Netmarble 4Q 2025 & FY 2025 Earnings Results

Key insights

6 takeaways

01
Netmarble achieved record annual revenue of KRW 2,835.1 billion in 2025, a 6.4% year-over-year increase, with EBITDA rising 30.8% to KRW 484.0 billion.See it on page 3
02
Q4 2025 performance showed significant momentum with revenue of KRW 797.6 billion and EBITDA of KRW 148.9 billion, representing year-over-year growth of 22.9% and 102.9% respectively.See it on page 4
03
Despite strong operating profits, the company recorded a Q4 2025 net loss of KRW 35.9 billion due to impairment losses recognized on intangible assets.See it on page 5
04
Revenue is increasingly driven by global markets and the RPG genre, which accounted for 39% and 42% of total annual revenue, respectively.See it on page 7
05
The company plans to launch eight new titles in 2026, including major projects such as The Seven Deadly Sins: Origin and MONGIL: STAR DIVE.See it on page 9
06
Netmarble updated its shareholder return policy for 2026–2028, committing to a payout ratio of up to 40% of adjusted net profit following the cancellation of all treasury shares.See it on page 10

Summary

Netmarble’s financial results for the 2025 fiscal year demonstrate a period of record-high revenue and significant operational improvement. The company reported annual revenue of KRW 2,835.1 billion, representing a 6.4% year-over-year increase, alongside an EBITDA of KRW 484.0 billion, which surged by 30.8% compared to the previous year. This growth was underpinned by a robust EBITDA margin of 17.1%, reflecting the company’s successful focus on cost optimization and the performance of key titles such as Seven Knights Re:BIRTH and MARVEL Contest of Champions.

In the fourth quarter of 2025, the company generated KRW 797.6 billion in revenue and KRW 148.9 billion in EBITDA, marking substantial growth of 22.9% and 102.9% year-over-year, respectively. While operating profit remained strong at KRW 110.8 billion for the quarter, the company recorded a net loss of KRW 35.9 billion, primarily attributed to the recognition of impairment losses on intangible assets. The revenue mix shifted toward global markets and the RPG genre, which accounted for 39% and 42% of total revenue, respectively, by the end of the year.

Looking ahead, the company plans to sustain its momentum through a diverse pipeline of eight new titles scheduled for release in 2026, including major projects like The Seven Deadly Sins: Origin and MONGIL: STAR DIVE. Furthermore, the company has updated its shareholder return policy, committing to a payout ratio of up to 40% of adjusted net profit for the 2026–2028 period, following the cancellation of all previously held treasury shares. These results are based on consolidated K-IFRS financial statements and reflect the company's strategic emphasis on global expansion and long-term value creation.