Subnautica and PUBG franchises drive Krafton Q2 revenue up 94.9% to $889.1m

Krafton’s second quarter was powered by two very different live franchises: Unknown Worlds’ Subnautica and the long-running PUBG business. Revenue climbed to ₩1.29 trillion ($889.1 million), while operating profit reached ₩410.9 billion ($283.1 million), marking the company’s strongest quarter to date.

Subnautica 2 launched in Early Access in May and crossed five million units sold in just 22 days. The broader Subnautica IP, including the original game and Below Zero, generated ₩232.5 billion ($160.2 million) in first-half revenue, showing that the sequel is landing as a meaningful commercial driver rather than a niche follow-up.

PUBG also kept growing, with revenue up 25% year over year as Krafton continues to build out the franchise as a content platform. That expansion includes a central gameplay platform and more “cultural collaborations” with outside IP and brands, which is a useful reminder that modern franchise management now extends well beyond shipping a sequel.

For developers, the interesting part is the mix of business models at work: Early Access momentum on one side, and long-tail franchise monetization on the other. Krafton also settled its dispute with Unknown Worlds’ former leadership and agreed to pay the disputed $250 million bonus, while planning to reveal five new titles at Gamescom, including a new PUBG project, all targeted for release by 2027.