Devsisters swings to Q3 operating profit of 7.2 billion won on hit new release

[Financial News] Devsisters returned to profitability in the third quarter of this year, buoyed by the hit performance of its new title CookieRun: Crumble and overseas results for CookieRun Classic. In particular, CookieRun: Crumble drove an improvement in results, surpassing 20 billion won in cumulative revenue less than a month after launch.
Devsisters said on the 10th that third-quarter revenue came to 81.2 billion won, up 48% from the same period a year earlier, while operating profit totaled 7.2 billion won.
The improvement in results was driven by new title CookieRun: Crumble and CookieRun Classic. According to Devsisters, CookieRun: Crumble reached 20 billion won in cumulative revenue less than a month after launch. Following a recent update, it reentered the top three in game revenue on the Apple App Store in South Korea, while monthly time spent in the game rose 30% from the early days after launch. The company plans to sustain its success this month by adding a new competitive mode and progression features.
CookieRun Classic is also expanding its performance, particularly in Thailand. Since Thai-language support was added to the game last month, the number of new users locally has risen about 1.5-fold compared with the week before the update. Devsisters plans to focus on boosting user activity and revenue in key markets, including Thailand.
The company is also seeking to expand its user base for existing games through content updates. Since Cookie Run: Kingdom began a collaboration with the popular animated series The Amazing Digital Circus on the 21st of last month, revenue, new-user numbers and active-user numbers have increased in the U.S. market. On the 11th, it plans to launch Champions League, a new competition among the top users across all servers.
New and returning users have also increased for CookieRun: OvenBreak, which marked its 10th anniversary, following a celebratory update. The game is expanding user participation through new creative content such as MyCookie, and plans to release content this winter that expands on its existing Santa School world.
Devsisters is also continuing its push into overseas markets. CookieRun: Tower of Adventures, which secured a Chinese publishing license last August, has been running its second closed beta test (CBT) since the 29th of last month, targeting about 30,000 local users. After reviewing local content and monetization systems, the company plans to pursue an official launch in China.
In its non-gaming business, the company is seeking to boost revenue through new products and offline collaborations. In the fourth quarter, it plans to launch new North American products for the CookieRun: Braverse Card Game and 10th-anniversary merchandise for CookieRun: OvenBreak, aiming to surpass 20 billion won in cumulative revenue for the year.
Devsisters plans to lay the foundation for medium- to long-term growth by strengthening its game lineup and intellectual property (IP), while also improving its organizational operations and business structure.

[email protected] Choi Hye-rim Reporter