focusing on digital channels and personalized benefits.
Securities business aims to expand active customer pool and maintain high growth via new account openings, conversion, and AI-powered features.
Insurance business targets higher growth in 2026 with new products, enhanced offerings, and expanded direct counseling channels.
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