Key insights
6 takeaways · ~2 min read- 01Devsisters achieved a full-year 2025 operating profit of KRW 6.2 billion and a net profit of KRW 15.4 billion, marking a successful turnaround despite a Q4 operating loss of KRW 12.6 billion.See it on page 7
- 02Full-year sales grew 17.1% year-over-year to KRW 294.7 billion, fueled by the core title CookieRun: Kingdom and the North American launch of the CookieRun Card Game.See it on page 8
- 03The company is aggressively shifting toward international markets, evidenced by a 31.5% year-over-year increase in overseas sales to KRW 37.5 billion, contrasted by a 14.4% contraction in domestic revenue.See it on page 9
- 04Non-gaming revenue streams are diversifying rapidly, with merchandise and royalty income surging 130.9% year-over-year.See it on page 8
- 05Q4 losses were primarily driven by a 210.5% year-over-year spike in advertising expenses and increased service fees related to the 5th-anniversary update for CookieRun: Kingdom.See it on page 7
- 06Total operating costs rose 44.2% year-over-year, with labor costs contributing a more modest 10.1% increase to the overall expenditure.See it on page 9
Summary
The release presents Devsisters’ consolidated operating results for FY 2025, focusing on the Q4 quarter and full‑year performance. Sales rose 17.1 % year‑over‑year to KRW 294.7 billion, driven primarily by the core title CookieRun: Kingdom and the North American launch of the CookieRun Card Game, which expanded non‑gaming revenue streams. Operating profit turned positive at KRW 6.2 billion, while net profit reached KRW 15.4 billion, reflecting a 24.8 % sales growth and improved profitability despite higher marketing spend.
Quarterly figures show Q4 sales of KRW 58.7 billion, a 7.1 % QoQ increase, yet operating and net losses of KRW 12.6 billion and KRW 6.8 billion respectively, attributed to elevated advertising and service fees associated with the upcoming 5th‑anniversary update of CookieRun: Kingdom. Marketing expenses surged, but management expects the update to generate sustainable revenue and reverse the loss trend.
Geographically, overseas sales grew 31.5 % YoY to KRW 37.5 billion, while domestic sales contracted 14.4 % to KRW 16.9 billion, indicating a shift toward international markets. Merchandise and royalty income expanded 130.9 % YoY, underscoring diversification beyond core game sales.
Cost analysis reveals operating costs increased 44.2 % YoY, driven largely by advertising (210.5 % rise) and service fees (26.6 %). Labor costs grew 10.1 %, while other operating expenses remained relatively stable.
The financial statements, prepared under Korean IFRS and not yet audited, provide a comprehensive view of Devsisters’ fiscal health, highlighting growth in sales and profitability at the expense of short‑term losses linked to strategic marketing investments.
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