Netmarble scraped 0.8% revenue growth in 2021 to $2.12 billion

Q4 revenue climbed 20.4% to $656.6 million

Netmarble scraped 0.8% revenue growth in 2021 to $2.12 billion

South Korean mobile games company Netmarble has released its Q4 and full-year financials for the period ending December 31 2021.

For its fourth quarter, the company reported revenues of KRW 751.3 billion ($656.6 million), an increase of 20.4 per cent year-over-year, and a rise of 23.8 per cent over the previous quarter.

Overseas sales accounted for 78 per cent over quarterly revenues, at $513.1 million, an increase of eight per cent over the prior quarter, with North America accounting for 43 per cent of overall revenue.

The firm stated that with its acquisition of SpinX Games in August 2021, overall US revenue increased nine per cent quarter-over-quarter. Additionally, the global launch of Seven Knights 2 also boosted quarterly revenue.

For the quarter, Netmarble’s top performing game was Marvel Contest of Champions, which accounted for 12 per cent of overall revenue, followed by Ni no Kuni: Cross Worlds and Cash Frenzy, at nine per cent and eight per cent respectively.

Strong quarterly growth

For the fiscal year, Netmarble reported a revenue rise of 0.8 per cent, at $2.12 billion, of which overseas sales accounted for 73 per cent at $1.6 billion.

"Our final quarter for 2021 saw notable increases in our overseas sales and EBITDA while operating profit and net profit saw substantial quarter-over-quarter growth thanks to the inclusion of titles from our acquisition of SpinX Games," said Netmarble CEO Kwon Young-Sig.

"We will further solidify our competitiveness in the global market in 2022 with new titles revealed during our recent NTP event and new divisions focused on Metaverse and blockchain."

Looking forward, Netmarble plans to launch several games during the first half of 2022, including Seven Knights Revolution, Ni no Kuni: Cross Worlds Global, Golden Bros, Netmarble Pro Baseball 2022, Merge Kuya Island, and BTS Dream: TinyTan House.

Furthermore, the company plans to begin the rollout of its blockchain games, with the first to come in March 2022. Earlier this week, the firm revealed the presale for its Golden Bros NFTs ahead of the launch of the game.

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