Flitto, 3-Quarter Operating Profit Streak

Flitto Shows Dominant Growth in AI Language Data Market… Achieves Three Consecutive Quarters of Profitability Flitto, an AI language data specialized company, is attracting market attention by recording remarkable growth. Following its best performance since its establishment last year, the company continued robust growth in the first quarter of this year, achieving the feat of recording operating profit for three consecutive quarters. This is considered a truly outstanding achievement among AI companies listed on KOSDAQ through the business model special listing. Flitto announced through its Q1 2024 earnings report that it recorded approximately 4.6 billion won in consolidated revenue and approximately 170 million won in operating profit. Revenue increased by approximately 10.5% compared to the same period last year, and operating profit successfully turned to black. This performance proves that the strategy of restructuring the business portfolio towards profitability and maximizing cost efficiency, implemented after setting the goal of turning profitable last year, was effective. Particularly in this first quarter, the performance of 'Flitto Japan', a subsidiary located in Tokyo, Japan, stood out. By providing content translation and AI interpretation/translation solutions tailored to the demands of the Japanese market, it greatly contributed to revenue expansion and strengthened Flitto's global competitiveness. Furthermore, early this year, a total of three language data supply contracts were signed, the total value of which exceeds 65% of the previous year's total revenue, signaling strong growth momentum for the AI language data business segment. The lineup of AI interpretation and translation solutions based on high-quality data is also playing a key role in continuous revenue expansion. The conversational AI interpretation solution 'Chat Translation Enterprise' has been successfully adopted by major institutions such as the 'APEC Senior Officials' Meeting' and 'Gwangju Bank', and the AI simultaneous interpretation solution 'Live Translation' has demonstrated its technological prowess by creating a platform for global communication at large domestic and international conferences, including the 'Google Game Industry Leaders Summit'. Based on the distinct achievements in both its AI language data business and AI interpretation/translation solutions business, Flitto plans to further expand data supply to global big tech companies that require artificial intelligence training data in the future. Simultaneously, revenue from AI interpretation/translation solutions is expected to expand, particularly around major domestic and international conferences and the financial sector, aiming for remarkable growth this year as well, following last year's performance. Flitto CEO Lee Jung-soo stated, "Achieving profitability for three consecutive quarters, following last year's excellent performance, is even more meaningful as it is the result of successfully transforming Flitto's corporate DNA to be profit-oriented," and emphasized, "As the era of 100 trillion won investment in the domestic AI industry is discussed, Flitto will dedicate all efforts to advancing AI language data technology to establish itself as a true leader in the global AI language data market." Flitto is gathering expectations as a key player that will lead the future of the AI language data market, based on its innovative technology and robust business model.