South Korean Developer ShiftUp's First Report Since Going Public Revenue and Future Plans
TapTechNews August 24th news, the South Korean developer ShiftUp announced its first financial report since going public: From April to June this year, the company's revenue exceeded 65.2 billion Korean won (about 349 million RMB currently), a year-on-year increase of 65.4% and refreshing the record for the highest single-quarter revenue.
The second-quarter operating profit of Shift Up was 45.1 billion Korean won (about 241 million RMB currently), a year-on-year increase of 49%; the net profit was 40.3 billion Korean won (about 215 million RMB currently), a year-on-year increase of 5.1%.
Shift Up said that in the next, Sword Star contributed more than 25.8 billion Korean won (about 138 million RMB currently) of revenue for it this quarter, but since it signed a revenue-sharing contract with PlayStation, not 100% was credited to ShiftUp.
Nikke: Goddess of Victory contributed 38.4 billion Korean won (TapTechNews note: about 205 million RMB currently) in revenue, accounting for 58.9% of the company's total revenue, an increase of 3.5% compared to the same period last year.
Shift Up said that the PS5 debut of Sword Star sold more than 1 million copies in two months. Although the sales have slowed down currently, the company has successfully established a global IP. Allegedly, ShiftUp will continue to support Sword Star through new patches and content updates, and the PC version is still under development.
In addition, ShiftUp said that it is developing a全新 AAA action role-playing game with the code name ProjectWitches. Different from Nikke: Goddess of Victory and Sword Star, this is a cross-platform project, and the company plans to announce more details in 2025.
As of June 30, ShiftUp had a total of 309 employees. The company plans to recruit about 70 developers for ProjectWitches, and the total number of employees is expected to expand to 420 by the end of 2025.
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The game Sword Star has exceeded 1 million in sales, and the photo mode and PC version are coming.
The sales of the Sony PS5 game Sword Star exceeded expectations, and the PC version and sequel are being considered.