Bengaluru (Karnataka) [India], November 11: KRAFTON, Inc. today announced its third quarter earnings for 2026.
Third quarter revenue reaches KRW 971.4 billion, up 11.6% year-over-year
Third quarter operating profit reaches KRW 225 billion, down 35.5% year-over-year
Revenue and operating profit reach record highs for the first nine months of 2026, growing 51% and 14% year-over-year, respectively
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.
The PUBG IP Franchise continued to achieve solid growth, with cumulative revenue through Q3 up 11% year-over-year. PUBG: BATTLEGROUNDS maintained double-digit growth in monthly active users (MAU) on PC and console. In September, the game expanded its range of IP collaborations with the anime IP JUJUTSU KAISEN, drawing a positive response from players.
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%
Table: KRAFTON’s cumulative Q1–Q3 2026 (preliminary) earnings on a consolidated basis (unit: KRW 100 million)
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)
About KRAFTON, Inc.
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
About KRAFTON India
In India, KRAFTON is responsible for premier mobile games, including BATTLEGROUNDS MOBILE INDIA (BGMI), which has surpassed 200 million downloads, Bullet Echo India, Road To Valor: Empires, and CookieRun India, among others. Committed to enhancing the start-up ecosystem in India, KRAFTON has invested over $200 million in several Indian startups across interactive entertainment, gaming, Esports, and technology, since 2021. KRAFTON actively supports India’s game development ecosystem through its KRAFTON India Gaming Incubator (KIGI) while strengthening the Esports ecosystem with flagship events like the BATTLEGROUNDS MOBILE INDIA SERIES (BGIS) and BATTLEGROUNDS MOBILE INDIA PRO SERIES (BMPS). For more information, visit https://krafton.in/
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