Wemade Max reported consolidated revenue of 148.8 billion won and an operating loss of 48.7 billion won for last year.
The company disclosed on the 9th that revenue grew 98.5% year-over-year. The surge was driven by the performance of Mad Engine's flagship title "Night Crows," which was reflected in consolidated results. The success of mobile subculture RPG "Lost Sword" and global performance of legacy intellectual property "Silkroad" also contributed. Night Crows has generated cumulative global revenue exceeding 650 billion won since its 2023 launch. Silkroad, now in its 22nd year, has recorded average annual revenue growth of approximately 20% over the past five years since 2021.
However, the company posted a 48.7 billion won operating loss for the same period due to expanded development workforce, increased costs for new title preparation, and consolidation-related expenses booked in advance. Wemade acquired Mad Engine through a stock swap last year, which increased non-cash expenses including intangible asset amortization.
Wemade Max plans to accelerate its mid-to-long-term growth strategy through restructuring based on a multi-studio system launching in full this year. Onewayticket Studio will officially release PvPvE extraction game "The Midnight Walkers" in the third quarter. The company aims to strengthen its self-development and publishing capabilities in the global indie market and expand its Steam-based portfolio.
New titles across various genres are also scheduled for announcement. In the MMORPG sector, Mad Engine's "Night Crows 2" (working title) and Wemade Next's "Mir 5" are preparing for launch. Both titles are in development targeting release in the second half of 2026. Wemade Max's first AAA open-world action RPG "Project TAL" is also set for global release in 2027.
"Last year was a year when we confirmed both Wemade Max's external growth and portfolio competitiveness through the performance of core titles and the resurgence of legacy IPs," said Son Myeon-seok, CEO of Wemade Max. "Starting this year, we will maximize each studio's expertise and creativity to build a sustainable growth structure in the global market."