Updated Mar 17, 2026 by Nacon
Financial · April 28, 2025
Published by Nacon
NACON reports consolidated sales of €167.9 million for the 2024/25 financial year ending March 31, 2025, representing a marginal increase of 0.1% compared to the previous year. While the company faced a 3.8% decline in gaming revenue due to a limited release schedule in the fourth quarter, this was offset by a 4.1% increase in accessories sales and a robust performance in back-catalogue titles. Back-catalogue sales grew by 31.2% over the full year to reach €58.6 million, demonstrating the sustained value of the company’s existing intellectual property. The financial results reflect a transitional period marked by the strategic postponement of several key games and hardware products into the 2025/26 fiscal year. Consequently, while annual sales remained stable, operating income is expected to be lower than the previous year, though it remains slightly positive. The fourth quarter specifically saw a 7.1% decline in sales, attributed to the lack of major new releases compared to the prior year’s success with high-performing titles like Robocop: Rogue City. Looking ahead, the company forecasts sharp business growth for the 2025/26 financial year, driven by a significantly busier release schedule featuring over ten games across sports, racing, adventure, and simulation genres. The accessories segment is also expected to expand following the launch of new Xbox controllers, premium racing peripherals, and a dedicated range for the upcoming Nintendo Switch 2. To support this growth and mitigate supply chain risks, the company is diversifying its manufacturing, utilizing facilities in Vietnam and preparing a new controller production site in France scheduled to open in late 2025.
Press release Lesquin, 28 April 2025, 6:00pm CEST SALES FOR THE 2024/25 FINANCIAL YEAR: €167.9 MILLION OUTLOOK FOR 2025/26: SHARP INCREASE IN BUSINESS LEVELS STARTING IN THE FIRST HALF NACON (ISIN FR0013482791), a developer of video games and creator of premium accessories, is today reporting its consolidated sales for the 2024/25 financial year (period from 1 April 2024 to 31 March 2025). Sales (IFRS) 2024/25 2023/24 Change € million First quarter (April-June) 32.3 35.5 -9.0% Second quarter (July-September) 44.8 32.3 +38.5% Third quarter (October-December) 52.9 59.0 -10.3% Fourth quarter (January–March)<sup>(1)</sup> 38.0 41.0 -7.1% Gaming 26.0 26.4 -1.6% Accessories 11.0 13.8 -20.7% Other<sup>(2)</sup> 1.1 0.7 +47.9% Full year (April–March)<sup>(1)</sup> 167.9 1
Accessories 11.0 13.8 -20.7% Other<sup>(2)</sup> 1.1 0.7 +47.9% Full year (April–March)<sup>(1)</sup> 167.9 167.7 +0.1% Gaming 97.1 101.0 -3.8% Accessories 65.2 62.7 +4.1% Other<sup>(2)</sup> 5.6 4.1 +38.0% (1) Unaudited figures (2) Mobile and Audio sales Fourth-quarter 2024/25 sales: €38.0 million Gaming sales totalled €26.0 million during the quarter, a decrease of 1.6%. Catalogue sales (new games) amounted to €9.9 million, down 35.8%. As previously announced, the release schedule in the fourth quarter was limited, consisting of only two games: Rugby25<sup>TM</sup> and Ambulance Life<sup>TM</sup> . In the same period of 2023/24, by contrast, sales were boosted by the exceptional success of Robocop: Rogue City<sup>TM</sup> and the release of four new games, including Welcome to Paradize<sup>TM</sup> and Taxi Life<sup>TM</sup> . The performance of the Back Catalogue (games released in previous years) remained excellent. Back Catalogue sales rose by 46.5% to €16.1 million in the fourth quarter. Over the full year, they were up 31.2% to €58.6 million.
axi Life<sup>TM</sup> . The performance of the Back Catalogue (games released in previous years) remained excellent. Back Catalogue sales rose by 46.5% to €16.1 million in the fourth quarter. Over the full year, they were up 31.2% to €58.6 million. Sales in the Accessories business totalled €11.0 million after the launches of the REVOSIM range and the Xbox Revolution X Unlimited controller were postponed until the 2025/26 financial year.
After NACON postponed the launch of several games and accessories to the 2025/26 financial year, its sales rise slightly to €167.9 million as previously forecast. As expected, operating income will be lower than in the previous year, but should remain slightly positive. Outlook: strong growth in 2025/26 In the Gaming business, NACON will benefit from a much busier release schedule in 2025/26 than in 2024/25. Several major games will be released in the first half of the year, with very little risk of postponement. The line-up for 2025/26 includes over 10 games in all four of NACON’s specialist genres. - Sport: AFL<sup>TM</sup> , Rugby League<sup>TM</sup> - Racing: Rennsport<sup>TM</sup> , Endurance<sup>TM</sup> - Adventure: Robocop: Rogue City - Unfinished Business<sup>TM</sup> Dragonkin<sup>TM</sup> , Styx: Blades of Greed<sup>TM</sup> - Simulation: Architect Life<sup>TM</sup> , Cricket26<sup>TM</sup> , Pro Cycling Manager<sup>TM</sup> , Tour de France<sup>TM</sup> , and seasons 4-6 of Test Drive Unlimited: Solar Crown<sup>TM</sup> , , Hell is Us<sup>TM</sup> , Edge of Memories<sup>TM</sup> , , and downloadable content (DLC) relating to several successful games. The small number of games released in 2024/25 meant that Back Catalogue sales in 2025/26 are likely to be similar to the level achieved last year.
, Hell is Us<sup>TM</sup> , Edge of Memories<sup>TM</sup> , , and downloadable content (DLC) relating to several successful games. The small number of games released in 2024/25 meant that Back Catalogue sales in 2025/26 are likely to be similar to the level achieved last year. The Accessories business should also see firm growth, particularly in the first half with: - the launch of the Xbox Revolution X Unlimited controller in April; - the launch of several products in the REVOSIM range of premium racing accessories in June, including the RS Pure steering wheel, the DD-9Nm base and the RS Pure pedal set; - the arrival in June of the Nintendo Switch<sub>TM</sub> 2 console, for which NACON already has a full range of accessories. This new console should also boost sales of NACON’s video games. As regards sales in the United States, NACON has already been making a large proportion of its products in Vietnam in recent years. Inventories in the United States are sufficient to meet local demand in the next few months.
This new console should also boost sales of NACON’s video games. As regards sales in the United States, NACON has already been making a large proportion of its products in Vietnam in recent years. Inventories in the United States are sufficient to meet local demand in the next few months. In addition, the production site currently being built in Lauwin-Planque in France should be up and running in the second half of the 2025/26 financial year. The site will focus on producing controllers. With its strong positions in two business areas, a busy release schedule in the current financial year and numerous upcoming product launches in the Accessories business, NACON is likely to achieve strong sales growth in 2025/26, starting in the first half. Next events: FY 2024/25 results press release to be published on 2 June 2025 (after the market close) FY 2024/25 results presentation meeting at 11:00am CEST on 3 June 2025 ABOUT NACON
NACON reported consolidated sales of €52.9 million for the third quarter of the 2024/25 financial year, representing a 10.3% decrease compared to the same period last year. Despite this quarterly dip, total sales for the first nine months reached €129.9 million, a 2.5% increase over the previous year. The performance reflects a divergence between the gaming and accessories segments, with gaming revenue falling 23.7% to €25.4 million due to a lack of major new releases compared to the prior year’s success of RoboCop: Rogue City. However, back-catalogue sales grew by 24.5% to €15.6 million, validating the long-term value of the existing portfolio. The accessories division grew by 5.3% to €25.2 million, driven by strong demand for RIG headsets and Revolution 5 Pro controllers in the United States and Australia. This growth occurred despite the postponement of several key products, including the Cobra seat and the Xbox Revolution X Unlimited controller, into 2025. To enhance supply chain efficiency and internalize value, the company announced plans for a new accessory production plant in France, expected to be operational later in 2025. Looking ahead, the company expects a slight increase in full-year sales but anticipates a potential decrease in operating income due to product delays. The outlook for the 2025/26 financial year remains optimistic, supported by a busy release schedule of approximately ten new games and the anticipated launch of the Nintendo Switch 2. NACON plans to capitalize on this new hardware with a dedicated range of compatible games and accessories, forecasting strong growth for the first half of the upcoming fiscal year.
NACON’s financial results for the fiscal year ending March 31, 2025, reflect a period of transition characterized by stable revenue and strategic postponements. Total sales reached €167.9 million, consistent with the previous year, despite the decision to delay several high-profile games and accessories into the 2025/26 cycle. The Gaming division contributed €97.1 million to this total, while Accessories accounted for €65.2 million. Although gross margin improved to 64.4%, operating income fell sharply to €1.1 million, down from €20.9 million the prior year. This decline was primarily driven by an €8.5 million increase in depreciation and amortization following the release of Test Drive Unlimited, alongside higher interest expenses. Consequently, the company reported a net loss of €1.3 million. The company maintains a solid balance sheet with €284.4 million in equity and €29.3 million in available cash. Management has opted not to propose a dividend for the 2024/25 period, focusing instead on a robust pipeline of 40 games currently under development with a carrying value of €124.5 million. A significant highlight is the new exclusive licensing agreement with WRC Promoter, securing World Rally Championship rights for PC and consoles from 2027 through 2032. Looking ahead to the 2025/26 fiscal year, NACON anticipates strong growth in both business activity and operating income. The release schedule is heavily weighted toward the first half of the year, featuring titles such as Robocop: Rogue City – Unfinished Business and Hell is Us, alongside a suite of sports and simulation games. The Accessories division is expected to benefit from the launch of the REVOSIM range and the development of 30 dedicated products for the upcoming Nintendo Switch 2. These initiatives, combined with rigorous financial discipline, underpin a positive outlook for the coming year.
Nacon reported consolidated sales of €32.3 million for the first quarter of the 2024/25 financial year, covering the period from April to June 2024. This represents a 9.0% decrease compared to the same period in the previous year, primarily driven by a high base of comparison in the gaming segment. While overall gaming sales fell 27.1% to €17.8 million due to a lighter release schedule for new titles, the company saw significant growth in other areas. Back-catalogue sales rose 17.9% to €14.0 million, bolstered by the continued performance of titles like Robocop: Rogue City, while the accessories division grew 27.5% to €13.3 million, fueled by strong demand for premium controllers and headsets in the United States and Australia. The strategic outlook remains optimistic as the company expects to resume growth in the second quarter. This confidence is supported by a robust release pipeline featuring approximately 15 games for the full year, including high-profile titles such as Test Drive Unlimited: Solar Crown, which has already set internal records for pre-orders. Additionally, the accessories segment is expected to benefit from the launch of the new REVOSIM brand, positioning the company as a comprehensive provider of both software and hardware for the motor racing market. Despite the initial quarterly dip in revenue, management has confirmed its full-year targets for growth and increased operating income. The company’s financial position was further strengthened by a successful capital increase in July 2024, providing additional resources to develop its gaming pipeline. With 16 development studios and a distribution network spanning 100 countries, the group aims to leverage synergies between its AA publishing activities and its premium peripheral business to maintain its competitive advantage in the global video game market.
Nacon reported consolidated revenue of €31.3 million for the first quarter of the 2025-26 fiscal year, covering the period from April 1 to June 30, 2025. This performance represents a slight overall decrease of 2.9% compared to the previous year but remains aligned with the group's strategic objectives. The results highlight a divergence between the software and hardware segments, with gaming activity growing by 10.4% to reach €19.7 million, while the accessories division declined by 18.8% to €10.8 million. The growth in gaming revenue was primarily fueled by a 46.4% surge in new catalogue sales, led by the strong performance of sports titles such as Tour de France 2025 and Pro Cycling Manager 25, which saw year-over-year sales increases of 25% and 35% respectively. The back catalogue remained stable at €14.0 million. Conversely, the accessories segment faced challenges due to a weak U.S. market impacted by customs duties and an unfavorable basis of comparison, though this was partially mitigated by 22% growth in the European market driven by Nintendo Switch 2 peripherals and the Xbox Revolution X Unlimited controller. Looking ahead, the group anticipates strong growth in the second quarter and throughout the remainder of the fiscal year. This outlook is supported by a robust release schedule including Rugby League 26, Robocop: Rogue City – Unfinished Business, and the highly anticipated Hell is Us, which has secured nearly one million wishlists. With approximately ten titles scheduled for the second half of the year and continued innovation in the Revosim and Switch 2 accessory lines, the group confirms its targets for the full 2025-26 fiscal year.