[Edaily Reporter An Yu-ri ] Kakao Games Corp.(293490), which posted a loss for the eighth consecutive quarter in the third quarter of 2026, has announced that it expects to return to profitability in the first quarter of next year, driven by the success of its new titles. With *The World of Goblin* recording the highest-ever number of active users among the massively multiplayer online role-playing games (MMORPGs) serviced by Kakao Games Corp., the company forecasts that the January release of *Odin Q* will serve as a new growth engine.

Lee Si-woo, Co-CEO of Kakao Games Corp., stated during the third-quarter earnings conference call on the 4th, “With the third quarter marking the low point, a rebound in earnings will begin in the fourth quarter,” adding that “the success of *The World of Goblins* and the consolidation of Me2on Co., Ltd. will be the starting point.” He further noted, “Based on the launch of *Odin Q* in January of next year, we are aiming to return to an operating profit in the first quarter.”

Consolidated revenue for the third quarter, announced that day, was 69.1 billion won, down 46% year-over-year and 8% quarter-over-quarter. The operating loss was 26.3 billion won, with the deficit widening by 3.3 billion won compared to the previous quarter.

*The World of Goblins*, which served as the catalyst for the company’s success, has consistently maintained a top-ranking position in revenue on major app stores since its launch in October. CEO Lee stated, “*The World of Goblins* has achieved the highest-ever user base among games serviced by Kakao Games Corp. and secured the No. 1 spot in revenue on major app stores.”

Co-CEO Kim Tae-hwan emphasized, “*The World of Goblins* is attracting a broad user base that extends beyond MMORPG players to include fans of various genres.” He added, “While users in their 30s make up the largest proportion, we are seeing differentiated demand as players from diverse age groups are joining the game in a balanced manner.”

According to Kakao Games Corp., *The World of Goblins* has secured a broad revenue base centered on small-to-medium spenders rather than relying on a small number of high-spending users. Another key feature is the establishment of a user-centric game economy by limiting each user to running only one game client.

Kakao Games Corp. plans to update major content every two weeks for approximately three months to translate the game’s initial success into long-term performance. The company is also discussing collaborations with external intellectual property (IP) holders. The plan is to expand its revenue base into overseas markets by launching the game globally on mobile and Steam in the second quarter of next year.

CEO Lee stated, “We view *The World of Dokkaebi* and *Odin* as a lineup that will grow both Kakao Games Corp.’s MMORPG user base and revenue scale by each targeting different user demographics,” adding, “Looking at the actual data, *Odin*’s DAU (daily active users) showed a change of only a few dozen users before and after the launch of *The World of Dokkaebi*.”

“Odin Q” to Launch in January… Stable Revenue Generation Through the Acquisition of Me2on

Co., Ltd

In January of next year, the company will simultaneously launch another highly anticipated major title, “Odin Q,” in South Korea, Taiwan, and Japan. Preparations for Odin’s entry into the Chinese market are also gaining momentum. Co-CEO Lee said, “We received the foreign investment license for Odin in China last week,” adding, “The Odin IP, which has been proven over the past five years, has laid the groundwork for entering China, one of the world’s largest gaming markets.”

The company will also continue to diversify its business through new PC and console titles. On the same day, its subsidiary XL Games launched “ArcheAge Chronicles” on Steam Early Access. Kakao Games Corp. will officially release “Path of Exile 2” this coming December. Next year, the company plans to sequentially release new titles such as “God Save Birmingham,” “Guardian Maiden,” “Chrono Odyssey,” and “ArcheAge S.” However, “Dungeon Arise,” which was originally scheduled for release in the fourth quarter, has been excluded from the earnings forecast as the company is reevaluating its service direction following a closed beta test.

The company is also pursuing mergers and acquisitions (M&A) to address its business structure, which relies heavily on new titles. Last September, Kakao Games Corp. signed an agreement to acquire a 39.6% stake in Me2on Co., Ltd. for approximately 98 billion won. The transaction is expected to be finalized during the fourth quarter, at which point the investment will be consolidated into the company’s financial results.

CEO Lee stated, “Me2on Co., Ltd and its subsidiary GHOST STUDIO have provided long-term services for social casino and casual games, primarily in overseas markets such as North America, generating steady revenue and profits that are not dependent on the success of new titles,” adding, “This will complement our business portfolio, which has historically experienced significant earnings volatility due to its reliance on major new releases.”

The company expects its consolidated net debt to decrease by approximately 30 billion won following the acquisition of Me2on Co., Ltd.

The company will also pursue financial restructuring and shareholder return policies in parallel. Kakao Games Corp. has completed the transfer of retained earnings through a reduction in capital reserves and the purchase of treasury stock by management. Early repayment of borrowings is scheduled to proceed sequentially starting early next year. The company plans to expand marketing investments based on the performance of new titles while efficiently managing costs based on projected revenue and user metrics.