Irish arm of TikTok records loss of €183m as revenues rise 32%

Last year, TikTok Technology shelved plans for a second data centre for Dublin.

The Irish arm of social media giant TikTok last year recorded pre-tax losses of $203.7m (€183m) despite revenues rising by 32% to $1.135bn.

New accounts filed by TikTok Technology Ltd show that the pre-tax losses of $203.7m arose from hefty foreign exchange losses of $241m (€216m) along with non-cash impairment costs of $65.8m (€59.1m). It followed the firm enjoying a pre-tax profit of $146.5m (€131.6m) in 2024 — a negative swing of $350.2m (€314.6m).

In March of last year, the Chinese video-sharing platform informed Government that it was planning to make redundant up to 300 of its Dublin-based staff. The accounts show that numbers employed across 2025 reduced by 600 from 2,708 to 2,108.

Numbers employed in operation and administration reduced by 214 from 1,973 to 1,759 while numbers employed in sales and marketing more than halved from 735 to 349. This resulted in the firm’s wage and salary costs reducing by 13% or $27.7m (€24.89m) from $214.4m (€192.65m) to $186.74m (€167.8m).

The directors state that the company has performed in line with expectations and revenues increased during the year, reflecting higher service charges and the expansion of TikTok Shop in EEA and Switzerland.

The revenues of $1.13bn (€1.02bn) for 2025 are a $273.5m (€245.7m) increase on the revenues of $862m (€774.55m) in 2024.

In a bid to address the foreign exchange losses of $241m (€216m) last year, the firm from January 1 this year has changed its functional currency to euro.

A note attached to the accounts states that “the change reflects developments in the underlying economic facts and circumstances, including the increasing significance of transactions, sales and costs denominated in euro, and will be applied prospectively from the date of change”.

On the impairment losses for 2025, a note states that $45.7m (€41m) relate to assets that were acquired for intended use in the company's data centres and the full amount has been written off as the assets will not be brought into future use.

Last year, TikTok Technology shelved plans for a second data centre for Dublin.

Separately, the remaining $20.1m (€18m) relates to office fit-out assets associated with a leased office that remains unoccupied as of December 31, 2025, and management has concluded that these assets will not be used in future operations.

In a separate post-balance sheet event, a note states that in January 2026, the company entered into a settlement agreement for compensation from a supplier for early termination of a data centre project. Under the terms of the agreement, TikTok Technology expects to receive compensation of €100m (€89.86m) in 2026.

The accounts also confirm that since January 1, the company commenced a collective consultation process in relation to a proposed reorganisation of certain of its operations.

The note states that the consultation has concluded and the associated costs are not expected to be material to the company's financial statements but will be recognised in the 2026 accounts.

In May 2025, the Data Protection Commission (DPC) fined TikTok Technology €530m (€476.2m) for breaching data privacy rules in transferring European users’ personal data to China, following a lengthy investigation. In July 2025, the High Court granted permission to TikTok Technology to appeal what the company described as the "penal" fine.

TikTok Technology is subject to investigations by the DPC which is the lead data protection supervisory authority in the European Union. In total, TikTok Technology has set aside a provision of $1.03bn (€930m) to deal with legal proceedings including regulatory investigations and litigation proceedings. 

Three directors served during the year and pay to directors increased from $899,000 to $1.01m (€807,799 to €910,000) made up of $967,000 (€868,900) in emoluments and $48,000 (€43,100) in pension contributions.

The Dublin-based business provides services related to content moderation, data controlling of TikTok in EEA, and sales, marketing and routine support to other TikTok entities.

The accounts were signed off by directors Elaine McGovern and Cormac Keenan on August 14. The company recorded operating losses of $184.2m (€165.5m) in 2025 and interest payments of $19.49m (€17.5m) increased the losses to a pre-tax loss of $203.7m (€183m).

The firm’s operating lease charges reduced from $45.6m (€40.97m) to $23.7m (€21.3m) while non-cash depreciation costs totalled $64m (€57.5m).