Kakao Pay (377300) investor relations material

Executive summary

• Q2 2026 saw robust growth across all business lines, with consolidated revenue up 41% year-over-year to KRW 335.1 billion and TPV reaching KRW 54.2 trillion, up 20% year-over-year.

• Digital finance revenue surged 75% year-over-year, now comprising 52% of total revenue, driven by investment and insurance growth.

• Operating profit hit a record KRW 58.6 billion, with EBITDA at KRW 67.5 billion and net profit at KRW 49.6 billion; OP margin at 17.5% and net margin at 14.8%.

• User engagement and cross-service usage increased, with ARPU up 39% year-over-year and average transactions per user up 26%.

Financial highlights

• Q2 consolidated revenue: KRW 335.1 billion (+41% YoY); TPV: KRW 54.2 trillion (+20% YoY); revenue TPV up 19% YoY to KRW 15.7 trillion.

• Operating profit: KRW 58.6 billion (+triple digits YoY, +82% QoQ); EBITDA: KRW 67.5 billion; Net profit: KRW 49.6 billion.

• OP margin: 17.5%; Net income margin: 14.8%; EBITDA margin: 20.1%.

• Standalone revenue: KRW 196.8 billion (+18% YoY); Standalone OP: KRW 26 billion (+83% YoY).

• Operating expenses rose 21% YoY to KRW 276.5 billion, with marketing expenses up 33% YoY.

Outlook and guidance

• Management expects continued qualitative growth, focusing on operational efficiency, user lock-in, and data-driven service enhancements.

• Platform and digital finance businesses are positioned as key growth engines, with ongoing investments in AI and stablecoin infrastructure.

• Targeting further expansion of partner institutions for loan services, aiming for 20 by year-end.

• Continued focus on cross-usage strategies and product diversification to drive user engagement and revenue.