Odin: Valhalla Rising

Kakao Games Q3 2025 Earnings Announcement

Kakao Games reported its third-quarter 2025 financial results, highlighting a period of mixed performance characterized by a recovery in PC gaming revenue and a return to net profitability despite ongoing operating losses.

• Kakao Games returned to net profitability in Q3 2025 with 34.6 billion KRW in net income, driven by non-operating gains from derivatives and financial income.
• Total quarterly revenue reached 127.5 billion KRW, a 10.1% increase from the previous quarter but a 21.7% decline compared to the same period in 2024.
• PC gaming revenue surged 187.8% quarter-over-quarter to 42.7 billion KRW, largely attributed to successful collaboration updates for Battlegrounds.

Kakao Games 2023 Q1 Earnings Results

Kakao Games reported its financial performance for the first quarter of 2023, reflecting a period of stabilization following the significant losses recorded in the final quarter of 2022.

• Kakao Games reported Q1 2023 revenue of 249.2 billion KRW, a 5.7% increase from the previous quarter but a 6.5% decline year-over-year.
• Operating profit reached 11.3 billion KRW, a 26.6% improvement over Q4 2022, while net profit returned to positive territory at 4.2 billion KRW.
• Mobile games remained the primary revenue driver at 153.9 billion KRW, followed by 81.2 billion KRW from other segments and 14.1 billion KRW from PC games.

Kakao Games 2022 Q4 Earnings Results

Kakao Games reported its financial performance for the fourth quarter and full year of 2022, highlighting a period of record-breaking annual growth tempered by a significant quarterly downturn.

Kakao Games Q4 2021 Earnings Results

Kakao Games reported significant financial growth for the fourth quarter and full fiscal year of 2021, driven primarily by the strong performance of its mobile gaming segment.

• Kakao Games achieved 1.01 trillion KRW in annual revenue for 2021, a 104.3% increase over the previous year.
• Annual net profit grew by 670.7% to 520.3 billion KRW, while annual operating profit rose 71.9% to 114.3 billion KRW.
• Q4 2021 revenue reached 286.7 billion KRW, with mobile games accounting for 200 billion KRW of that total.

Kakao Games Q3 2021 Earnings Results

Kakao Games achieved record-breaking financial performance in the third quarter of 2021, driven primarily by the significant success of its mobile gaming segment.

• Kakao Games reported record Q3 2021 revenue of 466.2 billion KRW, a 209.7% year-over-year increase, and an operating profit of 42.7 billion KRW, up 101.3% year-over-year.
• The mobile title Odin: Valhalla Rising was the primary growth driver, generating over 400 billion KRW in cumulative revenue within its first 110 days of release.
• Mobile gaming revenue surged 358.7% year-over-year to 410.5 billion KRW, while PC game revenue declined by 59.1% compared to the same period in 2020.

Kakao Games Q2 2021 Earnings Results

Kakao Games reported its financial results for the second quarter of 2021, highlighting a period of strategic transition characterized by significant growth in mobile gaming revenue alongside a contraction in overall profitability.

• Kakao Games reported Q2 2021 revenue of 129.5 billion KRW, a 21.5% year-over-year increase driven by an 86.3% surge in mobile gaming revenue.
• Operating profit fell 49.5% year-over-year to 8.1 billion KRW, primarily due to a 34.1% rise in operating expenses and a 310.9% increase in marketing spend for the launch of Odin: Valhalla Rising.
• PC gaming revenue declined by 58.6% year-over-year, signaling a strategic shift in platform focus toward mobile titles.

Kakao Games Q1 2021 Earnings Results

Kakao Games reported its financial performance for the first quarter of 2021, highlighting a period of sustained growth driven by its diverse portfolio of mobile and PC gaming titles.

• Kakao Games reported Q1 2021 revenue of 130.1 billion KRW, a 35% increase year-over-year.
• Net profit reached 18.3 billion KRW, marking a 67.5% growth compared to the same period in 2020.
• Mobile games generated 60.1 billion KRW in revenue, outperforming PC games, which contributed 51.1 billion KRW.

Kakao Games Q4 2020 Earnings Results

Kakao Games reported strong financial growth for the 2020 fiscal year, characterized by significant year-over-year increases in revenue and profitability.

• Kakao Games achieved strong 2020 annual growth with revenue of 495.5 billion KRW (up 26.7%), operating profit of 66.6 billion KRW (up 90.1%), and net profit of 67.3 billion KRW (up 659.2%).
• The company plans to launch over ten new titles in 2021, headlined by the cross-platform MMORPG Odin: Valhalla Rising, to drive domestic and international market share.
• Q4 2020 revenue reached 142 billion KRW, a 34.3% year-over-year increase, though it represented a 5.6% decline compared to the previous quarter.