)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
HYBE (352820) investor relations material
HYBE Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary10 Nov, 2025
Executive summary
Q3 revenue reached ₩727.2 billion, up 37.8% year-over-year, driven by strong concert sales, direct participation, and global expansion, but profitability was impacted by upfront investments, restructuring costs, and increased operating expenses, especially in North America and Latin America.
Operating profit turned to a loss of ₩42.2 billion, and net income swung to a loss of ₩52.0 billion, reflecting higher costs and one-time items.
The company maintained robust global competitiveness, expanded its artist IP portfolio, and continued to invest in new markets and genres, including successful debuts and partnerships in the US, Latin America, and China.
Weverse, the global fan platform, achieved record-high MAUs and turned a cumulative profit, with digital revenue growth stabilizing earnings despite fluctuations tied to artist activity.
Financial highlights
Consolidated Q3 revenue reached ₩727.2 billion, up 37.8% year-over-year and 3.1% sequentially.
Concert revenue surged 231.1% year-over-year and 29.8% quarter-over-quarter, reaching ₩245.0 billion.
Merchandise and licensing revenue rose 69.8% year-over-year to ₩168.3 billion, while content sales fell 41.3% year-over-year to ₩46.8 billion.
Direct artist involvement revenue was ₩477.4 billion (66% of total), while indirect revenue was ₩249.8 billion (34%).
EBITDA turned negative at -₩16.8 billion, down from ₩91.4 billion in the previous quarter.
Outlook and guidance
Earnings are expected to stabilize in Q4 as most one-off costs were recognized in Q3, though short-term profitability recovery may be limited by ongoing marketing and residual restructuring expenses.
Profit structure improvements are anticipated from next year, with the resumption of BTS group activities, major artist comebacks, and monetization of new IPs.
No major new IP debuts are planned for Latin America, India, or China in the near term, focusing instead on stabilizing existing operations and improving cost efficiency.
What drove the significant increase in operating costs?
Impact of local superstar strategy on future growth
Address Weverse ARPPU and payment amount decline
North America restructuring impact on P&L
Weverse 2026 profit drivers and stability
Global IP investment cost efficiency outlook
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next HYBE earnings date
Q4 202524 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
HYBE Co Ltd is a South Korea-based entertainment and media company engaged in artist management, music production, and content creation. The company operates talent agencies, produces albums and digital music, and manages concerts and fan engagement platforms. HYBE also develops multimedia content, merchandise, and intellectual property through subsidiaries and labels, both domestically and internationally. It is known for managing globally recognized music groups and expanding into technology-driven entertainment services. The company is headquartered in Seoul, South Korea, and its shares are listed on the KRX.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage