Wemade Max achieved top-line growth helped by the effect of incorporating Mad Engine as a subsidiary and growth in its existing intellectual property (IP).

Wemade Max said on Sunday it posted 2025 annual consolidated revenue of 148.8 billion won. That was up 98.5 percent from a year earlier.

Revenue growth was largely driven by the inclusion of results from Mad Engine flagship title "Night Crows" in consolidated performance. Night Crows has topped 650.0 billion won in cumulative domestic and overseas sales since launch. The success of mobile subculture RPG "Lost Sword" and global performance of legacy IP "Silkroad" also contributed. Silkroad, in particular, posted revenue growth of more than 30 percent from a year earlier last year, with results in China, Vietnam and Turkey.

Wemade Max posted an operating loss of 48.7 billion won last year. The company explained that the result reflected higher costs tied to expanding development staff and preparing new titles, as well as costs related to the consolidation that were reflected in advance.

Wemade Max will move to improve results by fully operating a multi-studio system from this year. On Jan. 29, One Way Ticket Studio's new title "Midnight Walkers" began Steam Early Access.

It is also preparing new titles across genres. In the massively multiplayer online role-playing game (MMORPG) segment, "Night Crows 2", "MIR5" and "Project Tal" are in development. In the subculture genre, "Hundred Note" and "Noah" are targeting a fourth-quarter 2026 release. In the casual genre, new titles based on the "Wind Runner" IP and "Last Valkyrie" are set to be unveiled sequentially.

Son Myeon-seok (손면석), chief executive of Wemade Max, said, "We will maximize each studio's expertise and creativity to build a sustainable growth structure in the global market."