Netmarble Q3 Revenue Drops as Delayed Game Launches Weigh on Profit

Netmarble had a softer third quarter than expected, with revenue and operating profit both falling after several game launches slipped out of the period. The South Korean publisher reported consolidated revenue of 634.7 billion won, about $433 million, and operating profit of 50.4 billion won for Q3, according to a November 5 regulatory filing.

That puts revenue down 8.8% year over year and 15.3% from the previous quarter. Operating profit fell harder, dropping 44.6% year over year and 37.1% quarter over quarter. Net profit came in at 22.2 billion won, or about $15.19 million.

The results missed market expectations. FnGuide had forecast revenue of 730.8 billion won and operating profit of 82.4 billion won. Netmarble pointed to delayed launches as the main reason for the shortfall.

Overseas sales remained the bulk of Netmarble’s business, bringing in 476.2 billion won, or 75% of total revenue. North America was the largest region at 40% of revenue, followed by Korea at 25%, Europe at 12%, Southeast Asia at 10%, Japan at 8%, and other markets at 5%.

For MMO players, the notable piece is still Netmarble’s genre mix. The company said MMORPGs made up about 25% of earned revenue in Q3, with RF Online Next and VAMPIR named among its stronger performers.

Netmarble is now looking to next year for a broader rebound. The company plans to launch more than 13 new titles, including six already announced games such as Shangri-La Frontier: The Seven Strongest Species and Babel Protocol. It also plans to bring existing games into new regions, with Solo Leveling: Arise and The King of Fighters All Star planned for China.

For the rest of 2026, Netmarble says it will focus on updates for current games and tighter spending while preparing that larger 2027 lineup.

Further reading: Netmarble Q3 2026 IR report