NEXON Consolidated Financial Results: Three Months Ended March 31, 2026

Key insights

6 takeaways

01
Nexon reported record Q1 2026 results with ¥152,234 million in revenue and ¥58,163 million in operating profit, marking year-over-year growth of 33.6% and 39.8% respectively.See it on page 7
02
Growth was primarily driven by the MapleStory franchise, the global performance of ARC Raiders, and strong expansion in North American and European markets.See it on page 5
03
Management launched a share buyback program of up to ¥30,000 million to improve capital efficiency following the strong quarterly performance.See it on page 22
04
The company projects a revenue decline for Q2 2026 due to difficult year-over-year comparisons and expected performance softening in the Dungeon&Fighter and MABINOGI MOBILE franchises.See it on page 8
05
Rising operating costs are anticipated in the coming months, driven by increased headcount and intensified marketing investments.See it on page 8
06
Currency volatility poses a significant risk, with every one-yen movement against the U.S. Dollar impacting revenue by approximately ¥710 million and operating profit by ¥142 million.See it on page 7

Summary

Nexon achieved record-breaking financial performance during the first quarter of 2026, reporting consolidated revenue of ¥152,234 million and an operating profit of ¥58,163 million. These figures represent year-over-year growth of 33.6% and 39.8%, respectively. This expansion was primarily fueled by the sustained strength of the MapleStory franchise and the successful global momentum of ARC Raiders. Furthermore, the company benefited from significant revenue gains across North American and European markets, supplemented by a substantial foreign exchange gain of ¥14,537 million. In response to these robust results, management initiated a share buyback program of up to ¥30,000 million to enhance capital efficiency and provide greater policy flexibility.

Despite this strong start, the outlook for the second quarter of 2026 remains cautious. Projections indicate a year-over-year revenue decline, attributed to difficult comparisons with the previous year and anticipated performance softening in the Dungeon&Fighter and MABINOGI MOBILE franchises. While MapleStory and ARC Raiders are expected to continue contributing positively, the company anticipates rising operating costs stemming from increased headcount and intensified marketing investments.

The company remains sensitive to macroeconomic volatility, particularly regarding currency fluctuations. Estimates suggest that every one-yen movement against the U.S. Dollar impacts revenue by approximately ¥710 million and operating profit by ¥142 million. Given these variables and the inherent unpredictability of the global gaming sector, the company maintains a conservative forecast for the remainder of the six-month period, balancing its ongoing IP Growth Initiative against potential market headwinds.