Aug 8, 2025
Quarterly Revenue of Approx. KRW 116.8 Billion, Operating Loss of Approx. KRW 28.5 Billion, Quarterly Net Loss of Approx. KRW 28.3 Billion Total
Driving Performance Improvement with Development of Numerous New Titles as Part of IP & Platform Diversification Strategy
Accelerating Onboarding of High-Quality External Games to Enhance Competitiveness of Blockchain Game Platform WEMIX PLAY
On August 8th, Wemade Co., Ltd. (KOSDAQ: 112040) reported its earnings for the second quarter of fiscal year 2025. The company reported quarterly revenue of approximately KRW 116.8 billion, operating loss of approximately KRW 28.5 billion, and net quarterly loss of approximately KRW 28.3 billion, according to consolidated financial statements based on K-IFRS (Korean International Financial Reporting Standards).
Second quarter revenue fell approximately 18% quarter-on-quarter, and fell 32% year-over-year. Performance from domestic first-quarter releases such as Legend of YMIR and Lost Sword waned, and revenue of live service game also decreased.
The company reported total revenue for the first half of 2025 at approximately KRW 258.7 billion, and operating loss at approximately KRW 39.9 Billion. Continued efforts at improving company financials resulted in a KRW 21.9 billion year-over-year decrease in operating loss for the first half of 2025.
The company expects to see improvements in its yearly performance, as was seen in 2024, with the recognition of revenue from the licensing of The legend of Mir 2 and The legend of Mir 3 in China, as well as the roster of upcoming releases.
With new releases planned in line with an IP & platform diversification strategy, Wemade will be actively promoting the expansion of its revenue streams and improved performance. Ten or more releases are planned for the domestic and global market through next year, including The Midnight Walkers, MIR M for China, and the global version of Legend of YMIR, which is slated for release in the second half of 2025.
And the company is also working on enhancing the competitiveness of the blockchain gaming platform WEMIX PLAY with advanced services, enhanced accessibility, and an expanded revenue model. By more actively pursuing the onboarding of 10 or more high-quality games from external developers, the company seeks steady growth in its platform-derived revenue. The upcoming release ROM: Golden Age surpassed 4 million users in pre-registration, demonstrating high interest in the game before its release on August 12th.
In the second quarter of fiscal year 2025, subsidiary Wemade Max reported a revenue of approximately KRW 33 billion, operating loss of approximately KRW 16.7 billion, and net loss of approximately KRW 15.2 billion. The company will be seeking a rebound in its performance with new releases of different genres in the second half of the year. In July, Wemade Max released Hellsquad Rrrush! and Lost Sword globally.
<Related Material>
■ Wemade Second Quarter 2025 Earnings Summary
* Figures from consolidated financial statements based on K-IFRS [Unit: million, KRW]
Category | Q2’ 25 | Q1’25 | QoQ | Q2’ 24 | YoY |
Revenue | 116,820 | 141,833 | -18% | 171,390 | -32% |
Operating Profit | -28,548 | -11,337 | Sustained loss | -24,140 | Sustained loss |
Quarterly Net Profit | -28,314 | -20,621 | Sustained loss | 443 | Turned to loss |
* The figures given above were each rounded to whole numbers.
** The reported end-of-quarter earnings figures are estimates, and may be subject to change following external audit reviews.