Wemade Reports 37.6 Billion KRW Operating Loss in 1Q... Reduced Deficit

Wemade announced on the 7th that it recorded consolidated sales of 161.3 billion KRW and an operating loss of 37.6 billion KRW in the first quarter of this year. Sales increased by 72% compared to the same period last year, and the operating loss decreased by about 9.2 billion KRW. The net loss for the period was recorded at 59 billion KRW.

Overseas sales surged approximately 334% compared to the previous quarter. The company explained that the global release of "Night Crow Global" in 170 countries last March drove the sales. Night Crow Global achieved sales of 10 million USD within just three days of its launch and recorded a peak concurrent user count exceeding 400,000, demonstrating strong performance across various metrics.

This year, Wemade plans to focus on strengthening market competitiveness by solidifying its internal foundation through business optimization and building a robust corporate structure.

Specifically, the company will concentrate on the stable service of the global version of "Night Crow" and the development of the next title "Legend of Imir" in the second half of the year, while accelerating business initiatives based on the blockchain mainnet WEMIX 3.0.

Wemade is scheduled to disclose detailed first-quarter business results and future plans through an earnings announcement on the morning of the 8th.

Meanwhile, its subsidiary Wemade Max recorded sales of 17.3 billion KRW, an operating loss of 1.4 billion KRW, and a net loss of 100 million KRW in the first quarter. Wemade Max is currently developing more than 10 new mobile games across genres such as MMORPG, subculture, idle RPG, and casual games. The company plans to actively pursue differentiated IP and growth engines through a genre diversification business strategy this year.