2Q 2026 Earnings Results: Netmarble

Netmarble’s financial results for the second quarter of 2026 demonstrate a period of growth, characterized by an increase in both consolidated revenue and operating profit. The company reported quarterly revenue of KRW 749.2 billion, representing a 15.0% increase quarter-over-quarter and a 4.4% increase year-over-year. This growth was primarily driven by the performance of existing titles and the successful launch of new games, including The Seven Deadly Sins: Origin and SOL: enchant. EBITDA reached KRW 112.0 billion with a margin of 14.9%, while operating profit stood at KRW 80.1 billion. Net profit was reported at KRW 203.9 billion, bolstered by non-operating gains such as the disposal of G-Tower.

The company maintains a geographically diverse revenue stream, with 78% of total revenue generated from overseas markets. North America remains the largest contributor at 39%, followed by Korea at 22%, Europe at 13%, Southeast Asia at 10%, and Japan at 9%. The game portfolio is similarly diversified across genres, led by RPGs at 42%, casual games at 35%, and MMORPGs at 17%. Revenue generation is well-distributed among top titles, with MARVEL Contest of Champions accounting for 9% of revenue, followed by several titles contributing between 5% and 7% each.

Operating costs for the quarter totaled KRW 669.1 billion, reflecting an 11.8% increase quarter-over-quarter. This rise is attributed to higher marketing expenditures related to new product launches, increased labor costs due to salary adjustments, and higher commission fees resulting from a larger revenue mix of external intellectual property games. Looking ahead to the second half of 2026, the company plans to expand its portfolio with the launch of three new titles: Solo Leveling: KARMA, Shangri-La Frontier: The Seven Colossi, and PROJECT AEGIS.