Date: Tuesday, May 12, 2026
Agenda: Pearl Abyss Q1 2026 Earnings and Future Strategy

■ Summary of Pearl Abyss Q1 2026 Earnings and Status

▣ Q1 2026 Earnings Summary

- Q1 2026 Revenue: ₩328.5 Billion (+419.8% YoY, +382.4% QoQ)

ㄴ Significant growth in both revenue and profit driven by the launch of the new title, Crimson Desert

- Q1 2026 Operating Profit: ₩212.1 Billion (+2585% YoY, +30200% QoQ)

- Q1 2026 Net Profit: ₩170 Billion (+2107.8% YoY, turned profitable QoQ)

- Revenue by IP: Black Desert ₩61.6 Billion, Crimson Desert ₩266.5 Billion

- Revenue by Region: North America/Europe 81%, Asia 13%, Domestic 6%

- Revenue by Platform: PC 59%, Console 38%, Mobile 3%

ㄴ Console revenue share increased by 31% QoQ following the launch of Crimson Desert

▣ Q1 2026 Expense Summary

- Q1 2026 Operating Expenses: ₩116.4 Billion (+110.1% YoY, +72.7% QoQ)

ㄴLabor Costs: ₩38.4 Billion (+24.3% YoY, +28.9% QoQ)

ㄴCommission Fees: ₩42.5 Billion (+224.4% YoY, +193.1% QoQ)

ㄴAdvertising Expenses: ₩23.4 Billion (+500% YoY, +151.6% QoQ)

▣ 2026 Guidance

- 2026 Projected Operating Revenue: 879 Billion – ₩975 Billion

- 2026 Projected Operating Profit: 487.6 Billion – ₩572.6 Billion

- Q2 Projected Operating Revenue: 271.3 Billion – ₩324.7 Billion

- Q2 Projected Operating Profit: 129.6 Billion – ₩176.7 Billion

▣ Q1 2026 Summary

- Pearl Abyss achieved strong Q1 results driven by the launch of Crimson Desert

ㄴ Crimson Desert recorded high pre-order volumes despite being a new IP

ㄴ Sales milestones: 2 million units in 1 day, 3 million in 4 days, 4 million in 12 days, and 5 million in 26 days

ㄴ Continuous patches based on user feedback to improve convenience and add new content

- Black Desert Franchise

ㄴ Stable live service performance, similar to the previous quarter

ㄴ Focus on reinforcing Black Desert PC content

ㄴ Black Desert console updates focused on PvP content overhaul and convenience

ㄴ Introduction of PC client for Black Desert Mobile and implementation of remaster

▣ New Title Status and Roadmap

- Crimson Desert

ㄴ Focus on increasing buyer satisfaction and new sales through continuous updates

ㄴ Ongoing efforts to expand market reach, including platform expansion

ㄴ Researching various methods to expand the game, such as DLC

- New Title Development

ㄴ Two new titles currently in development

ㄴ Goal to maintain a 2–3 year new title release cycle

- DokeV

ㄴ Focusing resources on DokeV to accelerate development

ㄴ DokeV is currently in the pre-production phase

ㄴ Updates will be provided as development progresses and information becomes ready for public release

- PLAN 8

ㄴ Currently in the concept refinement stage

ㄴ Development proceeding to maintain release intervals while prioritizing DokeV