May 10, 2024 – Netmarble Corp, developer and publisher of leading mobile games globally, reported $440.86 million in revenue and $32.18 million in EBITDA for the first quarter of 2024, a decrease from the previous quarter. The company recorded operating profit of $2.78 million this quarter, resulting in a surplus for two consecutive quarters. Overseas sales accounted for 83% ($365.26 million) of total global sales.
“Netmarble achieved operating profit in the first quarter through continuous efforts to streamline costs, despite the absence of newly launched titles,” said Young-sig Kwon, CEO of Netmarble. “Arthdal Chronicles: Three Factions, which was launched in late April in Korea and Taiwan, and the recently unveiled Solo Leveling: ARISE have both shown promising results in their initial stages. Netmarble is also set to release Raven 2 in Korea in late May, along with launching four new titles later this year. We will focus all of our capabilities on restoring Netmarble’s global competitiveness in the gaming business this year.”
Upcoming video game launches scheduled for 2024 include The Seven Deadly Sins: IDLE Adventure, King Arthur: Legends Rise, RF ONLINE NEXT (in Korea), and DEMIS RE:BORN.
Netmarble’s Q1 financial results are as follows:
- North America led revenues (48%) with diversification across other key territories as follows: Korea (17%), Europe (13%), Southeast Asia (9%), and Japan (6%), and other regions (7%).
- Netmarble’s portfolio showed genre diversification across Casual Games (47%), RPG (33%), MMORPG (9%), and other genres (11%).
A breakdown of the total financial earnings is below:
| 1/1/24 - 3/31/24 actuals | YoY Changes | QoQ Changes | |
| Total Sales | $440.86 million | -2.9% | -12.0% |
| EBITDA | $32.18 million | 112.4% | -30.6% |
| Operating Profit | $2.78 million | - | - |
| Net Loss | $7.43 million | - | - |
For details on Netmarble’s quarterly performance and to listen to the earnings call, please visit the company’s Investor Relations page.
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, and The Seven Deadly Sins: Grand Cross. More information can be found at http://company.netmarble.com.
