Messaging application Telegram's revenues surpassed $1 billion in 2024, the chief executive officer (CEO) of the firm said on Monday.

"We are closing the year with more than $500 million in cash reserves, not including crypto assets," Pavel Durov said on Telegram.

"As I predicted, 2024 turned out to be a very good year for Telegram," he said.

Durov added that for the first time in its three-year history of monetization, Telegram became profitable now.

In 2024, the number of Telegram premium subscribers tripled, exceeding 12 million, he said.

"Over the past four years, Telegram has issued about $2 billion in debt,” Durov said, adding: "We repaid a meaningful share of it this Fall, taking advantage of favorable prices for the Telegram bonds. But there’s a lot of work ahead."