South Korean mobile game developer Netmarble Corp. reported a fourth-quarter net loss after taking a significant impairment charge on intangible assets, overshadowing modest revenue growth driven by its overseas operations.
The Seoul-based company posted a net loss of 166.7 billion won (US$125 million) in the quarter ended December, compared with a 186 billion won loss a year earlier. Revenue edged up 0.3% quarter-on-quarter to 649 billion won, while operating profit fell to 35.2 billion won from 66 billion won in the previous quarter.
The company’s overseas markets continued to expand, now representing 83% of total revenue, with North America leading at 46%. Marvel Contest of Champions remained the top revenue generator at 13% of sales, followed by casual gaming titles Jackpot World and Lotsa Slots at 8% each.
Marketing expenses jumped 15.2% from the previous quarter to 120.5 billion won as the company promoted new game launches. Despite cost-cutting efforts, including workforce reductions that trimmed labor costs by 0.2%, EBITDA margin contracted to 11.3% from 15.9% in the third quarter.
Looking ahead, Netmarble plans to release nine new titles in 2025, including RF Online Next in March and licensed properties like Game of Thrones: Kingsroad and The Seven Deadly Sins: Origin. The company’s shift toward global markets comes as it faces increasing competition in its home market.
