Wemade Play Reports 121.7 Billion KRW in Revenue Last Year... Operating Loss of 800 Million KRW

Wemade Play announced on the 5th that its consolidated revenue for last year recorded 121.7 billion KRW, a decrease of 12.4 billion KRW compared to the same period the previous year. Additionally, operating loss was 800 million KRW, and net profit was 6.1 billion KRW.

Revenue for the fourth quarter of last year was 31.3 billion KRW, down 3% from the same period the previous year. Operating loss was 300 million KRW, and net profit was 4 billion KRW. Wemade Play stated, "the annual and quarterly revenue decline was due to the absence of new titles, and the operating loss was attributed to increased investments such as the establishment and operation of a development subsidiary and AI development. The increase in net profit was analyzed to reflect equity method gains and financial income." They added, "This year, through our own studio and subsidiaries, we plan to launch the largest-ever number of global new titles, with five in the first half and two in the second half."

Min Kwang-sik, Head of Management at Wemade Play, said, "Last year, we focused on expanding and investing in game and AI development organizations to add competitiveness to the popularity of the casual genre." He continued, "Starting from the first half of this year, when we expand and operate our own development and service supply chain, including the expansion of the Anipang intellectual property (IP) and the establishment of the K-Puzzle lineup, results will become visible."