Is Netmarble profitable in 2025?

Yes. Netmarble posted FY2025 consolidated revenue of ₩2.8351 trillion (up 6.4% YoY), operating profit of ₩352.5 billion (up 63.5%), and net profit of ₩245.1 billion, a sharp rebound from near-breakeven 2024, per its Feb 5, 2026 earnings release.

As of December 2025, major shareholders were Tencent Holdings via Han River Investment (~18.4-19.3%), CJ ENM (~17.6-18.5%), NC Corporation/NCsoft (~7.1-7.5%), and National Pension Service (~6.4-6.8%), with founder Bang Jun-hyuk historically holding ~24% as of 2021.

Is Netmarble laying off workers?

Netmarble's Korea-based parent headcount fell 5.2% from 839 (2022) to 795 as of July 2026, with under-30 employees down 45.5%; subsidiary Netmarble F&C cut ~20 staff (~25% of that team) in January 2025 amid an AI-linked hiring slowdown.

Could AI replace Netmarble's game developers?

Not immediately. Korean industry leaders including Krafton's CEO said in February 2026 that Google's Genie 3 model is disruptive but 'lacks sufficient implementation time' for production; NCsoft's co-CEO said AI helps casual games but not AAA development. Netmarble itself frames AI as an efficiency tool, not a replacement, per its March 2026 AGM comments.

Who is Netmarble's biggest competitor?

Nexon is the largest Korean rival, posting ₩4.5 trillion (~$3.1B) FY2025 revenue and ₩15.1 trillion in total assets versus Netmarble's ₩13 trillion (ranked #2), per an April 29, 2026 Inven Global report on Korea's Fair Trade Commission disclosures.

Is Netmarble a safe company to join in 2026?

Financially it looks stable, with record FY2025 revenue of ₩2.8351 trillion and a 17.1% EBITDA margin as of December 31, 2025, but Korean press flagged 'weak 2026 lineup risk' across its eight planned titles, and its under-30 workforce has shrunk 45.5% since 2022 amid AI-linked hiring slowdowns.

Gaming companies · South Korea

Netmarble

netmarble.com ↗

South Korean mobile game publisher behind Solo Leveling: Arise and other live-service RPGs.

Protection under test

Assessed 23 July 2026 · Evidence as of 23 July 2026

Something worth protecting exists and is being tested right now.

On the recordSince 23 July 2026 · Checkable from Q2-Q3 2026 · Every call on the record Checkpoint: Launch results for Solo Leveling: KARMA and Seven Deadly Sins: Origin

The call

Netmarble stays profitable on past hits while its 2026 lineup, not any single AI tool, will decide whether that cash flow keeps growing.

Netmarble is a South Korean company that publishes mobile games played by millions. The company makes money consistently and runs live games well, but it does not own exclusive advantages that competitors like Nexon cannot copy. The real swing factor is whether its new games like Solo Leveling: KARMA and Seven Deadly Sins: Origin perform well in the next six months; if they flop, the whole 2026 earnings picture falls apart.

Why

AI pressure: Generative AI art, code, and localization tools used by rival studios. Cheaper AI content tools let smaller studios copy Netmarble's live-service RPG formula faster, narrowing its production edge. Could AI do the core job? Only partly.

Bigger players: Nexon. Nexon, with roughly ₩4.5T revenue, outweighs Netmarble in scale and competes directly for the same mobile RPG players. Could a giant copy it? Yes, easily.

What protects it. Steady cash flow from live-service hits like Solo Leveling: Arise funds new launches and keeps global distribution deals intact.

What would change this call

Q2/Q3 2026 launch results for Solo Leveling: KARMA and Seven Deadly Sins: Origin. Shows whether Netmarble's 2026 lineup offsets weak Q1 growth or confirms lineup risk.
Further write-downs or losses tied to new titles beyond King Arthur: Legend Rise. Would indicate repeat launch failures pressuring margins.
Pace and outcome of Netmarble's HYBE stake sale amid HYBE stock volatility. Would show whether balance-sheet cleanup succeeds or adds financial strain.

Key numbers

FY2025 revenue ₩2.8351T, up 6.4% YoY (2025-12-31)
FY2025 operating profit ₩352.5B, up 63.5% YoY (2025-12-31)
Q4 2025 net loss ~₩35.9B from King Arthur write-down (2025-12-31)

Named risks

Weak 2026 lineup risk across eight new titles flagged by Korean analysts as of Feb 2026. Severity: high
AI-driven hiring slowdown shrinking under-30 workforce by 45.5% since 2022. Severity: medium
HYBE stake liquidation and SpinX debt (~₩2T) create balance-sheet dependency on volatile equity. Severity: medium
Non-exclusive live-service and IP model replicable by size-peers like Nexon, Krafton, NCsoft. Severity: medium
Q4 2025 net loss from King Arthur: Legend Rise impairment shows hit-dependency downside. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Nexon	losing to	Nexon FY2025 revenue ₩4.5T vs Netmarble ₩2.84T; Nexon #1 by assets at ₩15.1T as of Apr 2026
Krafton	contesting	Krafton FY2025 revenue ₩3.3266T, both flagged as strongest 2025 performers among 3N2K peers, Feb 2026
NCsoft	contesting	NCsoft returned to profitability in 2025 on Aion 2 after prior write-downs, per Feb 2026 report
Kakao Games and Pearl Abyss	gaining on	Both posted annual losses in 2025 while Netmarble posted record profit, per Feb 12, 2026 report

Questions people ask

Is Netmarble profitable in 2025?: Yes. Netmarble posted FY2025 consolidated revenue of ₩2.8351 trillion (up 6.4% YoY), operating profit of ₩352.5 billion (up 63.5%), and net profit of ₩245.1 billion, a sharp rebound from near-breakeven 2024, per its Feb 5, 2026 earnings release.
Who owns Netmarble?: As of December 2025, major shareholders were Tencent Holdings via Han River Investment (~18.4-19.3%), CJ ENM (~17.6-18.5%), NC Corporation/NCsoft (~7.1-7.5%), and National Pension Service (~6.4-6.8%), with founder Bang Jun-hyuk historically holding ~24% as of 2021.
Is Netmarble laying off workers?: Netmarble's Korea-based parent headcount fell 5.2% from 839 (2022) to 795 as of July 2026, with under-30 employees down 45.5%; subsidiary Netmarble F&C cut ~20 staff (~25% of that team) in January 2025 amid an AI-linked hiring slowdown.
Could AI replace Netmarble's game developers?: Not immediately. Korean industry leaders including Krafton's CEO said in February 2026 that Google's Genie 3 model is disruptive but 'lacks sufficient implementation time' for production; NCsoft's co-CEO said AI helps casual games but not AAA development. Netmarble itself frames AI as an efficiency tool, not a replacement, per its March 2026 AGM comments.
Who is Netmarble's biggest competitor?: Nexon is the largest Korean rival, posting ₩4.5 trillion (~$3.1B) FY2025 revenue and ₩15.1 trillion in total assets versus Netmarble's ₩13 trillion (ranked #2), per an April 29, 2026 Inven Global report on Korea's Fair Trade Commission disclosures.
Is Netmarble a safe company to join in 2026?: Financially it looks stable, with record FY2025 revenue of ₩2.8351 trillion and a 17.1% EBITDA margin as of December 31, 2025, but Korean press flagged 'weak 2026 lineup risk' across its eight planned titles, and its under-30 workforce has shrunk 45.5% since 2022 amid AI-linked hiring slowdowns.

Timeline

2026-07-13Report shows Netmarble Korea parent headcount at 795, under-30 share collapsed to 13.0%
2026-05-06Q1 2026 earnings call: revenue ₩651.7B, up 4.5% YoY
2026-04-29FTC disclosure ranks Netmarble #2 by assets among Korean game conglomerates at ₩13T
2026-03-25Netmarble AGM: CEO sets 2026 priority as AI-centered development systems
2026-02-05FY2025 results: record revenue ₩2.8351T, operating profit ₩352.5B, net profit ₩245.1B
2025-11-30Relaunch of Solo Leveling: Arise as premium $39.99 gacha-free 'Arise Overdrive' on Steam
2025-08-31Netmarble cancels ₩2.5 trillion HYBE-backed exchangeable bond plan
2025-01-06Netmarble F&C cuts ~20 staff, about 25% of that team
2024-05-31Solo Leveling: Arise launches, surpasses $100M revenue within 3 months
2024-01-31Metaverse Entertainment subsidiary shut down with ~70 layoffs

Revision history

23 July 2026

First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.

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