Netmarble CEO cites slowed growth in Q3 2024 as revenue hits $478.6 million

Netmarble's Q3 revenue stood at $478.6 million with an operating profit of $48.43 million and a net profit of $15.22 million. 

This comes from the company's Q3 2024 financials which shows that for year-to-date, the company achieved $1.49 billion in sales and $219.26 million in EBITDA, with an operating profit of $133.38 million and net profit of $127.91 million. 

North America leads in revenue (43%), followed by Korea (23%), Europe (13%), Southeast Asia (8%), Japan (7%), and other regions (6%). 

“Netmarble has slowed down in its growth, including revenue and operating income, in the third quarter due to the absence of major new releases,” said Netmarble CEO Young-sig Kwon. 

Revenue generators and upcoming titles 

Netmarble's top revenue-generating games in Q3 included Solo Levelling: ARISE (13%), Marvel Contest of Champions (8%), and Jackpot World (8%). Other strong performers were Lotsa Slots (7%), Cash Frenzy (7%), and Raven 2 (6%). 

For the second half of 2024, Netmarble plans to launch King Arthur: Legends Rise and expand Raven 2 into Taiwan, Hong Kong, and Macao. 

In 2025, nine new titles are set to release for mobile and PC including Game of Thrones: Kingsroad, The Seven Deadly Sins: Origin, MONGIL: STAR DIVE and Demi's Re:Born. Kingsroad and STAR DIVE will be showcased at G-Star 2024.

“We are expecting an increase in momentum as we launch King Arthur: Legends Rise by the end of this year, with nine new titles, including highly anticipated games like The Seven Deadly Sins: Origin, to be released in 2025. More information on our upcoming releases will be shared soon," the company wrote.