Netmarble announced on the 11th that it recorded 694.4 billion won in sales, 38 billion won in operating losses, and 277.5 billion won in net losses in the third quarter of this year. Sales increased 14.4% year-on-year, but operating profit recorded a deficit for three consecutive quarters.

Overseas sales amounted to 579.4 billion won in the third quarter, accounting for 83% of total sales. The proportion of sales by region is 48% in North America, 17% in Korea, 13% in Europe, 9% in Southeast Asia, 7% in Japan, and 6% in others.

Netmarble explained, “The Seven Knights Revolution, which was released in July this year, did not perform as expected, and the conversion loss related to foreign currency loans increased significantly due to the rise in the exchange rate, leading to sluggish performance.”

Netmarble plans to rebound with various new products in the fourth quarter. Following Charlotte’s Table, which was released globally on the 9th, new works such as King of Fighter Arena and Paragon: The OverPrime (Early Access) will be released within this year.

The G-Star 2022, which will open on the 17th, will showcase four expected works, including “Paragon: The Overprime,” “Arthdal Chronicles,” “I’m the Only One Level Up: Rise” and “Hype Quad.”

Netmarble CEO Kwon Young-sik said, “We have been sluggish for three consecutive quarters due to rising labor and marketing costs, delayed release of new products, and insufficient release results. We will do our best to maximize the competitiveness of new products released in the fourth quarter and new development products scheduled to be released next year.”