1. What Happened? Wemade Max Q2 Earnings Breakdown
Wemade Max reported KRW 33 billion in revenue, KRW -16.6 billion in operating income, and KRW -15.1 billion in net income for Q2 2025. While revenue exceeded market expectations, the widening loss is a key point to consider.
2. Why These Results? Analyzing the Drivers of Change
The revenue growth stems from robust global licensing sales and stable service operation of its flagship game IPs like Mir4 and Night Crows. Conversely, the increased losses are primarily attributed to investments in new game development, increased marketing expenses, and weaker performance of some existing games.
3. What’s Next? Investment Perspective and Future Outlook
Despite short-term concerns about underperformance, long-term positive factors exist. The successful track record of Mir IP-based blockchain games, continued investments in new game development, and business diversification efforts suggest potential for future growth. However, addressing the profitability challenge is crucial, and the success of new game launches and blockchain ventures will significantly impact future stock performance.
- Strengths: Strong IPs, Blockchain Gaming Experience, Growth Potential
- Weaknesses: Declining Profitability, Uncertainty of New Game Success
- Opportunities: Blockchain Gaming Market Growth, Business Diversification
- Threats: Global Economic Slowdown, Increased Competition
4. What Should Investors Do?
While acknowledging the potential for short-term price volatility, an investment strategy focusing on medium to long-term growth potential is recommended. Continuously monitoring key indicators like new game launches, blockchain business performance, and cost optimization efforts will be crucial for informed investment decisions.