Enrise Turns Operating Profit Positive... Up 113.7% YoY

QUAT and WIPPY Drive Performance
Solidifying Fundamentals Through Cost Efficiency

Enrise, the operator of the online home training platform QUAT and the social discovery service WIPPY, announced on the 15th that it has achieved a positive consolidated operating profit for the first time in four years.

Enrise recorded consolidated sales of 43.4 billion KRW and an operating profit of 549 million KRW in 2024, achieving the highest performance since its establishment. The operating profit increased by 113.7% compared to the previous year, driven by years of cost structure optimization and efficient operational strategies.

The core businesses, QUAT and WIPPY, are also maintaining rapid sales growth. Sales of QUAT and WIPPY increased by 17.7% and 29.7% respectively compared to the previous year. QUAT offers various subscription-based exercise programs in response to the growing demand for systematic health management, and the formation of long-term user relationships through this appears to have led to an increase in subscription revenue. The number of active QUAT subscribers increased by 6.9% year-on-year, and new subscription revenue grew by 39.3% during the same period.

WIPPY successfully strengthened its dual security system by introducing an AI-based identity verification system and the 'PASS mobile ID verification service' to preemptively block inappropriate activities that may occur on the platform and respond swiftly when abnormal signs are detected. Since the introduction of PASS verification, the frequency of such activities has decreased by 70%, and related reports have dropped by 60%, significantly improving overall safety indicators. This focus on creating a healthy communication environment contributed to enhancing platform trust and user satisfaction.

This year, Enrise plans to further strengthen the growth of its key businesses. QUAT is increasing user engagement by developing new exercise equipment and expanding customized exercise content, and is currently developing large exercise equipment, previously only available in offline facilities, into compact and modular versions for home use. Along with expanding sales channels through commerce, the company aims to transform into a health tech platform that proposes overall lifestyle improvements beyond simply providing exercise content.

WIPPY will focus on strengthening its competitiveness domestically and targeting the Japanese market. Domestically, it will enhance platform trust by advancing AI and machine learning-based matching algorithms and strengthening systems to block unhealthy users. In Japan, it plans to expand its global user base through local partnerships and marketing strategies tailored to local culture.

Kim Bong-gi, CEO of Enrise, said, "This performance is significant as it reflects the results of continuous cost efficiency efforts and service advancement strategies. This year, we will further specialize in customer-tailored exercise content and AI-based friend recommendation technology to secure profitability and leap forward as a platform that brings joy to everyday life."