Key insights
7 takeaways · ~3 min read- 01Devsisters achieved a strong FY2024 performance with KRW 236.2 billion in sales, a 46.6% year-over-year increase, and an operating profit of KRW 27.2 billion, up 54% from the prior year.See it on page 3
- 02The company successfully transitioned from a loss in Q4 2023 to profitability in Q4 2024, reporting an operating income of KRW 723 million and a net income of KRW 3.9 billion.See it on page 3
- 03Growth was primarily driven by the CookieRun franchise, specifically the expansion of 'CookieRun: Kingdom' into India and Japan and the launches of 'CookieRun: Tower of Adventures' and 'CookieRun: Braverse'.See it on page 4
- 04Operating margins improved by 19% to reach 11.5% for the fiscal year, supported by cost-efficiency initiatives that saw labor and service fees decrease by 22.1% and 23.1% respectively.See it on page 5
- 05While Q4 2024 sales grew 32.6% year-over-year, they experienced a 30.3% quarter-over-quarter decline attributed to seasonal variations.See it on page 5
- 06Aggressive marketing investment was a key strategy in Q4 2024, with advertising costs increasing by 71.2% year-over-year.See it on page 5
- 07The company's financial position strengthened by the end of FY2024, with total assets rising to KRW 267.7 billion and equity increasing to KRW 159.6 billion due to higher cash reserves and reduced liabilities.See it on page 10
Summary
The release presents Devsisters’ consolidated financial performance for FY2024 and Q4 FY2024, highlighting a 46.6 % year‑over‑year sales increase to KRW 236.2 billion and an operating profit of KRW 27.2 billion, up 54 % from the prior year. Net profit rose to KRW 34.1 billion, reflecting a 19 % improvement in operating margin to 11.5 %. Q4 FY2024 sales of KRW 50.2 billion were driven primarily by the “CookieRun: Kingdom” franchise, which expanded into new markets such as India and Japan, and by the launch of “CookieRun: Tower of Adventures” and “CookieRun: Braverse.” The company reports a 32.6 % YoY growth in Q4 sales, though the quarter experienced a 30.3 % QoQ decline due to seasonal variations.
Cost analysis shows operating expenses of KRW 49.4 billion in Q4, with labor and service fees decreasing YoY by 22.1 % and 23.1 %, respectively, while advertising costs increased 71.2 %. Operating income swung from a loss of KRW 11.8 billion in Q4 FY2023 to a modest profit of KRW 723 million in Q4 FY2024, and net income improved from a loss of KRW 16.6 billion to a profit of KRW 3.9 billion.
The company’s balance sheet strengthened, with total assets rising to KRW 267.7 billion and equity increasing to KRW 159.6 billion, supported by higher cash reserves and reduced liabilities. Devsisters attributes growth to strategic content updates, regional expansion, and cost‑efficiency initiatives, positioning the firm for continued profitability in FY2025.
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