Bengaluru – KRAFTON, Inc. held an Investor Relations (IR) briefing on April 29, announcing its earnings for the first quarter of 2025.
Based on consolidated financial statements in accordance with Korean International Financial Reporting Standards (K-IFRS), KRAFTON reported its highest-ever quarterly performance of 874.2B KRW in sales and 457.3B KRW in operating profit for the first quarter of 2025. Compared to the same period last year, sales increased by 31.3% and operating profit by 47.3%, once again topping the company’s quarterly performance records.
Key achievements in the first quarter of 2025 and direction for core IPs
KRAFTON maintained solid growth with increased sales by business division, as follows: PC 323.5B KRW, Mobile 532.4B KRW, and Console/Others 18.3B KRW. For the PC platform, diversified content centered on the PUBG: BATTLEGROUNDS (PUBG) IP and strong live service operations drove performance in the first quarter. The early success of the new IP, inZOI, also played a key role. The mobile platform contributed to the rise in sales with premium items, IP collaborations, and localization strategies. BATTLEGROUNDS MOBILE INDIA (BGMI) collaborated with prominent local brands such as the Indian automobile manufacturer Mahindra, generating a positive player response and achieving the most sales for localized BGMI content.
The all-time high first quarter performance was largely driven by the expansion of the PUBG IP Franchise and the company’s strategy to secure a ‘Big Franchise IP.’ Since its F2P (Free-to-play) transition, PUBG has demonstrated its value as a sustainable service, surpassing 1.4 million total concurrent users in March. Going forward, KRAFTON plans to boost player experience through content enhancements such as artist and brand collaborations, as well as the introduction of new maps and modes. The company will also accelerate the expansion of platforms and genres through new titles based on the PUBG IP, aiming to reach a new generation of players and global markets. Key upcoming titles in alignment with this direction include the extraction shooter Project Black Budget, the console battle royale Project Valor, and the top-down tactical shooter PUBG: BLINDSPOT. In addition, by transitioning to photorealistic graphics empowered by Unreal Engine 5 and introducing user-generated content (UGC), KRAFTON aims to deliver a fresh player experience and ultimately evolve PUBG into a ‘PUBG 2.0’ gameplay platform.
inZOI launched on March 28 in Early Access and sold over one million copies in its first week, making it the fastest-selling game for a KRAFTON IP, including PUBG. Roughly 95% of its sales occur overseas, demonstrating once again the potential for global success of a KRAFTON original IP, following in the footsteps of PUBG. KRAFTON plans to introduce new gameplay experiences to the market with the advancement of AI—such as Smart Zoi, which utilizes CPC (Co-Playable Character) technology—while also developing the game into a Big Franchise IP capable of long-term service worldwide.
Major new titles and business strategy in India
KRAFTON is pursuing a development and publishing strategy tailored for each of its upcoming titles. A key example is the PC survival life simulation game Dinkum, for which KRAFTON began publishing in February and expanded language options to 14, hitting a full-scale push into the global market with its official launch on April 23. The company plans to strengthen the game’s foundation for an IP franchise by expanding to new platforms and growing its player community through console support and the launch of its spin-off, Dinkum Together. Subnautica 2 is scheduled to launch in Early Access later this year, as it implements a community snowballing publishing strategy by actively incorporating player feedback and reviews into the game.
In India, a core strategic market, KRAFTON is further solidifying its position as a publisher built on BGMI’s strong growth. In addition to activating various collaborations, the company aims for expansion through content and marketing initiatives that attract local players. In March, KRAFTON acquired a controlling stake in Indian studio Nautilus Mobile and secured the IP of Real Cricket, India’s leading mobile cricket game with 250 million cumulative downloads and an MAU of 10 million. KRAFTON will continue to strengthen its regional strategy to expand its player base, actively pursue new title publishing, and explore various new business opportunities in search of the next BGMI.
| Current quarter performance (Q1 2025) | QoQ performance (Q4 2024) | QoQ change (%) | YoY performance (Q1 2024) | YoY change (%) | |
| Sales | 8,742 | 6,176 | 41.6 | 6,659 | 31.3 |
| OP | 4,573 | 2,155 | 112.2 | 3,105 | 47.3 |
▲Table: KRAFTON’s (preliminary) business results for the first quarter of 2025 based on consolidated financial statements (Unit: KRW 100M)
