Wemade Reports Operating Profit of 51.8 Billion KRW in Q3... "Improved Sales Performance from Mir IP Licensing"

Wemade announced on the 5th that its consolidated operating profit for the third quarter of this year was preliminarily estimated at 51.8 billion KRW, a 14% increase compared to the same period last year.

During the same period, sales decreased by 9% to 214.4 billion KRW. Net profit for the period fell by 5% to 35.9 billion KRW.

Compared to the previous quarter, sales increased by 25%, and operating profit turned positive. Wemade stated that the improvement in performance was driven by license sales of intellectual property (IP) related to Mir. Additionally, Wemade is currently developing the massively multiplayer online role-playing game (MMORPG) "Legend of Mir," which reflects Nordic mythology. Various information about Legend of Mir is being released sequentially.

Recently, the blockchain game platform "Wemix Play" was reorganized to be community-centered. In addition to enhancing functionality such as supporting active communication among users, various measures are being prepared to lead to an increase in Wemix's value and the expansion of its ecosystem in the future.

Meanwhile, the subsidiary Wemade Max recorded sales of 19 billion KRW and an operating loss of 2.1 billion KRW in the third quarter. Net loss for the period was 4.8 billion KRW.