On November 9, Cube Entertainment released an official statement detailing its financial performance for the third quarter of 2023.

The report reveals that third-quarter separate basis sales revenue was 22 billion KRW (approximately 16.8 million USD), with an operating profit of 3 billion KRW (approximately 2.3 million USD). Both these figures indicate a positive trajectory, with sales revenue up by 90% and operating profit in the green compared to the previous year.

By the conclusion of the third quarter, the cumulative separate basis sales revenue reached 65 billion KRW (approximately 49.5 million USD), thereby exceeding the annual cumulative sales revenue of the prior year in just nine months. The firm recorded a cumulative operating profit of 10.1 billion KRW (approximately 7.7 million USD), making it the first time the company has surpassed the 10 billion KRW mark since its establishment.

When accounting for subsidiary firms, the sales revenue for the third quarter on a consolidated basis was 39.1 billion KRW (approximately 29.8 million USD), with an operating profit of 3.4 billion KRW (approximately 2.6 million USD). These respective figures indicate an increase of 50% and 430% compared to the same period from the previous year. Specifically, the cumulative consolidated basis sale revenue for the third quarter alone reached a whopping 105.8 billion KRW, breaking the 100 billion KRW threshold. Furthermore, the cumulative consolidated operating profit for this quarter was 9.98 billion KRW.

Behind these promising figures is Cube Entertainment's flagship artist, (G)I-DLE, who have had three straight chart-topping hits in 2023 with "TOMBOY," "Nxde," and their comeback single "Queencard." The success of these songs has led to an increase in key performance indicators across the board, including album sales, digital music, and advertising. The results of these successes include the company achieving record-breaking cumulative sales for the third quarter.

A representative from Cube Entertainment stated that "(G)I-DLE's three-fold success and their million-seller status have boosted the intellectual property (IP) value. The expanding global fandom has led to a 170% increase in advertising revenue compared to the same period last year, which includes numerous advertising contracts, such as luxury brand ambassadors."

They further added, "(G)I-DLE's recent second world tour, which drew over 130,000 spectators, helped more than double the merchandise sales from the previous year. The third-quarter performance includes revenue and profit growth mainly contributed by activities in China, centered around Chinese member Yuqi. We are optimistic that the results of (G)I-DLE's world tour, which concluded in October, will significantly help to improve fourth-quarter performance."

In another company announcement made on November 6, Cube Entertainment officially confirmed their separation from the BTOB group members, namely Eunkwang, Minhyuk, Changsub, Hyunsik, Peniel, and Sungjae. The company revealed, "We have had lengthy discussions with the BTOB members as their second exclusive contract approached its expiration. Ultimately, we mutually agreed not to renew the contract."