Neowiz Turns to Loss in Q2... Rebounds in Second Half with 'P-ui Geojit'

Neowiz posted an operating loss in the second quarter. The company plans to rebound in the second half of the year by launching the highly anticipated title 'P-ui Geojit' in September.

Neowiz announced on the 10th that its second-quarter revenue was 70.1 billion KRW, with an operating loss of 4.9 billion KRW. Revenue slightly decreased by 0.2% compared to the same period last year. Operating profit turned negative due to increased marketing expenses, including the launch of 'Brown Dust 2' and the 3rd anniversary event of 'Kingdom: War of the Blaze.' Net profit for the period recorded 22.4 billion KRW, up 8% year-on-year and 627% quarter-on-quarter.

Mobile game revenue was 33 billion KRW, a 2% increase from the previous quarter. This was similar to the previous quarter, with the consolidation effect of Pow Games, but revenue growth was limited due to the absence of events for major games such as 'Goyang-i wa Seupeu' (Cat and Soup). With the revenue from 'Brown Dust 2,' released at the end of June, expected to be fully reflected from the third quarter, performance improvement in the second half is anticipated.

PC and console game revenue was 27 billion KRW, down 2% from the previous quarter. Despite increased sales from the new DLC 'V Extension 4' for 'DJMax Respect V,' revenue remained similar to the previous quarter due to the continued stabilization of PC game revenue decline. Other revenue increased by 16% quarter-on-quarter to 10.1 billion KRW, driven by increased advertising revenue from the subsidiary 'T&K Factory.'

Neowiz 'P's Lie'.

Neowiz aims to rebound its performance in the second half, focusing on self-developed titles. 'P-ui Geojit' is scheduled for official release on September 19, with Korean package pre-orders starting from the 17th through online platforms such as SSG.com and offline stores like E-Mart Traders. The company will also launch full-scale marketing efforts in the global market, including participation in Germany's 'Gamescom 2023' to promote the game.

Structural growth based on Pow Games is also planned. Pow Games is a developer with development and operational experience in mobile MMORPGs such as 'Kingdom: War of the Blaze' and 'Priston Tale M.' Currently, it is developing a sequel, 'Kingdom 2,' as well as a new title based on the famous Japanese game IP 'The Legend of Heroes.' Neowiz intends to expand its mobile game lineup and enhance competitiveness in both domestic and international game markets through these efforts.

'Brown Dust 2' will continue to improve the game through close communication with users, striving to achieve success not only in Korea but also in global markets such as Taiwan and Japan. In addition, Neowiz will publish titles such as the SNG 'Goyang-i wa Seupeu: Magic Recipe,' based on the 'Cat and Soup' IP, and the 2D platformer action game 'Sannabi.' The company is also preparing various upcoming titles in different genres, including the mobile RPG 'Dungeon de Mannam-eul Chuguhamyeon Andoeneun Geolkka' (Is It Wrong to Try to Pick Up Girls in a Dungeon?), which utilizes a famous Japanese IP currently under development.

Intella X, which operates the blockchain business, is working to expand the Intella X ecosystem by soft-launching the Web3 mobile wallet 'Intella X Wallet' for Android and web versions. Through partnerships with global blockchain companies such as 'Chainlink Labs,' 'Kana Labs,' and 'Spaceport,' Intella X is continuously striving to enhance its technological completeness and secure diverse game content.

This content was produced with the assistance of AI translation services.