BGMI Paying User Base Surges 27% as KRAFTON Hits ₹20,600 Crore Revenue

KRAFTON, Inc. today announced its full year and fourth quarter earnings for 2025 in its investor relations (IR) briefing. Based on consolidated financial statements prepared in accordance with Korean International Financial Reporting Standards (K-IFRS), KRAFTON reported annual revenue of KRW 3.3266 trillion and operating profit of KRW 1.0544 trillion in 2025. Annual revenue increased by KRW 616.8 billion (+22.8%) year-over-year, surpassing KRW 3 trillion for the first time in company history and marking an all-time high. Annual operating profit also exceeded KRW 1 trillion once again.

BGMI Paying User Base Surges 27% – Key Performance Highlights for FY 2025

Annual revenue by business segment recorded KRW 1.1846 trillion from PC, KRW 1.7407 trillion from mobile, KRW 42.8 billion from console, and KRW 358.5 billion from others.

On PC platforms, the PUBG: BATTLEGROUNDS IP reached its highest annual revenue, having recorded 16% year-over-year growth. User engagement and traffic increased, as cultural elements were incorporated into gameplay via major collaborations with global artists and luxury brands, alongside diversified game modes. The November collaboration with luxury automaker Porsche particularly delivered the strongest performance among all supercar collaborations in PUBG history. inZOI and MIMESIS also contributed to revenue growth as they both surpassed one million units sold each since launching in March and October, respectively. With this, fourth quarter PC revenue reached KRW 287.4 billion, up roughly 24% year-over-year.

On mobile, PUBG MOBILE continued to record growth by steadily expanding its core fanbase through new themed modes and World of Wonder (WoW) UGC updates. Additional growth was supported by cross-platform collaborations with PUBG PC and console, reinforcing a virtuous cycle across the broader PUBG IP Franchise and generating long-term growth momentum. BATTLEGROUNDS MOBILE INDIA (BGMI) also maintained stable performance, solidifying its position as a national game through India-exclusive skins, customized premium items, and strategic partnerships with well-known local brands. Compared to 2024, the number of paying users for PUBG MOBILE and BGMI increased by 5% and 27%, respectively.

Other revenue surged 963% year-over-year, as it included the consolidated performance of ADK Group (ADK) and Neptune.

Meanwhile, fourth quarter revenue totaled KRW 919.7 billion. A one-time expense of KRW 81.6 billion relating to a joint labor welfare fund covering the next four years—in line with the company’s plans to relocate to its new headquarters in Seongsu, Korea—was reflected in the quarter’s operating profit, recording KRW 2.4 billion.

KRAFTON’s Business Strategy for 2026

Building on its core gaming business, KRAFTON outlined a strategic vision focused on expanding Franchise IPs with long-term PLCs (Product Life Cycles) and leading future-facing AI innovation. The PUBG IP Franchise will continue to deliver double-digit growth, supported by strong traffic and robust live service operations. On PC and console, KRAFTON will provide culturally enhanced experiences through collaborations with globally renowned IPs, while creating synergy across the franchise through shared content.

PUBG 2.0 Gameplay Is Coming With Unreal Engine 5

In parallel, PUBG will evolve as a PUBG 2.0 gameplay platform, driven by an upgrade to Unreal Engine 5, expanded game modes, and UGC updates. The company will also continue to diversify genres and platforms targeting wider generations and regions through new titles based on the PUBG IP. Key projects include the extraction shooter Black Budget, the top-down tactical shooter PUBG: BLINDSPOT, and the console battle royale Valor.

Under its mid- to long-term strategy centered on Big Franchise IPs, KRAFTON is focusing resources on scaling titles into long-term PLC franchises. inZOI, Last Epoch, and MIMESIS are aimed to become genre-leading IPs through continued improvements in game quality, enhanced live service operations, and diversified content offerings.

To secure new Big Franchise IPs, KRAFTON will explore large-scale M&A opportunities targeted at generating immediate financial performance, while also pursuing small- to mid-scale M&A transactions to boost value by securing IPs with high growth potential. The company is also advancing strategic equity investments and second-party publishing (2PP) of teams with projects nearing release or demonstrated development capabilities.

In terms of first-party production, KRAFTON is developing 15 new projects supported by newly recruited creative leadership and elite, small-scale teams. KRAFTON plans to further expand its development pipeline through its learn-fast, scale-up approach. In line with this strategy, new titles such as Subnautica 2, Palworld Mobile, Dinkum Together, and NO LAW are gearing up for launch as KRAFTON strengthens its IP lineup across a wide range of genres and platforms.

Moreover, KRAFTON plans to expand its business scope and boost its fundamental competitiveness by leveraging its accumulated expertise and assets from its gaming business. The company will focus on delivering new gameplay experiences powered by AI and innovation across production and live service operations, as part of its “AI for Games” initiative. Over the mid- to long-term, KRAFTON will consider opportunities to extend into new frontiers such as physical AI under its “Game for AI” initiative, building on its capabilities and technologies in gaming.

At the same time, KRAFTON will explore adjacent new business areas based on gaming synergy. With ADK, KRAFTON aims to maximize IP PLCs by linking games and animations, while improving marketing efficiency in the Japanese market. Neptune will leverage its advertising technology to expand KRAFTON’s influence in India and use traffic from core titles such as BGMI to unfold India-focused advertising business opportunities.

	Current year’s performance (2025)	Previous year’s performance (2024)	Current performance (Q4 2025)
Revenue	33,266	27,098	9,197
Operating Profit	10,544	11,825	24

▲Table Description: Based on Krafton’s consolidated financial statements, operating (provisional) results for the fourth quarter of 2025 (unit: 100 million won)

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