26 February 2025 – Asphere Innovations Public Company Limited has reported its financial performance for 2024, with total revenue of THB 1,120.3 million and a net profit of THB 189.3  million, reflecting a decline of 22.7% and 13.3% respectively compared to 2023. The company’s primary revenue source remains its online gaming business (PlayPark), which continues to perform strongly in the classic game market, particularly in Singapore and Thailand. However, the closure of a key game in the Philippines in the latter half of the year and the divestment of its Malaysian subsidiary in Q3/2023 impacted overall performance. Despite these challenges, in 2024, the company expanded its game lineup by launching 6 new titles (4 mobile games and 2 PC games), reinforcing its strategy to diversify its game portfolio. In Q4/2024, Asphere recorded THB 232.1 million in revenue and THB 26.0 million in net profit, marking a quarter-over-quarter decline of 12.7% and 30.7%, respectively.

In the Blockchain and Innovation Technology Business Group, KubPlay Entertainment Co., Ltd. launched a Play & Earn mobile game, which received positive market reception and has successfully retained its player base. This reflects the growth potential in this sector and the company’s ability to further expand in blockchain-based gaming.

While 2024 saw a revenue decline, the company proactively adjusted its business operations to navigate market challenges. Key actions included organizational restructuring, process optimization, and a reduction of game license impairments by 71% compared to the previous year. Additionally, Asphere Innovations initiated the expansion of its PlayPark Services model, a comprehensive solution for game developers looking to enter the Southeast Asian market. The company actively showcased its services at global gaming events and successfully onboarded its first clients in late 2024, marking a significant milestone in diversifying revenue streams.

For 2025, the Online Game Business Group (PlayPark) has outlined a strategy focused on market expansion and increasing the player base for classic games, which continue to demonstrate strong engagement and community retention. The company is also refining its game selection criteria, shifting from a volume-driven approach to a quality-focused strategy. New game launches will prioritize well-known IPs, reputable developers, and strong revenue potential to ensure sustainable business growth. Asphere Innovations expects to launch 4 new games in 2025 under these enhanced criteria. Furthermore, PlayPark Services will continue to serve as a key initiative in diversifying revenue streams and expanding business opportunities. 

Through these strategic initiatives, the company aims to drive sustainable growth while adapting to the continuously evolving market landscape

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