NEOWIZ has six games in development, with Lies of P sequel leading the way

NEOWIZ has shared a clearer look at its future game lineup, and the Lies of P sequel remains the company’s biggest project.

The publisher reported KRW 101.4 billion in revenue for Q1 2026, or about $74 million. That was up 13.9 percent year over year, but down 4.6 percent from the previous quarter. Operating profit fell 32 percent year over year to KRW 7.0 billion, while net profit jumped 153 percent to KRW 15.5 billion, helped by foreign exchange gains from the strong dollar.

The quarter did not include any major new release. Mobile revenue was supported by Browndust 2 anniversary events, while PC and console revenue remained steadier thanks to Lies of P: Overture and indie game Shape of Dreams.

The bigger update is NEOWIZ’s six game development slate.

The Lies of P sequel has moved beyond the prototype stage and is now in vertical slice development. That means ROUND8 is building a polished internal version that represents the game’s intended mechanics, visuals, combat direction, and overall feel.

NEOWIZ says the sequel has already validated its core fun elements and is now focused on improving the actual play experience and polish. That is a positive sign, though it also suggests the game is still not close to release.

ROUND8 is also putting more weight on narrative. The studio said story is one of its core strengths and a key part of player immersion. It also noted that as global development costs rise, studios cannot rely only on technology or scale to earn strong market reactions.

That matters for Lies of P. The first game stood out because it had more than solid Soulslike combat. Its dark Pinocchio inspired world, strong atmosphere, and clear visual identity helped it feel different from other games in the genre. The sequel now has to build on that without losing its personality.

At the same time, ROUND8 is moving toward generative AI. The studio is hiring an “AI creator” to help speed up art production, which suggests AI tools may become part of its development pipeline.

That will likely be controversial. Many players and developers remain cautious about generative AI in games, especially when it touches art. ROUND8 may need to be clear about how it uses AI, how much human artists remain involved, and whether it treats AI as a helper rather than a replacement.

NEOWIZ’s wider pipeline shows that the company wants to grow beyond one hit. Project Rubicon gives it a narrative RPG, Project CF moves into life simulation, and Project Windi suggests another Soulslike is also being explored. Its publishing deals with Wolfeye Studios and Zakazane Studio also add more RPG variety.

Still, Lies of P 2 is clearly the anchor. The first game gave NEOWIZ and ROUND8 global attention. Now the sequel has to prove that Lies of P can become a lasting franchise, not just a one time success.