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Wemade
Wemade 3Q FY2022 Earnings Results
Key insights
5 takeaways- 01Consolidated revenue for 3Q'22 was KRW 108,291 million, up 71% year over year but down 1% from the prior quarter.See it on page 5
- 02The Company reported a consolidated net loss of KRW 88,497 million for 3Q'22, compared with a net loss of KRW 32,373 million in 2Q'22.See it on page 5
- 03Game segment revenue was KRW 91,550 million in 3Q'22, down 7% QoQ, which the document attributes mainly to lower sales of Mir 4 and limited contribution from Mir M.See it on page 6
- 04License revenue rose 73% QoQ to KRW 14,529 million, which the document links to three new license games.See it on page 6
- 05Operating expenses fell 5% QoQ to KRW 136,327 million, with labor costs down 10% and marketing expenses down 14% from the prior quarter.See it on page 11
Summary
Wemade Co., Ltd. presents its 3Q 2022 sales performance under K-IFRS, provided as a reference for investors and not yet reviewed by the external auditor, so figures may change. The consolidated results cover the Company and its subsidiaries, and the document also contains forward-looking statements. Revenue for 3Q'22 was KRW 108,291 million, down 1% QoQ from KRW 108,964 million in 2Q'22 and up 71% YoY from KRW 63,345 million. Operating expenses were KRW 136,327 million, down 5% QoQ and up 197% YoY, producing an operating loss of KRW 28,036 million. The net loss was KRW 88,497 million, compared with a net loss of KRW 32,373 million in 2Q'22. By business segment, Game revenue was KRW 91,550 million, down 7% QoQ, while License revenue rose 73% QoQ to KRW 14,529 million. WEMIX Platform revenue was KRW 565 million, down 34% QoQ. Domestic revenue reached KRW 70,329 million, up 11% QoQ, while overseas revenue fell 16% QoQ to KRW 37,962 million. The Company's PLAY Wallet cumulative accounts reached 8.5 million in 3Q'22.
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