Wemade said on Monday it posted first-quarter consolidated revenue of 153.3 billion won, operating profit of 8.5 billion won and net profit of 19.9 billion won. It has recorded operating profit for three straight quarters since the third quarter of 2025.

By business, games brought in 115.2 billion won, licences 30.5 billion won and blockchain 7.5 billion won. The licence segment supported results after a royalty dispute over the intellectual property rights to "The Legend of Mir 2" with China's Kingnet ended in a settlement, allowing previously unpaid licence profit-sharing income to be reflected.

Chang-hee Lee (이창희), head of Wemade's strategic planning office, said on a conference call it was a meaningful outcome that strategically resolved long-running legal uncertainty and translated it into financial results.

Net profit was driven by foreign exchange translation gains from a rise in exchange rates at quarter-end and dividend inflows from an investment portfolio including Lionheart and subsidiary funds, lifting non-operating income. Operating costs fell 14 percent from the previous quarter to 144.8 billion won.

Blockchain revenue rose 17 percent from the previous quarter and 867 percent from a year earlier. The company stressed that as the WEMIX-based economic system in "Legend of Ymir" Global, launched in October last year, became more active, platform transaction fees rose 44 percent from the previous quarter and began to make a real financial contribution.

New titles from the second half, big releases every year... expanding business axis to consoles and global markets

Wemade is developing about 20 new titles across genres including MMORPG, casual and subculture. The nearest launch momentum is a new title based on the "Night Crows" IP, slated for release in the fourth quarter of this year. Night Crows is the company's core IP, with cumulative revenue of more than 750 billion won.

The new title will be released simultaneously in Korea and globally on a single build. It aims to streamline development resources and maximise the initial impact of its launch. Wemade also plans to implement tokenomics in which WEMIX is used in-game, applying a virtuous cycle in which a game's success feeds into growth of the WEMIX ecosystem.

A key part of the mid- to long-term pipeline is an entry into consoles. "Project TAL," scheduled to be unveiled in the second half of 2027, is an open-world action RPG set in a Joseon-era fantasy world and Wemade's first major global console title in preparation. A trailer released last year surpassed 1.92 million views. The company defined the title as an important milestone in platform expansion. Studio Lasa's "Project IL," from a studio founded by key developers of "Lies of P," was also included in the pipeline in line with the console strategy.

Ki-sung Kim (김기성), head of the business development division, said the push toward consoles and genre diversification was a strategic choice to broaden the company's focus to global markets including North America and Europe. He said the company aims to move away from an MMORPG-centric portfolio and broaden its user base across genres such as casual, action RPG, shooter and subculture.

China expansion, blockchain, stablecoin "mid- to long-term momentum"

For China, it is preparing to launch "MIR4" and "Night Crows." For MIR4, the company said it is working on content tailored to local user needs while also pursuing the licence approval process, and has secured a level of development completion to allow it to launch services immediately once approval is obtained. It said it expects expansion into China to be meaningful momentum for mid- to long-term results.

In its blockchain business, it is focusing on expanding WEMIX's global liquidity and user touchpoints. WEMIX is listed on 23 exchanges worldwide and was additionally listed in March on Coins.ph, the Philippines' largest virtual asset exchange, to secure local liquidity. It plans to adopt verified tokenomics models in its next lineup including the new Night Crows title, and to step up revenue contributions by ramping up character NFT trading for Legend of Ymir.

On a won-backed stablecoin business, it said technical preparations were complete and it is now waiting for legal guidelines. It has previously unveiled the StableNet testnet in January, and has also completed preparations for strategic capital deployment through capital increases at Wemix Korea. Its goal is to establish itself as a key technology partner in line with the timing of legislation.

Company-wide AI integration, cost efficiency... "profitability improvement to accelerate from the second half"

Wemade is pushing company-wide integration of AI. It is integrating AI solutions into work processes across all departments, not only development teams, and is building a system in which employees directly use AI to improve work and share outcomes. The company defined it as a fundamental shift in how work is done, not simply the use of tools.

It plans to maintain stability in revenue from existing games in the second quarter, a period with no new releases, through events such as the third anniversary of Night Crows' domestic launch. It projected that from the second half, China licence revenue for the Mir IP will ramp up, and the effect of new releases in the fourth quarter will add to make earnings momentum more visible. It also expected the impact of labour cost efficiencies to be reflected in a meaningful way from mid-second half.

Lee said he believes current cost-efficiency efforts, combined with revenue momentum in the second half, will help strengthen this year's profit structure and deliver a full-fledged improvement in profits.