Neowiz said on Tuesday that its second-quarter revenue under Korean International Financial Reporting Standards (K-IFRS) fell 7 percent from a year earlier to 102.1 billion won, and operating profit dropped 57 percent to 7.9 billion won.

Net profit for the quarter was 18.4 billion won, reflecting factors including expanded gains from the valuation of financial assets. Compared with the previous quarter, revenue rose 1 percent and operating profit increased 14 percent.

By segment, mobile game revenue rose 21 percent from a year earlier to 53.2 billion won. The result reflected the performance of the third anniversary update for "Brown Dust 2", collaboration effects using the intellectual property (IP) of "Cats & Soup", and results from the new title "Cats & Soup: Magic Recipe".

Revenue from PC and console games fell 35 percent from a year earlier to 37.3 billion won. It reflected stabilised sales of major titles including "Lies of P" and a base effect from the release last June of the downloadable content (DLC) "Lies of P: Overture". Other revenue was 11.6 billion won, up 37 percent from a year earlier.

Neowiz also appointed Park Sung-jun (박성준), head of the new title development group, as co-CEO through a board meeting. Park will oversee development, including discovering new IP, while CEO Tae-geun Bae will take charge of technology-based new businesses and management. The company will be run mainly around three groups: new title development, global business and live game business.

In the second half, it plans a global launch in October of a physical package of the Nintendo Switch 2 version of "Lies of P: Complete Edition", which was released on Aug. 6. It is also preparing an entry into the greater China market for the massively multiplayer online role-playing game (MMORPG) "Kingdom2" and a global launch of "Hello Seoul: Itaewon Edition".

Its new title lineup also expanded. In addition to the existing "Lies of P" sequel, "Project Rubicon", "Project Windy" and "Project CF", it added to the pipeline "Project FN", based on a subculture worldview, and the publishing title "Wound Up Deadman", a CRPG.

Neowiz also said it approved through a board meeting the acquisition of treasury shares worth 5 billion won corresponding to the guaranteed cancellation portion for fiscal 2026, in line with a three-year shareholder return policy it disclosed in January.

Park, the new co-CEO, said, "I have taken the first step to expand the experience I have built at the development site into overall management." He said, "We will focus the company’s capabilities on developing new titles to create new IP that works in the global market."