Netmarble ends 2022 with net loss of $714 million, with Marvel Contest of Champions still its top-grossing game

Netmarble has joined other game companies struggling with declining financials. The South Korean mobile developer and publisher has ended the last year with huge net losses despite a modest increase in revenue.

Netmbarble's financial report for FY 2022 (net loss of $714 million)

  • Netmarble’s revenue reached ₩2.67 trillion ($2.1 billion) in 2022, up 6.6% year-over-year. Overseas markets accounted for 84% of this sum.
  • EBITDA (earnings before interest, taxes, depreciation and amortization) fell 57.6% year-over-year to ₩127.8 billion ($100.8 million).

Netmarble’s revenue and EBITDA (2020-2022)

  • The company’s net loss was ₩906 billion ($714.8 million), which is a huge decline compared to its 2021 net profit of ₩249 billion ($196.4 million).
  • According to Netmarble, such losses were caused by the “impairment losses of the intangible assets,” although it is unclear what assets the publisher meant by it.
  • In the fourth quarter, casual games accounted for 48% of Netmarble’s total revenue, followed by RPGs (27%) and MM≠≠ORPGs (16%).

Netmarble’s revenue breakdown by genres

  • Marvel Contest of Champions was the company’s highest-grossing game in the fourth quarter, accounting for 13% of total revenue. It is followed by Jackpot World (9%), Cash Frenzy (8%), Lotsa Slots (8%), The Seven Deadly Sins: Grand Cross (7%), and Ni no Kuni: Cross Worlds (5%).
Write a comment...
Related news