DoubleUGames (192080) Q1 2026 earnings summary

Executive summary

• Q1 2026 achieved record consolidated revenue of KRW 205 billion, up 2.6% QoQ and 26.6% YoY, driven by growth in social casino, iGaming, and casual games.

• EBITDA reached KRW 75.1 billion and operating profit KRW 68.5 billion, both at all-time highs, with all business segments profitable.

• Net income attributable to controlling interests was KRW 56.51 billion, with basic EPS of KRW 2,931.

• DTC revenue share for social casino nearly quadrupled YoY to 38.7%, accelerating profitability.

• Completed acquisitions of Paxie Games and WHOW Games, expanding the casual and social casino portfolio.

Financial highlights

• Revenue for Q1 2026 was KRW 205.0 billion, up from KRW 199.8 billion in 4Q25 and KRW 162.0 billion in 1Q25.

• EBITDA margin improved to 36.6%, and operating profit margin reached 33.4%.

• Net profit was KRW 73.5 billion with a 35.9% margin, boosted by FX gains.

• Cash and cash equivalents at end of Q1 2026 were KRW 674.7 billion, up from KRW 569.9 billion at end of 2025.

• Total assets as of March 31, 2026: KRW 2,000.4 billion; total equity: KRW 1,775.5 billion.

Outlook and guidance

• Profitability in casual and iGaming expected to be sustainable in Q2 2026, with AI-driven casual game expansion continuing to drive growth.

• Short-term goal to increase DTC ratio by 10% in underperforming segments.

• Ongoing integration of recent acquisitions and new in-house titles to drive revenue and market share.

• Progress on DDI take-private transaction and resolution of dual-listing structure underway.