Kakao Games Corp
KOSDAQ:293490
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Kakao Games Corp
Kakao Games Corp. engages in the development and provision of games for multi-platforms such as mobile phone, computer, virtual reality, and smart television. The company is headquartered in Seongnam, Gyeonggi-Do. The company went IPO on 2020-09-10. The firm's online game products include Battle Grounds, Black Desert, and others. The firm's mobile game products include Moonlight Engraver, Friends Pop, and others. The firm is also engaged in the manufacture and sale of wireless communication devices.
Kakao Games Corp. engages in the development and provision of games for multi-platforms such as mobile phone, computer, virtual reality, and smart television. The company is headquartered in Seongnam, Gyeonggi-Do. The company went IPO on 2020-09-10. The firm's online game products include Battle Grounds, Black Desert, and others. The firm's mobile game products include Moonlight Engraver, Friends Pop, and others. The firm is also engaged in the manufacture and sale of wireless communication devices.
Revenue Decline: Kakao Games reported Q4 2024 revenue of KRW 160.1 billion, down 21% year-on-year and 17% quarter-on-quarter.
Annual Performance: Full-year 2024 revenue fell 14% year-on-year to KRW 738.8 billion.
Profitability Drop: Operating profit for 2024 was KRW 6.5 billion, down 92% year-on-year, with a Q4 operating loss of KRW 6.3 billion.
Cost Controls: Operating expenses decreased 12% year-on-year in Q4 and 6% for the full year, with focused cost efficiencies and headcount management.
Mobile Weakness: Mobile game revenue dropped 30% year-on-year in Q4 amid a lack of new releases.
Upcoming Releases: Major new game launches are planned for the second half of 2025, expected to drive a rebound in revenue and profitability.
Global Expansion: Management outlined tailored strategies for North America, Europe, China, and Japan, emphasizing market-specific approaches and increased global focus in 2025.
