Netmarble, the South Korean mobile developer of Marvel Future Revolution, Lineage 2: Revolution and more, has released its financial earnings for the second quarter of 2022, revealing the firm earned $535.95 million in revenue, a 14.4 per cent increase year-over-year.
The financials further reported that Netmarble earned $17.46 million in its earnings before interest, taxes, depreciation, andamortisation (EBITDA), which was a 48.6 per cent decrease year-over-year, saw an operating loss of $28.09 million, and a net loss of $97.77 million.
Top performing titles for the second quarter, which made up 50 per cent of the firm's revenue, were Ni no Kuni: Cross Worlds (10%), MARVEL Contest of Champions (10%) (Kabam), Cash Frenzy (8%), Jackpot World (8%), Lotsa Slots (8%), and The Seven Deadly Sins: Grand Cross (7%). All other games contributed to 49% of the company’s earned revenue.
Casual games are strengthening their dominance in the mobile games industry, generating 47 per cent of Netmarble's revenue. Meanwhile, RPGs generated 22 per cent, MMORPGs generated 22 per cent, and other genres generated 9 per cent.
“Releases late in the second quarter led to some of our new titles such as Ni no Kuni: Cross World and Merge Kuya Island having limited financial impact in the first half of 2022,” said Netmarble CEO, Young-sig Kwon.
The company that received an A in Morgan Stanley Capital International (MSCI) environmental, social, and governance evaluation (ESG) will aim to improve its performance in the third quarter of the year. This financial report showed similar results to Netmarble's previous Q1 2022 financials, where the company's EBITDA was down by 43 per cent year-over-year.
Netmarble CEO said, “We expect to see increased performance in the third quarter, including the successful July launch of Seven Knights Revolution in South Korea, along with a variety of new titles slated for the second half of the year, including Overprime (early access), BTS Dream: TinyTAN House, and Charlotte's Table, as well as blockchain games Let's Get Rich: Meta World, King of Fighters ARENA and Monster Arena Ultimate Battle.”
We will be keeping a close eye on Netmarble. The South Korean mobile giants came in 35th place in our recently released top 50 mobile game makers of 2022.
