DoubleU Games 2024 Q4 Earnings Presentation

DoubleU Games achieved record-high financial performance in 2024, marking its strongest annual revenue and operating profit since the onset of the COVID-19 pandemic. The company reported annual revenue of 633.5 billion KRW, representing an 8.8% year-over-year increase. Operating profit reached 248.7 billion KRW, reflecting a 16.6% growth compared to the previous year and a robust operating profit margin of 39%. These results were driven by the consistent performance of the social casino segment, the scaling of iGaming operations, and disciplined cost management strategies.

The fourth quarter of 2024 contributed 155.8 billion KRW in revenue and 60.5 billion KRW in operating profit. While the social casino business remains the primary revenue driver, the company is actively diversifying through its iGaming and casual game divisions. The iGaming segment, specifically the Suprnation brand, saw significant growth, with management targeting a 10% revenue contribution from this sector. Additionally, the company successfully optimized its direct-to-consumer (DTC) platform, which saw its revenue share rise to 9.8% by the end of the fourth quarter, supported by UI/UX improvements and in-house platform upgrades.

Operational efficiency remained a central theme, as the company reduced social casino marketing costs by 42% year-over-year while maintaining revenue growth. This focus on profitability and stable cash flow has enabled the company to announce its largest dividend payout to date. Looking ahead, DoubleU Games plans to continue its expansion through increased marketing investments in iGaming and casual games, including the upcoming consolidation of Paxie Games in the second quarter of 2025. The company’s financial position remains strong, with total assets increasing to 1,644.9 billion KRW by the end of 2024.