Russian internet firm VK reported a net loss of 94.9 billion roubles ($1.13 billion) for 2024, nearly tripling from a loss of 34.3 billion roubles in 2023. The company's revenue increased by 23% year-over-year, reaching 147.6 billion roubles. Following the announcement of these results, VK shares fell more than 6% on the Moscow Stock Exchange. In response to its financial challenges, VK plans to raise up to 115 billion roubles ($1.36 billion) through an additional share issue aimed at reducing its debt burden. The negative adjusted EBITDA for 2024 was reported at -4.9 billion roubles. Additionally, VK did not exercise an option to acquire its parent company, Skillbox, as the deadline expired in 2024.