Flitto, 800 Million Won Net Profit... Returns to Profitability

AI language data company Flitto announced on the 13th that it recorded sales of 20.3 billion KRW and a net profit of 800 million KRW on a consolidated basis last year. This is the highest performance since Flitto's founding, achieving last year's goal of profitability, including a turnaround to operating profit on a separate basis.

Last year, Flitto supplied data to global big tech companies and began generating sales from its AI real-time translation solutions. Through strategies such as enhancing the quality of data for AI training, focusing on a profitability-oriented business portfolio, and maximizing cost efficiency, the company achieved its best-ever performance.

Flitto's achievement of turning a profit without reducing research and development (R&D) expenses signifies a significant value shift to a profit-generating company rather than a one-time performance. It recorded an average annual sales growth rate of over 30% for three years.

Flitto CFO Minyong Yoon said, "We will continue to pursue strategies to expand profitable new businesses and maximize cost efficiency to maintain solid performance."

This year, Flitto plans to supply data to existing clients at a significantly increased scale compared to the previous year. It is about to sign contracts with new clients, including global big tech companies and AI-specialized firms. The company expects various AI solutions, including generative AI, to grow mainly in the U.S. market. Demand for voice data, image data, and other data collected through the Flitto platform is also expected to increase explosively.

In Flitto's new business sector, the AI-based real-time interpretation and translation solution business is accelerating full-scale sales expansion, with major references established in various fields and a flood of inquiries for adoption.

Flitto plans to establish a local subsidiary in the U.S. to actively expand overseas. With over 70% of its sales already generated from the U.S., Flitto has secured competitiveness in the American market. The company will strategically expand its presence in the U.S. market by smoothly providing solutions to local clients.

Flitto CEO Jeongsu Lee said, "Last year's business results were thanks to the efforts of Flitto employees who traveled the world to achieve the goal of turning a profit," adding, "We will make this year the first year to further strengthen the company's fundamentals and actively enhance shareholder value." He continued, "With a successful entry into the U.S., we will rise as a leading global AI data company."