Q3 2024 Netmarble Corp Earnings Call Transcript
Key Points
- Netmarble Corp (XKRX:251270) reported a year-over-year revenue increase of 2.6%, indicating growth despite quarterly fluctuations.
- EBITDA saw a significant year-over-year increase of 319.6%, showcasing improved operational efficiency.
- The company has a diversified game portfolio, with titles like Solo Leveling: ARISE contributing significantly to total revenue.
- Netmarble Corp plans to launch several new titles, including King Arthur: Legends Rise and Game of Thrones: Kings Road, which could drive future growth.
- The company is expanding its presence in the global market, with 77% of its revenue coming from overseas regions.
- Quarter-over-quarter revenue decreased by 17.2%, reflecting challenges in maintaining consistent growth.
- EBITDA decreased by 32% quarter-over-quarter, indicating potential issues in maintaining profitability.
- Net income decreased compared to the previous quarter due to the absence of gains from asset disposals.
- Operating expenses remain high, although they have decreased, indicating ongoing cost management challenges.
- The absence of major new game launches in Q3 contributed to a decline in marketing expenses and potentially impacted revenue growth.
Greetings. I'm Dong Hwan Kim, Head of Finance Planning at Netmarble.
I thank the investors and analysts for taking the time off of the busy schedule to attend Netmarble's 2024 3rd quarter earnings conference call. On site with us are Chief Executive Officer Yeong Sik Gwon, and Byeong Gyu Kim, and Chief Financial Officer Gi Wuk Doh.
We will address any questions that may arise during the call after the main presentation. Please note that the contents of the earnings report have yet to undergo an independent auditor's review and could be subject to changes with the audit results. And with that CFO, Gi Wuk Doh, will present Q3 earnings.
Greetings. My name is Gi Wuk Doh and I will present overall 2024 3rd quarter earnings. Please refer to page 2.
Q3 revenue was KRW647.3 billion, down 17.2% QoQ and up 2.6% YoY. EBITDA was KRW102.8 billion, down 32% QoQ and up 319.6% YoY. EBITDA margin rate marked 15.9%.Q3 revenue in EBITDA decreased in comparison to the previous quarter. Due to the absence of major new launches.
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