[Edaily Reporter Kwon Oh Seok ] On the 25th, independent research firm Valuefinder announced that #ADforus Co., Ltd., as the only official top-tier Google GCPP (Google Certified Publisher Partner) in Korea, possesses a competitive edge in advertising rates and is projected to see consolidated revenue grow by more than 80% year-over-year this year.

ADforus Co., Ltd., a full-stack mobile advertising platform company founded in 2014, was listed on the KOSDAQ market through a SPAC merger in 2025. It is the only full-stack adtech operator in Korea to possess an SSP, DSP, ad network, and Google MCM. Notably, by obtaining Google GCPP certification in March 2025, it secured its status as the only publicly listed company in Korea to hold GCPP certification.
GCPP is a certification through which Google delegates the authority to secure inventory for ad delivery; it is characterized by competitive ad rates 1.5 to 2 times higher than those of standard display ads and a high ad execution rate of 50–60%.
The performance of its new RTB (real-time bidding)-based platforms is also growing rapidly. Revenue from new platforms such as M-Plate, CubeMine, and CubeX reached 570 million won in the first quarter of 2026, a 214% increase compared to the same period last year. In particular, CubeX has seen its profitability improve by more than 250% since January of this year, following the implementation of AI optimization technology based on Google Gemini.
Furthermore, the company has strengthened its ties with global big-tech advertising networks through a partnership with Pangle—owned by TikTok’s operator ByteDance—and integration into the ecosystem of Nasdaq-listed AppLovin. As of the first quarter of 2026, the sustained execution rate for revenue sources stood at 97.1%, and the sustained execution rate for media channels was 99.4%, demonstrating high revenue stability. With 30 employees, revenue per employee was approximately 1 billion won, confirming the high efficiency characteristic of data-driven platform businesses.
Jeon Woo-bin, a researcher at Value Finder, analyzed, “ADforus Co., Ltd. is the only publicly listed company in Korea to hold GCPP certification. With revenue from its new RTB-based platform growing 214% year-over-year in the first quarter of 2026, the company has entered a phase where its qualitative asset—Google certification—is translating into tangible revenue.”
He continued, “The gross profit margin for the advertising platform segment improved to 23.5% as of 2025, and the non-labor-intensive structure—with revenue per employee at around 1 billion won—enables earnings growth without increasing headcount.”
He also noted, “The net loss for 2025 was a one-time factor resulting from non-cash expenses (4.55 billion won) incurred during the SPAC merger; excluding this, the company is estimated to have recorded a net profit of approximately 2.5 billion won,” and “With a recovery in core business profitability confirmed starting in the first quarter of 2026, and assuming On the Planet’s results are fully reflected starting in the third quarter, annual revenue growth of over 80% is also possible,” he projected.