Pearl Abyss Reports Operating Loss of 16.3 Billion KRW Last Year... 'Turned to Deficit'

Pearl Abyss announced on the 15th that it recorded consolidated sales of 333.5 billion KRW and an operating loss of 16.4 billion KRW last year. Sales decreased by 13.5% compared to the previous year, and operating profit turned to a loss.

In the fourth quarter of last year, sales were 84.4 billion KRW, with an operating loss of 5.5 billion KRW. Compared to the same period last year, sales decreased by 18.0%, and operating profit turned to a loss.

In the fourth quarter, sales by game intellectual property (IP) were 60.1 billion KRW for "Geomeunsamak" (Black Desert) and 19.9 billion KRW for "Eve." Sales of "Eve" increased by 15% compared to the same period last year, but sales of the main IP "Geomeunsamak" declined by 15.6% during the same period.

By region, the sales share in the fourth quarter was 59% in North America and Europe, 21% domestically, and 20% in Asia, with the North American and European markets accounting for more than half last year.

By platform, the sales share of the PC platform gradually increased from 74% in the first quarter of last year to 79% in the second quarter, 81% in the third quarter, and reached 83% in the fourth quarter. Conversely, mobile sales decreased from 20% in the first quarter to 12% in the fourth quarter.

Operating expenses in the fourth quarter totaled 89.9 billion KRW, down 9.6% from the same period last year but up 8.6% from the previous quarter. Among these, labor costs accounted for 45.2%, commission fees 19%, advertising expenses 9%, depreciation 7.4%, and other expenses 19%.

This year, Pearl Abyss plans to continue stable service based on new content such as "Achim-ui Nara: Seoul" (Morning Country: Seoul) for Geomeunsamak, while unveiling and launching various new titles utilizing the Eve IP. They are also preparing for full-scale marketing of the next title, "Bulgeunsamak" (Crimson Desert).

Jo Seok-woo, Chief Financial Officer (CFO) of Pearl Abyss, said, "In 2024, we will continue to achieve results through ongoing changes in Geomeunsamak and Eve," adding, "At the same time, we plan to devote efforts to the successful launch of new IPs."