South Korean developer Pearl Abyss’s Q1 operating revenue surged 419.8% year-over-year to ₩328.5 billion ($220.6 million), driven by the March 19 launch of Crimson Desert.
Operating profit reached ₩212.1 billion ($142.5 million), up from ₩7.9 billion ($5.3 million) a year earlier, reflecting strong marketing and revenue growth.
Net profit rose to ₩170 billion ($114.2 million) from ₩7.7 billion ($5.1 million) in the same period last year.
Crimson Desert generated ₩266.5 billion ($179.1 million) with sales evenly split between console and PC.
The company noted that console revenue is “recognised after deducting platform fees, while PC revenue is recognised after deducting taxes from user payments.”
North America and Europe contributed 81% of total operating revenue, followed by Asia at 13% and Korea at 6%. More than 80% of Crimson Desert sales were in North America and Europe.
Pearl Abyss reported a 31% quarter-on-quarter increase in console revenue after Crimson Desert’s launch. PC accounted for 59% of revenue, console for 38%, and mobile for 3%.
The Black Desert franchise delivered stable quarter-on-quarter results, generating ₩61.6 billion ($41.4 million).
Pearl Abyss forecasts operating revenue between ₩879 billion ($560.4 million) and ₩975.4 billion ($665.2 million). Operating revenue from Crimson Desert is expected to range from ₩644.1 billion ($432.6 million) to ₩734.8 billion ($493.2 million).
Pearl Abyss expects Crimson Desert revenue to decline in Q2 because initial package sales are front-loaded. The company anticipates the game will maintain stable performance through ongoing patches and updates.
Future plans for Crimson Desert include “expanding its presence through platform expansion” and releasing additional DLC.
The studio is developing two new titles: DokeV, currently in pre-production, and Plan 8, in the conceptualisation stage. Pearl Abyss aims to release new titles every two to three years.
Last week, Pearl Abyss sold Fenris Creations (formerly CCP Games) back to its CEO for $120 million.
Pearl Abyss acquired the Icelandic developer in 2018 for $225 million in cash plus $200 million in performance-related payouts.
Fenris Creations confirmed that the transition would not involve restructuring or layoffs, and Pearl Abyss said it will “continue to keep potential collaboration opportunities open.”
