Vietnam’s first tech unicorn VNG targets record revenue, lower net loss in 2025

VNG Corporation (UpCoM: VNZ), Vietnam’s first tech unicorn, is targeting a record revenue of VND10.77 trillion ($412.3 million) this year, with a compound annual growth rate of 19% between 2023 and 2025.

Despite the top-line growth, the company projects a net loss of VND561 billion ($2.15 million) in 2025, nearly half the loss recorded last year, according to disclosures at its 2025 AGM held on Saturday.

This year, VNG is expected to issue 418,807 ESOP shares, equivalent to 1.43% of its outstanding shares, at a price of VND30,000 ($1.15) each. The shares will be subject to a one-year lock-up period.

In a strategic shift to reflect its broader business scope, VNG has added new segments, including news portal services, insurance agency and brokerage, and music recording and publishing. As a result, the company has officially rebranded to VNG Group.

Outlining upcoming business strategies, chairman Le Hong Minh said VNG will continue to prioritize artificial intelligence (AI) across infrastructure, platforms, and applications. The company views AI as a core pillar of its growth strategy in the coming years.

Beyond AI, VNG plans to strengthen its gaming business, targeting not only Southeast Asia but also markets in Hong Kong, Taiwan, the United States, and Europe.

Meanwhile, ZaloPay, VNG’s digital payment platform, is expected to maintain its growth by diversifying financial services and expanding its reach to underserved microfinance users.

In digital transformation, VNG will continue to serve large domestic and international enterprises, while also expanding its traditional offerings, including cloud infrastructure and related services.

VNG recorded a pre-tax loss of VND15 billion ($577,723) in Q1, marking the seventh consecutive quarterly loss, according to its Snapshot Q1/2025.

The firm posted revenue of over VND2.23 trillion ($85.9 million) in Q1. Although revenue from online games declined nearly 20% year-on-year, this segment remained the company’s largest contributor, accounting for nearly VND1.4 trillion ($53.9 million).

VNZ shares closed at VND338,000 ($12.9) each on Friday.