Key insights
7 takeaways · ~3 min read- 01DevSisters reported a 23.8% year-over-year decline in Q3 2025 sales to KRW 54.9 billion, alongside an operating loss of KRW 0.7 billion.See it on page 8
- 02Quarter-over-quarter performance saw a 44.8% drop in core game sales, with domestic revenue falling 34.8% and overseas revenue declining 47.8%.See it on page 8
- 03Non-game revenue streams, including merchandise and royalties, surged 82.3% quarter-over-quarter, partially offsetting the decline in core gaming performance.See it on page 8
- 04The company implemented significant cost-cutting measures, reducing advertising spend by 62.3%, service fees by 38.2%, and total operating costs by 32.1% compared to Q2 2025.See it on page 8
- 05The North American launch of the 'CookieRun: Braverse Card Game' has emerged as a key growth driver for non-game revenue.See it on page 11
- 06Despite the quarterly operating loss, the company’s financial position strengthened with total assets rising to KRW 322.3 billion and equity increasing to KRW 180.4 billion.See it on page 14
- 07Management anticipates a Q4 rebound driven by upcoming seasonal events and major live-service updates for flagship titles.See it on page 7
Summary
DevSisters reported Q3 FY2025 results showing a 23.8 % year‑over‑year decline in sales to KRW 54.9 billion, driven largely by a temporary dip during the live‑service update cycle of its flagship titles. Operating loss of KRW 0.7 billion and net profit of KRW 1.6 billion were recorded, with a 40.3 % quarter‑on‑quarter drop in sales and an 84.1 % decline in net profit compared to Q2 FY2025. Game sales fell 44.8 % QoQ, with domestic revenue shrinking 34.8 % and overseas sales dropping 47.8 %. Merchandise, royalty, and other sales surged 82.3 % QoQ, offsetting some of the decline in core game revenue.
Cost reductions were evident: operating costs fell 32.1 % QoQ, labor costs decreased 7.9 %, and advertising spend dropped 62.3 %. Service fees also fell 38.2 % QoQ, while other costs rose modestly. The company attributes the operating loss to the temporary sales dip and anticipates a rebound in Q4 with major live‑service updates and seasonal events. A new revenue stream was highlighted: the North American launch of CookieRun: Braverse Card Game, which has already driven strong non‑game sales growth.
Financial position improved with total assets rising to KRW 322.3 billion and equity increasing to KRW 180.4 billion, supported by higher cash balances and reduced current liabilities. The company plans to invest internally and externally in new projects and IP acquisitions to sustain long‑term growth.
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