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Netmarble Earnings Slip in Q3 on Delayed Game Launches, Prepares for Rebound Next Year

SoftwareNovember 5, 20262 min read

Netmarble, a Korean mobile game company, reported weaker third-quarter results because some new games were delayed. It plans to launch at least 13 new games in 2027 and cut costs to recover profits.

Profits fell after game launches slipped

Netmarble held its 2026 third-quarter earnings call on the 5th. Sales were 634.7 billion won, down 8.8% from a year earlier and down 15.3% from the previous quarter. Operating profit was 50.4 billion won, down 44.6% from a year earlier and down 37.1% from the previous quarter. The company said some games planned for the second half of 2026 were moved to 2027, so their sales will start later.

Key numbers and facts

Q3 2026 sales: 634.7 billion won (down 8.8% year on year, down 15.3% quarter on quarter)
Q3 2026 operating profit: 50.4 billion won (down 44.6% year on year, down 37.1% quarter on quarter)
Planned 2027 new games: at least 13, including 6 already announced and 7 new projects
Three games are targeted for launch in the first quarter of 2027
Payment fee rate in Q3 2026: 33%, up 1.6 percentage points from the previous quarter

Why the delays happened

CEO Kim Byung-kyu said the team improved game quality to stand out in existing genres, which pushed back release dates. The company also uses a multi-genre, multi-platform strategy. Its payment fee rose in Q3 because of revenue-sharing costs for an outside-developed game, 'Sol: Enchant.' Payment fees are the cut paid to app stores and partners when players buy items.

Why it matters

Netmarble's profits depend on a steady flow of new games. A long delay hurts sales for months, so the company is betting on many launches in 2027. Lower staff and marketing costs as a share of sales, plus a smaller fee burden, could help profits recover. The company expects 2027 profitability to improve a lot compared with 2026.

What to watch

Whether the three games due in Q1 2027 launch on time
Whether the 13-plus new games are released as planned
Whether the payment fee rate stays in the low 30% range
How Google's new app store fee policy affects costs for each game
Q4 2026: sales are expected to stay near Q3 levels, with profit improving

Glossary

Netmarble: A Korean mobile and PC game company that makes and publishes games.
payment fee rate: The share of sales paid out as fees to app stores or outside partners.
Sol: Enchant: An outside-developed game that Netmarble publishes, which raised revenue-sharing costs in Q3.

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