Wemade announced on August 12 that it recorded consolidated revenue of 108.3 billion won (approximately $83 million) and an operating loss of about 21 billion won (approximately $16 million) for the second quarter of 2026, along with a net profit of 3.5 billion won (approximately $2.6 million).
Revenue for the second quarter decreased by about 7% compared to the same period last year and fell approximately 29% from the previous quarter. Revenue from the gaming sector also saw an approximate 8% decline.
The company stated, "The overall revenue decline was exacerbated by the exclusion of one-time licensing revenue related to the resolution of the 'Legend of Mir 2' intellectual property royalty dispute recognized in the previous quarter, leading to a shift to an operating loss compared to the prior quarter."
The operating loss transitioned from a profit in the previous quarter. However, the loss amount was reduced from about 28.5 billion won in the second quarter of last year to approximately 21 billion won this year, attributed to cost-saving measures in labor and advertising expenses.
For the first half of 2026, cumulative revenue reached 261.6 billion won, showing a slight increase from the previous year. The operating loss for the first half was about 12.5 billion won, down from approximately 39.9 billion won in the same period last year, reflecting ongoing cost efficiency efforts.
Wemade plans to rebound with a diverse lineup of new games. The company has confirmed the title of its new game utilizing the 'Knight Crow' intellectual property as 'Knight Crow W' and is preparing for a global launch. In June, the original 'Knight Crow' received a foreign investment license for entry into the Chinese market.
Wemade Max aims to maintain a stable business structure based on long-term successful IPs while accelerating the acquisition of next-generation growth drivers starting in the second half of the year. Mad Engine is preparing to unveil the global MMORPG 'Knight Crow W' in the latter half of this year. Additionally, development continues on the open-world action RPG 'Project TAL', the new subculture project 'Project MO', and 'Mir 5'. Wemade Connect is also preparing new titles based on the 'Hundred Note' IP and the collectible RPG 'Noah', promoting genre diversification and expansion into global markets.
Son Myun-seok, CEO of Wemade Max, stated, "Long-term successful IPs are continuing to deliver stable results, solidifying the company's business foundation. We will enhance the competitiveness of our existing live services while securing new growth drivers through the new titles to be launched in the second half, aiming for meaningful achievements in the global market."
* This article has been translated by AI.
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