Neowiz Profits Surge 82% as Indie Strategy Pays Off: ‘Shape of Dreams’ Hits 1 Million Milestone

• Financial Explosion: Annual revenue climbed 18% while operating profit skyrocketed by 82%, reaching 60 billion KRW.
• Indie Power: Roguelite hit Shape of Dreams officially surpassed 1 million copies sold, proving Neowiz’s publishing prowess.
• Coming Soon: The highly anticipated narrative indie title Hello Seoul: Itaewon is slated for a late 2026 release.

Neowiz has delivered a record-breaking financial performance, proving that its aggressive pivot toward high-quality PC and console indie titles is a winning formula. In an earnings report released on February 10, the company announced that its strategy of fostering unique IPs has resulted in a massive leap in profitability for the 2025 fiscal year.

Lies of P and Shape of Dreams: The Global Engines

The surge in revenue is largely attributed to the sustained global popularity of Neowiz’s core IPs.

• Lies of P: The dark fantasy soulslike continues to be a steady seller. Its major expansion, Lies of P: Overture, dominated global awards last year, including “Best Expansion” at the Golden Joystick Awards, further cementing the brand’s international standing.
• Shape of Dreams: This indie action roguelite has become the company’s newest “Million-Seller.” Released in September 2025, the game reached the 1 million sales mark in just four months, praised for its MOBA-style combat and deep narrative.
• DJMAX Respect V: The rhythm game hit a record revenue high last year, fueled by high-profile collaborations with popular titles like Blue Archive.

2025 Performance by the Numbers

Note: While Q4 2025 saw a slight dip compared to the previous quarter due to the waning “launch effect” of the Lies of P expansion, year-over-year growth remains remarkably high.

The 2026 Roadmap: Seoul and the Future of P

Neowiz isn’t slowing down. The company has outlined a clear path for H2 2026, focusing on narrative-driven indie experiences and expanding its flagship IPs.

1. Hello Seoul: Itaewon: This post-apocalyptic narrative puzzle game is the next major indie pillar for Neowiz. It is expected to launch in the second half of 2026, carrying high expectations from the indie community.
2. Lies of P Sequel: Round8 Studio has officially begun full-scale development on the next installment of the Lies of P franchise.
3. Fandom Expansion: Both Brown Dust 2 and DJMAX will see increased investment in offline experiences, including pop-up stores and live concerts, to maximize the value of their dedicated fanbases.

Shareholder Returns and Confidence

Reflecting its strong cash flow and confidence in future growth, Neowiz confirmed its mid- to long-term shareholder return policy. The company plans to secure approximately 12 billion KRW (20% of its operating profit) for stock buybacks, cancellations, and dividends.

“Our success with Shape of Dreams and Lies of P demonstrates that global players are hungry for polished, creative indie experiences,” a Neowiz representative stated. “We will continue to leverage our publishing capabilities to turn unique ideas into global hits.”