The quarterly financial week for developers and publishers continues with NEOWIZ posting revenue of KRW 101.4 billion (around $74 million) in Q1 2026, up 13.9% year-on-year but down 4.6% quarter on quarter, with no new releases during the quarter.
Operating profit came in at KRW 7.0 billion ($5.1 million), down 32% YoY, while net profit surged to KRW 15.5 billion ($11.3 million), a massive 153% year-on-year gain thanks to FX gains from the strong dollar. Mobile led growth via Browndust 2 anniversary events, while PC/Console revenue stabilized on the back of the Lies of P DLC Overture and the indie game Shape of Dreams.
NEOWIZ also revealed its full development pipeline of six projects, which is inevitably led by the Lies of P sequel, currently in the vertical slice phase. Here's the complete lowdown:
- Lies of P Sequel — Souls-like RPG, PC/Console, vertical slice
- Project Rubicon — Narrative RPG, PC/Console, vertical slice
- Project CF — Life Simulation, PC/Console, production
- Wolfeye Studios project — Retro SF First-Person RPG, PC/Console, production (published by NEOWIZ)
- Zakazane Studio project — Noir West CRPG, PC/Console, production (published by NEOWIZ)
- Project Windi — Souls-like RPG, still in prototype
The Lies of P sequel has moved beyond prototype into the vertical slice phase, the stage at which developers build a polished internal build representing intended mechanics, visual quality, and combat direction. NEOWIZ describes the project as having "completed validation of its core fun elements and moved into a phase to enhance the actual play experience and overall polish".
ROUND8, the internal studio behind Lies of P, has also discussed its focus on narrative in the presentation:
We consider narrative to be one of the core competencies ROUND8 must possess, acting as a crucial element in driving user immersion. In an environment where global development costs are rising, it is difficult to achieve favorable market evaluations relying solely on technical and quantitative inputs. Thus, the importance of narrative has grown significantly.
In other news, ROUND8 is hiring an "AI creator" to use generative AI tools to speed up art production, following in Sony's footsteps toward an AI-powered future.
About the author: With over two decades of experience in gaming journalism, Alessio Palumbo has led the gaming vertical at Wccftech since August 2015. He started working at a young age for Italian websites like Everyeye.it, Gamestar.it, Nextgame.it, and Multiplayer.it before kickstarting the indie English-language publication Worlds Factory as its founder and Editor in Chief. In the last decade, he has coordinated the overall output of Wccftech's gaming section, managed PR relations, assigned reviews, produced daily news coverage, edited gaming content as needed, and delivered game reviews. Arguably, his trademark content is the long series of exclusive developer interviews that have been cited by Wikipedia and by the biggest news media and gaming publications. His passion for technology also makes him knowledgeable when it comes to gaming hardware and tech. His favorite genres include RPGs, MMORPGs, and action/adventure games.
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