Neowiz returned to profitability last year, driven by successful new game launches across PC, console, and mobile platforms.
The South Korean game developer announced Monday that it recorded consolidated revenue of 432.7 billion won ($307 million) and operating profit of 60 billion won for 2024, up 18% and 82% year-on-year respectively. Net income reached 45.8 billion won, marking a turnaround to profitability.
The company's action RPG "Lies of P" built a global fanbase last year, while "Shape of Dreams" surpassed 1 million copies sold. These PC and console titles strengthened profitability, lifting segment revenue 22% to 45.9 billion won.
Mobile intellectual properties including "Brown Dust 2" sustained solid growth, diversifying revenue streams. Mobile segment revenue rose 11% to 47.7 billion won.
Fourth-quarter revenue increased 19% year-on-year to 106.3 billion won, while operating profit fell 32% to 4.7 billion won. Net income for the quarter turned positive at 1.9 billion won.
Neowiz plans to accelerate global expansion this year by investing in narrative-driven IP and expanding its fanbase. The company will release indie game "Annyeong Seoul: Itaewon" in the second half, following "Shape of Dreams." For live-service titles "Brown Dust 2" and "DJMax Respect V," the company aims to boost profitability through fan-focused activities including pop-up stores and concerts.
Round8 Studio is ramping up new title development. Full-scale production has begun on a sequel to "Lies of P," with additional new games and publishing lineup to be announced based on development progress.
The company also unveiled a mid-to-long-term shareholder return policy. Neowiz plans to allocate approximately 12 billion won—20% of last year's operating profit—for share buybacks, cancellations, and dividends. Specific execution plans will be finalized at the annual shareholders' meeting in March.