Vespa – King’s Raid developer suffers massive losses as global expansion continues

Korean developer Vespa Interactive, the team behind the super-popular mobile RPG King’s Raid, recently announced its financial numbers for the 3rd quarter of 2019 (from July to September). In all, this 3-month period recorded sales of around USD 15 million, but suffered an operating loss of around USD 11 million and net loss of around USD 10 million. Revenue fell a startling 57% compared to the previous quarter as well. Vespa announced that this deficit is mainly due to the workforce having more than doubled since 2018.

The salary bill was also 221% higher compared to last year during the same months. Other reasons provided include the “temporary” slowdown in sales for King’s Raid, which is expected to recover in the 4th quarter, and increased development costs on new projects. If you missed the news, Vespa recently acquired a new studio. Vespa also stated that sales for King’s Raid increased in Japan, USA, and Europe after the recent “Soul Weapon” update which was not reflected in the 3rd quarter report. The ambitious developer will launch a series of mobile games of different genres worldwide in 2020. Stay tuned for any updates!