Devcat has recorded its first revenue since incorporation following the launch of 'Mabinogi Mobile.' In 2025, the company posted ₩120.7 billion in revenue and ₩59.09 billion in net profit. This marks a turnaround to profitability after roughly five years of consecutive losses since its founding.

Devcat disclosed its 6th annual audit report on the 13th. For the 2025 fiscal year, the company recorded ₩120.7 billion in revenue. Compared to the previous period, when there was no revenue and ₩33.24 billion in selling, general, and administrative expenses led directly to an operating loss, the company recorded an operating profit of ₩68.85 billion this period. Net profit also turned positive at ₩59.09 billion.

This is because revenue from Nexon Korea, a related party for the current period, amounted to ₩120.12 billion, which is nearly identical to the company's total revenue. Given that the business structure involves Nexon publishing 'Mabinogi Mobile,' which was developed by devCAT, the revenue generated from 'Mabinogi Mobile' following its March 2025 launch has effectively translated into this sales figure.

The game's success has also significantly improved cash liquidity. Cash and cash equivalents, which were approximately ₩8.78 billion in the previous period, rose to ₩49.74 billion by the end of the current period. This cash is likely to be used to repay loans from Nexon Korea. Devcat has a short-term loan of ₩104 billion from Nexon Korea maturing on May 10.

Furthermore, the company remains in a state of capital impairment with an accumulated deficit of ₩45.45 billion. However, compared to the ₩104.54 billion deficit at the end of the previous period, the company has reduced its deficit by approximately ₩59.1 billion in one year. While it is difficult to wipe out accumulated losses with a single year of profit, the company is now on a path toward financial normalization, depending on the long-term success of the game.