LOS ANGELES – NOVEMBER 18, 2022 – Netmarble Corp, a leading developer and publisher of mobile games, reported $547.50 million in revenue and $16.42 million in EBITDA for the third quarter of 2022. Overseas sales accounted for 83% ($456.86 million) of total global sales, and the company reported an operating loss of $30 million, with a net loss of $218.75 million.
“For three consecutive quarters, we’ve been balancing increased costs and rising exchange rates, with delays in new game launches and underperformance of select titles, such as Seven Knights Revolution,” said Young-sig Kown, CEO of Netmarble. “We’re optimistic we can drive improved results and strengthen Netmarble’s competitive edge with the THE KING OF FIGHTERS ARENA and Charlotte’s Table launches in Q4 and participation in global game shows, beginning with Korea’s G-STAR in November, where we will preview an array of upcoming titles, including Solo Leveling: Arise and Arthdal Chronicles, as well as anticipated PC titles Paragon: The Overprime and HypeSquad.”
Netmarble’s Q3 and accumulated 2022 results include:
- Between the first and third quarters, Netmarble earned an accumulated $1.57 billion in sales and $69.38 million in EBITDA. The company reported a total net loss of $66.71 million.
- North America led revenues (48%) with diversification across other key territories as follows: Korea (17%), Europe (13%), Southeast Asia (9%), Japan (7%), and other regions (6%).
- Netmarble’s portfolio showed genre diversification across Casual Games (47% of revenue generated), RPGs (24%), MMORPGs (21%) and other genres (8%).
- Top performing titles for the third quarter included: MARVEL Contest of Champions (11%), Ni no Kuni: Cross Worlds (8%), Cash Frenzy (8%), Jackpot World (8%), Lotsa Slots (8%) and The Seven Deadly Sins: Grand Cross (6%). All other games contributed to 51% of the company’s earned revenue.
A breakdown of the total financial earnings is below:
7/1/22 - 9/30/22 actuals YoY Changes QoQ Changes
Total Sales $547.50 million +14.4% +5.1%
EBITDA $16.42 million -64.4% -3.3%
Operating Loss $30.00 million - -
Net Loss $218.75 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 top developer and publisher pushing the boundaries of the mobile gaming experience with highly innovative games including Seven Knights 2, Ni no Kuni: Cross Worlds, MARVEL Future Revolution, Lineage 2: Revolution, The Seven Deadly Sins: Grand Cross, Blade & Soul Revolution and MARVEL Future Fight. As a parent company of Kabam and SpinX Games, and a major shareholder of Jam City and HYBE (formerly Big Hit Entertainment), Netmarble strives to entertain audiences around the world with a variety of mobile games based on its powerful franchises and collaborations with IP holders worldwide. More information can be found at http://company.netmarble.com