DoubleU Games Co Ltd
KRX:192080
DoubleU Games Co Ltd
DoubleUGames Co., Ltd. engages in development and supply of game software for mobile and computer games. The company is headquartered in Seoul, Seoul. The company went IPO on 2015-11-04. In addition, the Company is involved in the provision of personal computer (PC) games. The mobile games and PC games are provided under the name of DoubleU Casino, DoubleU Bingo, Take 5 Free Slots and Hello Vegas Slot. The firm sells its products in domestic and overseas markets.
DoubleUGames Co., Ltd. engages in development and supply of game software for mobile and computer games. The company is headquartered in Seoul, Seoul. The company went IPO on 2015-11-04. In addition, the Company is involved in the provision of personal computer (PC) games. The mobile games and PC games are provided under the name of DoubleU Casino, DoubleU Bingo, Take 5 Free Slots and Hello Vegas Slot. The firm sells its products in domestic and overseas markets.
Revenue Growth: DoubleUGames posted Q1 revenue of KRW 162 billion, up 4.0% quarter-over-quarter and 0.9% year-over-year, driven by strong performance in the iGaming division and record results from SuprNation and Paxie Games.
DTC Expansion: Direct-to-consumer (DTC) revenue share increased by 2.2 percentage points year-over-year to 10.4%, with Apple's policy shift enabling further DTC growth.
Profitability: Operating margin remained strong at 34%, with EBITDA margin at 36%. Net income was KRW 45.8 billion, with a 28% margin, down from Q4 due to FX normalization.
Platform & Marketing Costs: Platform cost ratio declined thanks to DTC expansion. Marketing expenses rose 13% year-over-year, reflecting strategic investment in iGaming and Paxie Games.
Portfolio Diversification: Paxie Games and SuprNation showed rapid growth, and full consolidation of Paxie Games from Q2 is expected to further boost results.
Strategic M&A: M&A remains a key part of growth, with ongoing efforts to find synergistic opportunities in North America and Europe.
Guidance: Management expects revenue and operating profit to improve in upcoming quarters, with Paxie’s contribution growing from Q2 onward.
