Neowiz announced its performance for the third quarter of 2022. Sales in the third quarter of this year recorded 74.9 billion won. This is a 22% growth compared to the same period last year. During the same period, operating profit and net profit were KRW 5.2 billion and KRW 8.1 billion, respectively, turning into surplus and decreasing by 6% compared to the same period last year.
Mobile game sector sales were KRW 36.4 billion, an increase of 14% compared to the same period last year. Healing mobile idle game ‘Cat and Soup’ celebrated its first anniversary by holding commemorative events and large-scale content updates, achieving the highest quarterly sales. ‘Brown Dust & Puzzle’, which utilizes the ‘Brown Dust’ IP (intellectual property rights) released in July of this year, also contributed to sales.
Sales in the PC/console game division were KRW 32.4 billion, up 13% from the previous year. Thanks to the effects of the launch of ‘AVA’ on Steam and the relaxation of web board game regulations, sales showed stable growth, and the rhythm game ‘DJ Max Respect V’ was also released on Xbox and Game Pass, increasing sales. It has been diversified.
Other sales decreased slightly compared to the previous quarter due to the influence of market conditions in mobile advertising sales of subsidiary T&K Factory.
Neowiz plans to continue to provide the best game services to domestic and foreign game users by diversifying game genres and expanding platforms. In particular, we plan to focus on new self-developed games and more actively attempt game development using IP.
First, new works in various genres will be introduced sequentially in the fourth quarter of 2023. The turn-based strategy simulation role-playing game (SRPG) ‘Master of Knights’, which will be available from November 24th, the visual novel RPG ‘Browndust Story’, and the casual healing adventure game ‘Aka’, which are scheduled for release in the fourth quarter, are also in the final stages of work. .
In 2023, ‘The Lie of P’, which proved its potential for global box office success by becoming the first Korean game company to win three awards at ‘Gamescom 2022’, will be released. With its simultaneous global launch next summer, significant growth in performance is expected. ‘Oh My Ann’, which received favorable reviews after the release of its trailer, ‘Sannabi’, which received ‘overwhelmingly positive (97%)’ reviews after the release of Steam Early Access, and ‘Brown Dust 2’, which received a lot of attention after the opening of the teaser site. We are accelerating sales expansion with our new lineup of products. In addition, we are preparing next works using IP, such as a puzzle game based on the ‘Cat and Soup’ IP and a mobile RPG using a famous Japanese IP.
Meanwhile, Neowiz is also speeding up the development of its own Web3 blockchain game platform, ‘Intella X’. We are focusing our efforts on completing a user-friendly Intella X by building Intella
In addition, we plan to onboard various blockchain games such as two games using the ‘Cat and Soup’ IP, ‘AVA’, and ‘Eos Red’. Furthermore, in order to discover new business opportunities in the Web 3 market, we plan to actively enter into partnerships, collaborate, and make strategic investments with blockchain specialized companies.
Source: Pangyo Techno Valley Official Newsroom
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