Pearl Abyss (263750) reported annual revenue of 365.6 billion won ($251 million) for 2024, up 6.8% year-over-year, the company said Wednesday.
The South Korean game developer swung to an operating loss of 14.8 billion won and a net loss of 7.6 billion won, compared with profits in the prior year, as development costs for new titles increased.
Fourth-quarter revenue came in at 95.5 billion won, down 0.2% from a year earlier. The company posted an operating loss of 8.4 billion won and a net loss of 14.4 billion won for the quarter, both reversing from profits in the year-ago period.
Pearl Abyss's flagship title "Black Desert" PC introduced a new class called "Seraphim" and a new season of "Spear of Solares." The console version was updated with "Atoraxxion" and "Edana" content, while the mobile version expanded its Morning Land series, driving revenue growth. "EVE Online" also saw increased sales following the release of its "Concentrix" expansion pack.
The company's upcoming title "Crimson Desert" has surpassed 2 million wishlists on Steam and other major platforms, drawing global attention. A series of preview videos showcasing the game's story, regions, exploration, action, and quests have garnered positive reviews from international media and gamers.
Pearl Abyss recently announced that "Crimson Desert" has gone gold and entered the launch phase. The game is scheduled for worldwide release on PC and console platforms on March 20.
"While continuing steady live services for Black Desert and EVE in the first quarter, we will devote all our efforts until the end for the successful launch of Crimson Desert," said Cho Mi-young, Chief Financial Officer of Pearl Abyss.