Seoul, Korea – April 14, 2025

Zigbang, South Korea’s leading proptech company, announced on May 14 that it posted consolidated revenue of KRW 101.4 billion (approx. USD 74 million) and an operating loss of KRW 28.7 billion in 2024.

Revenue remained above the KRW 100 billion mark for the second consecutive year, while the company significantly reduced its operating loss by more than 30% from the previous year’s KRW 40.8 billion.

Amid a prolonged real estate slump and broker headwinds, which led to a decline from KRW 129.7 billion in revenue the previous year, Zigbang improved profitability by reducing intangible asset amortization costs—mainly associated with its acquisition of Samsung SDS’s home IoT division. These non-cash expenses had a notable impact on operating loss.

The company’s cash flow also showed marked improvement. EBITDA, a key indicator of Zigbang’s core cash-generating ability, stood at minus KRW 16.7 billion, a 41% improvement from the previous year’s negative KRW 28.5 billion.

“Last year’s EBITDA results improved significantly, and we turned to operating profit in the first quarter of 2025,” a Zigbang spokesperson said. “Our efforts in efficient capital management, profitability from new businesses, and productivity enhancements have all contributed to stronger fundamentals.”

In 2024, Zigbang restructured its traditional real estate advertising business centered on studio and compact rentals, allocating more resources toward high-margin business models. Key initiatives included new services for local real estate agents—such as APT PRO and APT BASIC—through the Hogangnono platform, as well as the launch of informational ad products targeting Korea’s apartment presale market.

In its smart home division, Zigbang focused on productivity by overhauling everything from manufacturing to sales channels, responding to rising costs and macroeconomic challenges in the construction sector.

Looking ahead, the company plans to solidify its new real estate business while ramping up online B2C sales of smart home products. It also aims to gradually expand B2B supply of new devices and integration solutions to construction clients.

“Our Q1 profitability shows that our cost-efficiency efforts are beginning to pay off,” said Ahn Sung-woo, CEO of Zigbang. “We’ll continue to drive performance recovery through new real estate services and the rollout of next-generation smart home products.”