HLB Global’s push into media commerce is delivering record-breaking revenue, but its bottom line is still in the red. 

The company reported standalone sales of 67 billion won ($47 million) last year, a 124 percent jump from the previous year, driven by brands like CARMIM (auto care) and SPA:R (portable massagers), both topping 15 billion won in sales.

But while the division turned a profit, HLB Global’s consolidated losses continue to weigh on the balance sheet.

The company disclosed Tuesday that its operating profit on a standalone basis surged 116 percent to 706 million won, marking sustained profitability since turning a profit in early 2024. Still, its consolidated operating loss remained at 3.7 billion won, even as consolidated revenue climbed 23 percent to 98.3 billion won. Net loss improved, shrinking to 8.6 billion won, but the company remains in recovery mode.

HLB Global credits its media commerce expansion for the revenue boost, highlighting strong demand for newly integrated brands. In addition to CARMIM and SPA:R, the company is banking on urban concrete (camping gear) and Well247 (wellness) to drive further growth this year.

CEO Kim Kwang-jae emphasized cost-cutting and restructuring as part of the company’s financial strategy. "Despite economic uncertainty, we moved quickly to align with shifting consumer trends, launching products that gained strong market traction," he said. "This year, we will expand further into metabolic disease and senior healthcare, reinforcing our position in the life care market."

HLB Global’s transition to direct-to-consumer (D2C) sales accelerated after its 2022 acquisition of TI Corporation, moving away from traditional B2C distribution. The company restructured its operations in 2023, integrating its media commerce division to drive profitability. By May 2024, it reclassified its industry designation from non-metallic mineral mining to general retail, reinforcing its focus on digital-first sales and product development.

Beyond media commerce, HLB Global is also expanding into digital healthcare. In July 2024, the company acquired 355,000 shares of Barabio for 6 billion won, strengthening its position in senior healthcare as a future revenue driver.