Netmarble Corp, developer and publisher of leading mobile games globally, reported $509.38 million in revenue and $46.25 million in EBITDA for the fourth quarter of 2023, an increase from the previous quarter. Overseas sales accounted for 80% ($409.08 million) of total global sales. In 2023, Netmarble cumulatively earned $1.92 billion in revenue, with overseas revenue accounting for $1.59 billion (83% of total revenue).
“Netmarble’s profit growth in Q4 marks a turnaround from previous quarters, which were burdened with unexpected development delays,” said Young-sig Kwon, CEO of Netmarble. “In 2024, Netmarble plans to launch several of its most anticipated titles, focusing on strengthening the company’s performance and global competitiveness.”
New game launches scheduled during the first half of 2024 include Arthdal Chronicles: Three Factions (in Korea and Taiwan), Solo Leveling: ARISE, Raven 2 (in Korea), King Arthur: Legends Rise, and Ni no Kuni: Cross Worlds (in China).
Netmarble’s Q4 financial results are as follows:
- North America led revenues (45%) with diversification across other key territories as follows: Korea (20%), Europe (12%), Southeast Asia (9%), and Japan (6%), and other regions (8%).
- Netmarble’s portfolio showed genre diversification across Casual Games (43%), RPG (38%), MMORPG (9%), and other genres (10%).
- Strong performance of Seven Knights Idle Adventure, which was launched worldwide in September 2023, and a surge in sales for MARVEL Contest of Champions have contributed to the increase in quarterly revenue from the previous quarter, resulting in an operating profit in Q4.
A breakdown of the total financial earnings is below:
| 10/1/23 – 12/31/23 actuals | YoY Changes | QoQ Changes | |
| Total Sales | $509.38 million | -3.2% | +5.4% |
| EBITDA | $46.25 million | +69.2% | +146.5% |
| Operating Profit | $13.50 million | – | – |
| Net Loss | $149.38 million | – | – |
For more information about Netmarble’s quarterly performance and to listen to the earnings call, please visit the company’s Investor Relations page.
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