Com2uS 4Q24 and FY2024 Financial Results

Key insights

7 takeaways

01
Consolidated 2024 revenue fell 6.3% year on year to 692.7 bn KRW, while consolidated operating profit turned to a 6.6 bn KRW surplus.See it on page 3
02
Consolidated net profit for 2024 was a deficit of 131.8 bn KRW, which the company describes as a turn to deficit.See it on page 3
03
Fourth-quarter 2024 consolidated revenue was 189.1 bn KRW, up 17.9% year on year, with a net loss of 137.3 bn KRW.See it on page 3
04
The document attributes the 4Q24 net loss to a one-time impairment loss on intangible assets.See it on page 12
05
Overseas sales accounted for 68.4% of the game business's FY2024 sales, down 5.7 percentage points year on year.See it on page 7
06
Baseball game revenue achieved over 30% annual growth for the second consecutive year, according to the document.See it on page 6
07
Parent-company standalone 2024 operating profit rose 17.9% year on year to 24.2 bn KRW on revenue of 557.3 bn KRW.See it on page 4

Summary

Com2uS published its consolidated earnings results based on K-IFRS for the fourth quarter and full year 2024. The document notes that the figures are provided before the external audit of Q4 2024 is completed and may change. It covers quarterly and annual revenue, operating profit, net profit, parent-company standalone results, operating cost breakdowns, sales by genre and region, game business status, the new game lineup, non-operating gains and losses, and summary financial statements.

Consolidated 2024 revenue was 692.7 bn KRW, down 6.3% year on year from 739.6 bn KRW in 2023. Revenue from Com2uS itself rose 1.7% to 557.3 bn KRW, while subsidiary revenue fell 29.4% to 135.5 bn KRW. Consolidated operating profit for 2024 was 6.6 bn KRW, turning to surplus from -33.2 bn KRW in FY23, while net profit was -131.8 bn KRW.

Fourth-quarter 2024 consolidated revenue reached 189.1 bn KRW, up 17.9% year on year. Net loss in the quarter was 137.3 bn KRW, which the document attributes to a one-time impairment loss on intangible assets. Overseas sales made up 68.4% of the game business's full-year 2024 revenue, and the company reports that baseball game revenue grew over 30% annually for a second consecutive year.