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NETMARBLE RELEASES FINANCIAL EARNINGS FOR THIRD QUARTER OF 2023
Financial earnings totalling nearly $500 million announced, celebrated.
November 14, 2023
3 Min Read
[This unedited press release is made available courtesy of Game Developer and its partnership with notable game PR-related resource Games Press]
Netmarble |
LOS ANGELES – November 13, 2023 – Netmarble Corp, a leading developer and publisher of mobile games, reported $484.99 million in revenue and $18.79 million in EBITDA for the third quarter of 2023, an increase from the previous quarter. Overseas sales accounted for 83% ($400.42 million) of total global sales.
“Netmarble recorded strong performance in the third quarter, with recently launched titles Seven Knights Idle Adventure and Tower of God: New World demonstrating remarkable achievements,” said Young-sig Kwon, CEO of Netmarble. “We’re expecting this momentum to carry into the end of the year, and we’re also anticipating a further boost in performance in 2024, as we prepare to launch six new titles during the first half of the year.”
These new launches include Arthdal Chronicles: Three Factions, Solo Leveling: ARISE, Paragon: The Overprime, Raven 2, and King Arthur: Legend Rises, as well as the launch of Meta World: My City in Korea. Ni no Kuni: Cross Worlds will also be launched in China. Netmarble will also showcase several upcoming titles at Korea’s annual G-STAR 2023 convention, starting November 16 in Busan, Korea, including The Seven Deadly Sins: Origin, RF ONLINE NEXT, and DEMIS RE:BORN.
Netmarble’s Q3 financial results are as follows:
Cumulatively for 2023, Netmarble earned $1.41 billion in sales and $42.58 million in EBITDA. The company reported an operating loss of $67.15 million.
North America led revenues (47%) with diversification across other key territories as follows: Korea (17%), Europe (12%), Southeast Asia (10%), and Japan (6%), and other regions (8%).
Netmarble’s portfolio showed genre diversification across Casual Games (44%), RPG (35%), MMORPG (10%), and other genres (11%).
Top performing titles for the third quarter included: MARVEL Contest of Champions (10%) (Kabam), Jackpot World (9%), Cash Frenzy (8%), Lotsa Slots (8%), Seven Knights Idle Adventure (5%), Tower of God: New World (5%), and The Seven Deadly Sins: GRAND CROSS (5%).
A breakdown of the total financial earnings is below:
7/1/23 - 9/30/23 actuals YoY Changes QoQ Changes
Total Sales $484.99 million -9.2% +4.5%
EBITDA $18.79 million +17.8% +126.9%
Operating Loss $16.83 million - -
Net Loss $21.89 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.
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