Key insights
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Key number
Consolidated sales fell 4.4% to €124.2 million.
NACON reported consolidated sales of €124.2 million for the first nine months of fiscal year 2025-26. This is a decline of 4.4% compared with €129.9 million in the same period last year.
What changed
Total game revenue rose 1.9% to €25.9 million.
Total game revenue grew 1.9% to €25.9 million. New catalogue sales rose 39.9% to €13.7 million, driven by titles such as Hell is Us, Cricket 26 and Rennsport.
The drag
Accessories revenue dropped 29.1% to €17.9 million.
Accessories revenue dropped 29.1% to €17.9 million. The United States market is still impacted by customs duties, and the decline eased from 66% in Q2 to 38% in Q3.
What comes next
NACON expects activity comparable to the previous year.
The company has revised its fiscal outlook to expect annual activity comparable to the previous year. It cites continued catalogue releases and anticipated accessory sales in Europe.
Page 2 of the report- 01Expect comparable activityThe company expects annual activity comparable to the previous year.
- 02Release new catalogue titlesContinued releases include Styx: Blades of Greed and GreedFall The Dying World.
- 03Sell accessories in EuropeAnticipated accessory sales include the Switch 2 and RIG R5 PRO HS headset.
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Summary
NACON reported consolidated sales of €124.2 million for the first nine months of fiscal year 2025‑26, a decline of 4.4 % compared with €129.9 million in the same period last year. Total game revenue rose 1.9 % to €25.9 million, driven by a 39.9 % increase in catalogue sales (€13.7 million) from new titles such as Hell is Us, Cricket 26 and Rennsport. Back‑catalogue sales fell 21.8 % to €12.2 million, largely due to a high base and market contraction. Accessories revenue dropped 29.1 % to €17.9 million, with the United States market still impacted by customs duties; the decline eased from 66 % in Q2 to 38 % in Q3. Other mobile and audio sales grew modestly by 4.6 %.
Quarterly performance varied: Q1 saw a 2.9 % drop, Q2 grew 4.5 %, while Q3 declined 12.8 %. The company attributes the Q3 downturn to weaker accessories sales, despite strong catalogue momentum. NACON’s outlook for 2025‑26 remains conservative; it now expects activity comparable to the previous year, citing continued catalogue releases (e.g., Styx: Blades of Greed, GreedFall The Dying World) and anticipated accessory sales in Europe, including the Switch 2 and a new RIG R5 PRO HS headset. The company’s 16 studios, AA publishing arm, and peripheral design capabilities underpin its market position across 100 countries through 25 subsidiaries.
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