KRAFTON, Inc. today announced its third quarter earnings for 2026.
Based on consolidated financial statements prepared in accordance with Korean International Financial Reporting Standards (K-IFRS), KRAFTON reported third-quarter revenue of KRW 971.4 billion and operating profit of KRW 225 billion. Cumulative revenue reached KRW 3.633 trillion and operating profit totaled KRW 1.1975 trillion in the first three quarters of 2026, up 51% and 14% year-over-year, respectively, marking all-time highs for both metrics for this period. Cumulative operating profit alone reached 114% of KRAFTON’s full-year operating profit for 2025.
Key Performance Highlights for Q3 2026
The Q3 revenue breakdown was as follows:
- KRW 238.9 billion from PC (-32.5% YoY)
- KRW 504.3 billion from mobile (+3.2% YoY)
- KRW 8.6 billion from console (-15.9%), and
- KRW 219.6 billion from others (+1,117.8%)
On mobile, revenue grew 3% year-over-year and 12% quarter-over-quarter, driven by global IP collaborations with Naruto and Ferrari during the peak summer holiday season. Other revenue included KRW 198.4 billion in advertising and content revenue from ADK Group. Third-quarter operating profit was KRW 225.0 billion, reflecting costs associated with participation in gamescom and other activities.
PUBG IP Franchise: Expanding Gameplay Through UGC and IP Collaborations
The PUBG IP Franchise is expanding into a platform offering diverse gameplay experiences, with the goal of becoming a global cultural icon that resonates across regions and generations. Following the introduction of user-generated content (UGC) on PC in December 2025, KRAFTON launched PUBG: Playgrounds this August, allowing players to discover and play a wide range of community-created content. On mobile, KRAFTON expanded content featuring global IPs in World of Wonder (WOW) and introduced UGC monetization to further expand the ecosystem. These initiatives give players more ways to engage with the franchise and more reasons to return.
In the fourth quarter, KRAFTON will broaden its player base by diversifying gameplay experiences, expanding its mobile presence in emerging markets and strengthening PUBG branding. Since November, the company has been running a collaboration with K-pop group IVE spanning in-game and real-world experiences. BGMI Air, a lightweight version for emerging markets, has surpassed 14 million pre-registrations ahead of its December 10 launch. KRAFTON is also preparing its largest-ever content update for PUBG’s 10th anniversary in 2027.
New Franchise IP: Subnautica Growth and Market Validation for PUBG: DED.NET
Subnautica 2 has surpassed 5 million cumulative units sold worldwide and maintains a 91% positive review rating on Steam. The game is also on 4.45 million wishlists, indicating continued interest from prospective players. KRAFTON will focus on preparations for full launch, with a major Early Access 2.0 update at the end of the year to further improve product quality, while exploring opportunities to expand the IP both within and beyond games.
PUBG: DED.NET, a new title based on the PUBG IP unveiled at gamescom in August, targets console shooter players in Western markets. The game combines the gunplay of PUBG: BATTLEGROUNDS with roguelite progression to offer a differentiated gameplay experience. A closed beta test (CBT) held in October confirmed the game’s potential. KRAFTON will continue to refine the gameplay based on participant feedback as it prepares for a 2027 release.
AI: Strengthening In-House Development Capabilities with Raon-1 mini Preview
KRAFTON unveiled its in-house large language model (LLM), Raon-1 mini Preview, on October 21, demonstrating top-tier performance among Korean models in its class across Korean-language capabilities, response speed and inference efficiency. KRAFTON will use its in-house model, trained to understand the language and mechanics of games, to strengthen its game AI capabilities, including PUBG Ally. The company plans to expand its lineup with the larger-scale Raon-1 and a full-duplex speech model, extending the AI expertise accumulated in gaming to the development of specialized models for future business areas.
Shareholder Returns
In line with the shareholder return policy announced in February, KRAFTON acquired approximately KRW 400 billion in treasury shares and paid a KRW 99.6 billion capital-reduction dividend through the third quarter. Combining shares newly acquired this year with KRW 117.7 billion in previously held treasury shares, the company canceled a total of KRW 517.6 billion in treasury shares, equivalent to 4.4% of total shares issued.
Based on its assessment that the current share price does not fully reflect the company’s value, KRAFTON’s Board of Directors decided on November 3 to acquire an additional KRW 300 billion in treasury shares and cancel them in full. Including this additional program, total shareholder returns for 2026 will reach KRW 917.2 billion, the highest annual amount since KRAFTON began its shareholder return program in 2023. KRAFTON will continue its efforts to enhance shareholder value, taking into account business performance, market conditions and financial capacity.
KRAFTON Q1–Q3 2026 Preliminary Earnings
| Cumulative Earnings (Q1–Q3 2026) |
Cumulative Earnings (Q1–Q3 2025) |
YoY % chg | |
| Revenue | 36,330 | 24,069 | +50.9% |
| Operating Profit | 11,975 | 10,519 | +13.8% |
KRAFTON Q3 2026 Preliminary Earnings
| Earnings (Q3 2026) |
Earnings (Q3 2025) |
YoY % chg | |
| Revenue | 9,714 | 8,706 | +11.6% |
| Operating Profit | 2,250 | 3,486 | -35.5% |
▲ Table: KRAFTON’s Q3 2026 (preliminary) earnings on a consolidated basis (unit: KRW 100 million)
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Headquartered in Korea, KRAFTON, Inc. is dedicated to discovering and publishing captivating games that offer fun and unique experiences. Established in 2007, KRAFTON is built on a global network of 19 creative studios that include PUBG STUDIOS, Striking Distance Studios, Unknown Worlds, Neon Giant, KRAFTON Montréal Studio, Bluehole Studio, RisingWings, 5minlab, Dreamotion, ReLU Games, Flyway Games, Tango Gameworks, inZOI Studio, JOFSOFT, Eleventh Hour Games, OmniCraft Labs, Olivetree Games, Loonshot Games, and 9B STUDIO. Each independent studio strives to continuously take on new challenges and leverage innovative technologies. Their goal is to win over more fans by broadening KRAFTON’s platforms and services.
KRAFTON is responsible for premier game IPs, including PUBG: BATTLEGROUNDS, PUBG MOBILE, inZOI, Subnautica, MIMESIS, Hi-Fi Rush, Dinkum, TERA, My Little Puppy, and more. With a passionate and driven team across the globe, KRAFTON is a tech-forward company with world-class development capabilities, continuously exploring new possibilities that enhance the gameplay experience — including AI and other emerging technologies. For more information, visit www.krafton.com.