ReportNEXON Co.
Nexon Releases Earnings for Fourth Quarter and Full-Year 2025
12 Feb 20265 pages~13 min full read
Nexon achieved record full-year 2025 revenue of ¥475.1 billion, a 6% year-over-year increase, with operating income holding steady at ¥124.0 billion.
See it on page 1The new title ARC Raiders was a major growth driver, selling over 14 million units within 15 weeks and reaching a peak of 960,000 concurrent users.
See it on page 1The 22-year-old MapleStory franchise reached record annual revenue with 43% year-over-year growth, helping to offset a 21% decline in the Dungeon&Fighter franchise.
See it on page 3Q4 net income dropped 66% to ¥10.9 billion due to foreign exchange fluctuations, increased platform fees, and performance bonuses.
See it on page 2A player trust initiative following a coding error in MapleStory: Idle RPG resulted in a ¥9 billion revenue reduction in Q4 due to full customer refunds.
See it on page 2Nexon is prioritizing shareholder returns, having doubled its dividend and completed a ¥100 billion share buyback program during the 2025 fiscal year.
See it on page 4The company projects Q1 2026 revenue growth between 32% and 44%, driven by continued momentum from new titles and core IP updates.
See it on page 4Nexon reported record-breaking financial results for the fiscal year ended December 31, 2025, driven by a strategic IP growth initiative that balanced the expansion of legacy franchises with successful new global launches. Full-year revenue reached ¥475.1 billion, a 6% increase year-over-year, while operating income remained stable at ¥124.0 billion. The fourth quarter saw a significant revenue surge of 55% to ¥123.6 billion, although net income declined 66% to ¥10.9 billion, primarily due to fluctuations in foreign exchange gains compared to the previous year and higher-than-anticipated costs related to performance bonuses and platform fees.
The growth was spearheaded by the launch of ARC Raiders, which sold over 14 million units within 15 weeks and achieved a peak of 960,000 concurrent users. Simultaneously, the 22-year-old MapleStory franchise delivered its highest annual revenue in history, growing 43% year-over-year. This performance offset a 21% decline in the Dungeon&Fighter franchise, despite a strong recovery in its PC segment in China and Korea. The period was also marked by a significant player trust initiative regarding MapleStory: Idle RPG; a coding error led Nexon to offer full refunds, resulting in a ¥9 billion reduction in Q4 revenue.
Geographically, the results reflect Nexon’s successful diversification beyond its traditional Asian strongholds into Western markets via console and PC platforms. Looking ahead to the first quarter of 2026, the company expects revenue growth between 32% and 44%, supported by sustained momentum from new titles and major updates to core IPs. Nexon remains committed to aggressive shareholder returns, doubling its dividend and completing a ¥100 billion share buyback program during the fiscal year.
