Neowiz Q4 2024 & FY2024 Earnings Results

Neowiz’s financial results for the fourth quarter and full year of 2024 reflect a period of operational stabilization alongside significant non-operating financial challenges. For the fourth quarter, the company reported revenue of KRW 89.7 billion and an operating profit of KRW 7.2 billion, marking a sequential improvement in operating performance driven by disciplined cost management and the steady performance of key intellectual properties, including Lies of P and DJMAX RESPECT V. However, the company recorded a net loss of KRW 27.3 billion for the quarter, primarily attributed to goodwill impairment losses associated with consolidated subsidiaries.

The annual performance for 2024 saw total revenue reach KRW 367.0 billion, with an operating profit of KRW 33.3 billion and a net loss of KRW 6.7 billion. Throughout the year, the company focused on expanding its PC and console pipeline through both in-house development and strategic global sourcing. Key initiatives included signing publishing agreements with international studios such as Poland’s Zakazane and the U.S.-based Wolfeye Studios, as well as prioritizing fan community engagement for live titles like Browndust 2, which saw significant growth in active users and revenue compared to the previous year.

Looking toward 2025, the company’s strategic objective is to establish a sustainable IP franchise model. This involves accelerating the development of AA+ PC and console projects, launching the Lies of P downloadable content, and continuing to leverage global partnerships to secure narrative-driven titles. The long-term business strategy emphasizes the expansion of fan communities as the primary driver of revenue growth, with a goal of launching at least one major IP franchise annually to ensure consistent, long-term performance.