Dearu

디어유 · 376300

Information Technology Software · KOSDAQ

Small-cap

Market cap US$689.8M (₩951.9B)

Overview

Dearu operates DearU bubble, a subscription messaging app that lets K-pop artists send private, one-to-one messages directly to their fans.

Listed on KOSDAQ, Korea's tech-focused stock exchange, it serves fans worldwide who pay a monthly fee to receive messages from their favourite artists. Every subscriber is a paying user, meaning the service generates no free-tier traffic, and virtually all revenue flows from this single subscription product.

Summary is AI-generated and may contain errors · figures from DART filings

Financials

Source: DART · FY ending Dec · latest FY2025

Revenue · FY2025

US$60.7M

▲ +12.0% YoY

Operating profit · FY2025

US$22.7M

▲ +23.5% YoY

Net income · FY2025

US$13.5M

▼ −23.6% YoY

Revenue, operating profit and net income by fiscal year (USD; KRW in parentheses).
Metric	FY2023	FY2024	FY2025
Revenue	US$54.8M(₩75.7B)	US$54.2M(₩74.9B)	US$60.7M(₩83.8B)
Operating profit	US$20.7M(₩28.6B)	US$18.4M(₩25.4B)	US$22.7M(₩31.4B)
Net income	US$19M(₩26.2B)	US$17.7M(₩24.4B)	US$13.5M(₩18.6B)

Revenue

FY2023US$54.8M
FY2024US$54.2M
FY2025US$60.7M

Operating profit

FY2023US$20.7M
FY2024US$18.4M
FY2025US$22.7M

Net income

FY2023US$19M
FY2024US$17.7M
FY2025US$13.5M

Key ratios (FY2025)

ROE

8.9%

Debt/Eq

15.8%

Op. margin

37.4%

Net margin

22.2%

Rev. YoY

▲ +12.0%

Why it matters

Dearu has a strategic collaboration and service agreement with Tencent Music Entertainment Group, through which it launched QQ Music bubble for the Chinese market and a bubble service on the JOOX platform targeting Southeast Asia.

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