NEOWIZ Q3 2024 Earnings Results Presentation
The report presents NEOWIZ’s financial performance for the third quarter of 2024, emphasizing revenue composition, expense trends, and strategic initiatives. Overall revenue reached KRW 93.1 billion, marking a 20.7 % year‑over‑year decline yet a 7.0 % quarter‑over‑quarter increase. PC/Console sales fell sharply, down 33.1 % YoY to KRW 36.9 billion, while mobile revenue grew 19.7 % QoQ to KRW 45.7 billion, driven by seasonal events and the launch of “The Legend of Heroes: Gagharv Trilogy.” Non‑gaming income contributed KRW 10.6 billion, up 11.7 % YoY but down 9.2 % QoQ due to reduced advertising earnings from subsidiary TNK FACTORY.
Operating expenses totaled KRW 86.7 billion, a 10.9 % YoY reduction but a 5.4 % rise QoQ. Labor costs fell modestly, whereas variable costs rose 14.3 % QoQ because of higher platform commissions on new mobile titles, and marketing outlays increased 26.0 % QoQ to support the trilogy launch. The company recorded an operating profit of KRW 6.5 billion but posted a net loss of KRW 1.4 billion, reflecting elevated financial expenses and a modest decline in other income.
Geographically, revenue was split roughly 40 % domestic and 60 % international, with the strongest contributions from Asian and European markets. The quarter’s financial statements cover the period ending November 2024 and are prepared under consolidated K‑IFRS standards. A notable strategic development was the signing of a global publishing agreement with Polish studio Zakazane, aimed at expanding NEOWIZ’s PC/Console portfolio and strengthening narrative‑driven IP. The data set draws from internal accounting records and reflects the company’s consolidated financial position, assets, liabilities, and equity as of the reporting date.
