Com2Us escaped the red in 2023 despite "negative seasonality"

Com2Us’ financial report reveals a difficult Q4 but overall successful 2023

Com2Us escaped the red in 2023 despite "negative seasonality"

Korean developer and publisher Com2Us turned a profit in 2023, moving out of the red and earning ₩4.4 billion ($3.3 million) in net profit. This turn to surplus was achieved after 2022’s deficit of -₩9.3 billion (-$7 million), and came despite a continued year-on-year deficit in operating profit.

Though its net profit result gives Com2Us cause to celebrate, the company can’t rest on its laurels just yet; after all, the fourth quarter saw a 19.5% decline in consolidated revenue attributed to "negative seasonality", as per the company’s latest financials. Consolidated profits were down too, continuing a year-on-year trend for Q4.

Partial improvement

Com2Us’ operating losses were ₩17.6 billion ($13.2 million) in Q4 due to "one-time losses in media business", rather than a gaming shortfall; in fact, Com2Us’ games catalogue generated ₩126.4 billion ($98.9 million) in the quarter, accounting for 77% of the company’s ₩164.5 billion ($123.4 million) in total earnings. This also meant Q4 gaming sales only fell by 3% year-on-year, versus a 48.5% fall from wider media.

And looking at 2023 as a whole, Com2Us did indeed turn to surplus, making a profit thanks in part to a 13.5% YoY rise in games sales. Games generated ₩562 billion ($421.6 million) for Com2Us in 2023, marking a substantial climb from the ₩495 billion ($371 million) earned in the 2022 fiscal year.

The casual game genre saw the biggest surge in profitability in 2023, with Minigame Party: Pocket Edition, increasing the genre’s earnings by a massive 95.3% year-on-year. Com2Us’ sports game earnings rose too, up 31.2%.

Meanwhile, RPGs saw a 16.6% decline in 2023, peaking in Q2 at ₩116.4 billion ($87 million) and falling as low as ₩73.6 billion ($55 million) in Q4, quite contrary to the genre’s trend in consumer spending industry-wide.

A bigger slice

Com2Us’ proportion of game sales within Korea marginally increased, up 0.2% year-on-year, but the overseas market continued to contribute the bulk of the dev’s earnings; 68.5% of game revenues came from abroad with ₩86.6 billion ($65 million) generated last year, which was in fact a 3.4% decline. Com2Us attributed this to the fall in RPG sales.

Even so, Com2Us’ biggest RPG Summoners War: Sky Arena is still going strong as it approaches its 10th anniversary with over 200 million downloads and ₩3.2 trillion ($2.4 billion) in earnings, making it the top RPG by sales in 162 regions.

As for what 2024 may hold, Com2Us soft-launched Frostpunk: Beyond the Ice last month and intends to take it global - China excluded - in the second half of the year. The current exclusion comes as little surprise given China’s approval process, ever-changing and complex to navigate.

News Editor

Aaron is the News Editor at and has an honours degree in Creative Writing.
Having spent far too many hours playing Pokémon, he's now on a quest to be the very best like no one ever putting words in the right order.