Atome Financial’s full-year operating income doubles to US$170M in 2023, turns profitable in Q1 2024

Atome Financial, Southeast Asia’s leading digital financial services platform, comprising Atome buy-now-pay later (BNPL) and Kredit Pintar, one of Indonesia’s foremost digital lending platforms, announced today its exceptional financial performance for the full year of 2023.

The company’s unaudited statement from January to December 2023 showcases a remarkable achievement, with operating income nearly doubling to US$170 million, marking an impressive jump from the previous year’s US$88 million. In addition to this notable growth trajectory, Atome Financial achieved another significant milestone in the first quarter of 2024 by turning EBITDA positive, demonstrating the company’s strategic prowess and sound financial management.

One of the standout successes for Atome Financial lies in the profitability of its BNPL business, Atome. With GMV (Gross Merchandise Volume) of nearly US$1.5 billion processed in 2023 – a 40% increase from the preceding year despite significant cost rationalisation and macro headwinds – Atome BNPL turned profitable, thanks to a 130% surge in revenue.

The journey to achieving this significant milestone can be attributed to several key factors:

• Laser-focused operational efficiency: Disciplined operational execution, streamlining processes and relentless focus on core business fundamentals to maximise profitability.
• Expansion of regional commercial partnerships: Strategic collaborations with leading regional ecommerce platforms such as TikTok Shop and Lazada, alongside forging new partnerships like Chubb, played a pivotal role in expanding Atome’s revenue and user growth.
• Expansion and diversification into broader digital financial services: New product launches include the Atome PayLater Anywhere Card in the Philippines and Atome Cash loans in both the Philippines and Indonesia, diversifying its product offerings and leveraging the company’s unique knowledge of local markets and expertise in risk-managed credit and underwriting. 
• Solid capital base: Strong support from shareholders and capital partners which validate Atome’s regional platform value and operational excellence, enabling Atome to continue to innovate and scale profitably.

Atome Financial’s exceptional performance underscores the company’s resilience, adaptability, and unwavering dedication towards its mission of providing consumers with easier, simpler, and more affordable access to digital-first financial services, leveraging world-class risk management and underwriting technology, coupled with disciplined operational execution.