Wemade announced on the 12th that its consolidated revenue for the second quarter of this year was 108.3 billion won, a 7.3% decrease compared to the same period last year. The operating loss was 21 billion won, a 26.6% reduction from the same period. Net profit turned positive at 3.5 billion won, marking a shift from the previous year's loss.
Notably, second-quarter revenue fell 29.4% compared to the previous quarter due to the exclusion of one-time license revenue resulting from the conclusion of an intellectual property (IP) royalty dispute over "Mir's Legend 2." The operating loss improved by 68.7% year-on-year thanks to cost-cutting measures in areas such as labor expenses and advertising.
Cumulative revenue for the first half reached 261.6 billion won, a 1.1% increase compared to the same period last year. The operating loss was reduced to 12.5 billion won, a 68.7% decrease from the same period last year, thanks to efforts in cost efficiency. Net profit turned positive at 23.4 billion won, marking a shift from the previous year's loss.
Wemade plans to rebound its performance with the launch of new titles. In June, Wemade confirmed that the name of a new title utilizing the "Night Crows" IP would be "Night Crows W," and announced a simultaneous global release. In the same month, the original "Night Crows" acquired an overseas license for entry into the Chinese market.
in TECH
