Pearl Abyss reported preliminary second-quarter 2026 revenue of 192.6 billion won and operating profit of 67.6 billion won, up 247.7% and 7,411.1% from a year earlier as Crimson Desert sales drove growth, but results missed FnGuide consensus and triggered a 14% share-price drop on Aug. 12. The company said deferred revenue tied to refund guarantees, physical package timing and conservative recognition weighed on reported sales, while Nomura Securities cut its target price 59% to 38,000 won from 92,000 won and downgraded the stock to Neutral from Buy after management lowered full-year 2026 guidance. Pearl Abyss now expects 2026 revenue of 709.8 billion won to 743.8 billion won and operating profit of 315.5 billion won to 345.2 billion won, down from prior guidance of 879.0 billion won to 975.4 billion won and 487.6 billion won to 572.6 billion won, while it prepares DLC, a Nintendo Switch 2 version in the first half of 2027 and a second-half 2028 release window for DokeV.