Tapsi’s User Acquisition Cost Surpasses Revenue

In the nine-month period of 1403 (roughly March to December 2024), Tapsi earned 1 trillion and 505 billion Tomans in revenue and 276 billion Tomans in net profit. In addition to its operational and administrative expenses, the company spent 1 trillion and 775 billion Tomans on attracting drivers (ambassadors) and users. This figure is 18 percent higher than the ride-hailing service's revenue.

The company's unaudited financial statements published in January 2025, show that Tapsi's revenue has doubled compared to the same period last year. Its operating expenses have also increased proportionally.

Another part of Tapsi's expenses relates to transfer costs – expenses incurred for attracting and incentivizing drivers, as well as marketing costs to attract passengers. This ride-hailing service spent 1 trillion and 775 billion Tomans on this in the nine months of this year, which is more than its operating revenue. It appears that the competition to increase market share has been very costly for Tapsi.

According to accounting rules, 410 billion Tomans of this amount has been amortized and, by being included under operating expenses, has affected the company's profit, resulting in a reported net profit of 276 billion Tomans for Tapsi. The remaining 1 trillion and 365 billion Tomans has not affected net profit and will be amortized in subsequent years.

Number of Drivers Exceeds 3 Million

According to the management's commentary report, the number of verified Tapsi drivers has reached 3 million and 90 thousand. This ride-hailing service also has 29 million and 590 thousand registered passengers.

By sponsoring the "Hezar-o-Yek" (One Thousand and One) show on the Nasim (tv channel), Tapsi hopes to acquire more than 4 million new users. This program started last week and awards 200 million Tomans in prizes to competition participants every night – a competition that is exclusively run on the Tapsi platform.