LOS ANGELES – August 15, 2023 – Netmarble Corp, a leading developer and publisher of mobile games, reported $465.98 million in revenue and $8.38 million in EBITDA in the second quarter of 2023. Overseas sales accounted for 86% ($400.92 million) of total global sales.
”We’ve been seeing sustained growth from games like Tower of God: New World, which reached the top 5 revenue charts in the Korean App Store and Google Play Store, and a game based on Netmarble’s Stone Age IP, which is maintaining a top rank in the Chinese App Store,” said Young-sig Kwon, CEO of Netmarble. “We look forward to launching new titles in the second half of the year, such as Arthdal Chronicles and Solo Leveling: ARISE, despite performance being affected by an absence of new games and revenue decrease of existing titles in the first half.”
Following the global launch of the new 4X strategy game GRAND CROSS: AGE OF TITANS on August 9, Netmarble will release six more new global titles within the second half of the year such as Seven Knights Idle Adventure, King Arthur: Legends Rise, Arthdal Chronicles (tentative name), Solo Leveling: ARISE, Paragon: The Overprime, and Meta World: My City (launching in Korea). Netmarble also plans to launch three titles in China including Ni no Nuni: Cross Worlds, The Seven Deadly Sins, and A3: Still Alive.
Netmarble’s Q2 and H1 2023 financial results include:
- During the first half of 2023, Netmarble earned $931.41 million in sales and $23.89 million in EBITDA. The company reported an operating loss of $50.53 million and net loss of $69.41 million.
- North America led revenues (52%) with diversification across other key territories as follows: Korea (14%), Europe (12%), Southeast Asia (10%), and Japan (6%), and other regions (6%).
- Netmarble’s portfolio showed genre diversification across Casual Games (48%), RPG (30%), MMORPG (13%), and other genres (9%).
- Top performing titles for the second quarter included: MARVEL Contest of Champions (12%) (Kabam), Jackpot World (10%), Cash Frenzy (9%), Lotsa Slots (8%), The Seven Deadly Sins: Grand Cross (6%). All other games contributed to 55% of the company’s earned revenue.
A breakdown of the total financial earnings is below:
4/1/’23 - 6/30/’23 actuals YoY Changes QoQ Changes
Total Sales $465.98 million -8.7% +0.1%
EBITDA $8.38 million -49.8% -46.3%
Operating Loss $28.76 million - -
Net Loss $34.04 million - -
For details on Netmarble’s quarterly performance and to listen to the earnings call, please visit the company’s Investor Relations page.
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About Netmarble Corporation
Established in Korea in 2000, Netmarble Corporation is a leading developer and publisher of top-grossing mobile games worldwide. Through powerful franchises and collaborations with acclaimed IP holders, Netmarble strives to elevate the gaming experience and entertain audiences globally. As a parent company of Kabam and SpinX Games, and a major shareholder of Jam City and HYBE (formerly Big Hit Entertainment), Netmarble’s diverse portfolio includes Lineage 2: Revolution, MARVEL Future Fight, Ni no Kuni: Cross Worlds, The King of Fighters ALLSTAR, The Seven Deadly Sins: Grand Cross, and forthcoming PC games like Paragon: The Overprime. More information can be found at http://company.netmarble.com.
Media Contacts:
Netmarble HQ Global PR (Korea)
Ryan Lee
hlee2033@netmarble.com
Netmarble US Global PR
Jennifer Reiss
jreiss@kabam.com
R&CPMK (for Netmarble US)
netmarble@rcpmk.com