HR tech company Wanted Lab Co., Ltd. announced in its quarterly report on the 15th that it recorded sales of 7.9 billion won and an operating loss of 1.2 billion won in the first quarter of 2024.
The main recruitment business division recorded sales of 6 billion won. This is the result of a decrease in the number of successful applicants due to the off-season for recruitment in the previous quarter and the conservative recruitment trend of companies due to domestic and international economic conditions. However, the average recruitment fee was 4.55 million won, similar to the same period last year, and it was found that the demand for recruitment for core technology positions such as AI continues.
The number of individual members increased by 10% year-on-year to 3.68 million, and the number of corporate customers increased by 16% to 32,000, showing that platform usage indicators are maintaining growth.
In the second quarter, with the peak recruiting season approaching, profit and loss improvement is expected due to the full-scale reflection of sales from the flat-rate model for companies introduced this year. Unlike the existing 'pay per successful candidate' method, the flat-rate model is a contract-based model that provides recruiting services during the contract period, and is structured to recognize sales in installments according to the period.
As of the first quarter, the number of domestic job changers increased by 13% compared to the previous quarter, and the number of successful applicants, a leading indicator of Wanted Lab's hiring, increased by an average of 14% per month, showing signs of recovery. In particular, it is noteworthy that the proportion of large corporate customers is increasing due to the increase in demand for AI Transformation (AX) centered on large corporations.
In the new business sector, sales reached 1.9 billion won, up 16% year-on-year. It is continuing to grow steadily based on connections with existing recruitment businesses such as education, freelance matching, and HR solutions. In addition, Wanted Lab is continuously investing in new AX-related businesses centered on 'Wanted LaaS' (AI Agent Builder) based on its AI development experience.
Investments are also underway to expand overseas business and enhance AI capabilities. The local AI matching infrastructure is being strengthened through strategic support for the Japanese IT talent matching platform ‘Laplace’, and talent exchange programs between companies in both countries are also in full swing.
Lee Bok-ki, CEO of Wanted Lab, said, “We plan to introduce an HR agent that automates the entire recruitment process based on AI technology and approximately 10 million successful applicant data,” and added, “We will strengthen our influence and expand sales in the global AI agent market, which is expected to grow by approximately 50%.” He added, “We also expect to create gradual global results through collaboration with ‘Laplace’ in the Japanese HR market.”
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