adminPearl Abyss Q2 earnings declined as the initial sales impact of Crimson Desert, which launched in March, began to fade. Revenue and profit fell from the previous quarter, following a 419.8% surge in first-quarter earnings. The results also came in below the company’s previous guidance.
Image credit: Pearl Abyss
Pearl Abyss Q2 earnings and financial results
Operating revenue decreased 41.4% quarter-on-quarter to ₩192.6 billion ($135.9 million). Operating profit fell 68.1% to ₩67.6 billion ($47.7 million), while net profit was down 58.3% to ₩70.9 billion ($50 million).
The company attributed the difference from its earlier expectations to several factors: the distribution-channel split for Crimson Desert sales, regional pricing differences, delays between physical copies being sold to customers and revenue being recognised, and revenue deferrals related to refund guarantees. These factors can affect when sales appear in reported results, so quarterly revenue may not move in line with unit sales alone.
Crimson Desert sales and platform mix
Crimson Desert sold 2.11 million copies during the quarter and generated ₩136.1 billion ($96 million) in revenue. Digital purchases made up 82% of units sold, while physical editions accounted for 18%.
Consoles contributed 34% of Pearl Abyss’s revenue, with PC accounting for 61% and mobile for 5%. The console share remained elevated, and Crimson Desert represented about 70% of total revenue. By region, North America and Europe together provided 75% of revenue. Asia contributed 16%, and Korea accounted for 9%.
For readers comparing the company’s results over time, it is useful to consider both unit sales and revenue recognition. Physical sales timing, distribution arrangements and regional pricing can influence reported revenue within a specific quarter.
Switch 2 version, DLC and upcoming games
Pearl Abyss is developing downloadable content for the open-world role-playing game. The release date is expected to be announced in the third quarter. The company is also working on a Nintendo Switch 2 version, which has reached a “playable baseline” and is targeted for release in the first half of 2027.
The Black Desert franchise generated ₩55 billion ($38.8 million), a slight decrease. Pearl Abyss said its work on the franchise focused on content optimisation rather than major expansions.
Two other titles, DokeV and Plan 8, remain in development. DokeV is scheduled for release in the second half of 2028. Pearl Abyss has said it aims to maintain a consistent release cycle of every two to three years.
Updated full-year outlook
Pearl Abyss now expects full-year operating revenue of ₩709.8 billion ($501 million) to ₩743.8 billion ($525 million). Its operating profit forecast is ₩315.5 billion ($222.7 million) to ₩345.2 billion ($243.6 million). These are company projections, not guaranteed results, and may change as sales and release schedules develop.
Overall, Pearl Abyss Q2 earnings reflect a step down from the unusually strong first quarter as the launch-period impact of Crimson Desert subsided. Future performance will depend in part on the game’s continued sales, planned DLC and platform expansion, alongside the company’s other releases.
