Pearl Abyss Reports Operating Loss of 12.1 Billion KRW Last Year... 'Black Desert' Drives Q4 Return to Profit

Considering Disclosure of Dokkaebi Development Status Within This Year

Pearl Abyss announced on the 11th that its consolidated operating loss for last year was 12.1 billion KRW, a decrease in the deficit compared to the previous year (16.4 billion KRW). Sales increased by 2.7% year-on-year to 342.4 billion KRW. Net profit rose 301% to 61 billion KRW.

Operating profit in the fourth quarter turned positive to 2.4 billion KRW, compared to an operating loss of 5.5 billion KRW in the same period last year. Sales and net profit recorded 95.7 billion KRW and 46.8 billion KRW, respectively.

By region, North America and Europe accounted for the largest share at 52%, followed by Asia at 30%, and domestic sales at 18%. By platform, PC accounted for 76%, mobile 20%, and console 4%.

This strong performance was influenced by positive reception to new content for their flagship title, 'Geomeunsa-gmak' (Black Desert). In 2023, Black Desert completed its fantasy world spanning East and West by releasing the final Seoul chapter of the 'Land of Morning' content first unveiled that year. In the fourth quarter, the game introduced the 'Deadeye' class, the first to use firearms in the Black Desert universe. Additionally, the release of Black Desert in China expanded its regional reach.

This year, the company plans to improve performance with the new title 'Bulgeunsamak' (Red Desert). At The Game Awards (TGA) held in Los Angeles, USA, last December, the release schedule for Red Desert was announced for the fourth quarter of this year. Starting with the Game Developers Conference (GDC) in March, various marketing activities for Red Desert are planned.

CEO Heo Jin-young explained during a conference call that morning, "Red Desert is currently in the final development stage of QA (Quality Assurance), and we will showcase a new demo build within this year." Regarding the game’s price, he said, "Considering the quality of a triple-A (blockbuster) game, we are thinking about a price that can stand shoulder to shoulder with that level."

When asked about sequels after Red Desert, he said, "'Dokkaebi' is also being smoothly developed based on accumulated assets, and as Red Desert’s development wraps up, more personnel are moving to the Dokkaebi team." He added, "We are considering revealing the development status at an appropriate time this year."

The metaverse game Dokkaebi features a unique world where the protagonist embarks on an adventure to find a dokkaebi (Korean goblin), with Korean elements such as traditional tiled roofs and sotdae (wooden poles) incorporated into the game’s background. In August 2021, at Gamescom 2021, Europe’s largest game festival held in Germany, a video showcasing actual gameplay scenes was revealed during the opening ceremony.