Stage Five recorded revenue of 111.2 billion won ($77.8 million) in 2025, a 282% increase from the previous year, the company said Thursday.
Operating losses narrowed to approximately 500 million won. Excluding 1.6 billion won in accounting costs related to stock option issuances, the company effectively surpassed its annual break-even point (BEP).
The growth was driven by the company's artificial intelligence-based telecommunications platform and its mobile virtual network operator (MVNO) business. Stage Five is pursuing a transition to a full MVNO model that goes beyond its existing MVNO operations by building its own infrastructure. The company's digital MVNO service, Pin Direct, has maintained net subscriber gains in the mobile number portability market alongside steady subscriber growth. By applying AI agents to the Pin Direct service, the company reduced customer acquisition costs (CAC) and customer service (CS) expenses by 10% and improved customer retention rates by more than 30%.
A full MVNO is a structure in which an operator independently manages all aspects of the telecommunications business, including network, platform and customer operations. The model is considered to offer higher profitability and scalability compared to conventional budget mobile carriers.
"We are securing both profitability and scalability through the advancement of our AI-based telecommunications platform and our full MVNO strategy," a Stage Five official said. "Based on this foundation, we plan to continue pursuing global market expansion and IPO preparations."