Line Man Wongnai Revenue Up 21% Driven by Food Delivery
Line Man Wongnai's revenue grew 21% year-on-year in 2025, with gross profit up 39%. The company's net loss nearly doubled to $43 million.
Thai digital services platform Line Man Wongnai (LMWN) reported a 21% year-on-year revenue increase for 2025, reaching $544 million. The growth was primarily driven by its on-demand services segment, which encompasses food and grocery delivery, ride-hailing, and messaging, continuing to represent the largest portion of the company's income.
Gross profit saw a concurrent rise of 39%. However, the company's net loss nearly doubled, amounting to $43 million. CEO Yod Chinsupakul attributed the widened loss primarily to one-off and non-cash accounting items.
LMWN, alongside competitor Grab, holds a significant share of Thailand's food delivery market, collectively accounting for approximately 90%, with LMWN's share estimated at around 41%. The company is now focusing on enhancing its profitability and diversifying into payments, merchant software, and AI sectors.
Line Man Wongnai is reportedly preparing for a potential IPO in 2027 and is considering various listing venues. Analysts are observing the company's strategy to translate its scale into sustained profitability ahead of a possible public offering.