Nexon Q1 2026 Investor Presentation

Key insights

7 takeaways

01
Nexon reported record Q1 2026 financial results with revenue reaching ¥152.2 billion (up 34% YoY) and operating income hitting ¥58.2 billion (up 40% YoY).See it on page 11
02
PC and console revenue surged by 52%, driven by the success of ARC Raiders, which sold over 16 million units, and sustained performance from the MapleStory franchise.See it on page 15
03
Despite revenue growth, PC and console monthly active users and paying users declined by 16% and 17%, respectively, signaling potential long-term engagement challenges.See it on page 13
04
Nexon anticipates a revenue decline in Q2 2026 due to weaker performance in the Chinese market and difficult year-over-year comparisons against previous major launches.See it on page 20
05
To support shareholder value, the company initiated a ¥30 billion share buyback program and forecasted an annual dividend of ¥60 per share.See it on page 23
06
International expansion in North America and Europe successfully offset a contraction in the Japanese market and declining mobile revenue from the Dungeon&Fighter franchise.See it on page 5
07
The company’s 2026–2027 development pipeline focuses on franchise revitalization through upcoming titles including Dungeon&Fighter: Idle RPG, NAKWON: LAST PARADISE, and Dungeon&Fighter Classic.See it on page 28

Summary

Nexon achieved record-breaking financial results in the first quarter of 2026, characterized by a 34% year-over-year revenue increase to ¥152.2 billion and a 40% rise in operating income to ¥58.2 billion. This growth was primarily fueled by a 52% surge in PC and console revenue, bolstered by the commercial success of ARC Raiders, which surpassed 16 million units sold, alongside sustained momentum within the MapleStory franchise. These gains successfully expanded the company’s footprint across North America, Europe, and other international markets, effectively offsetting a contraction in the Japanese sector and a decline in mobile revenue for the Dungeon&Fighter franchise.

Despite these strong top-line figures, the company faces underlying operational challenges. Key performance indicators for the PC and console segments reveal a concerning trend, as monthly active users and paying user counts dropped by 16% and 17%, respectively. Furthermore, the outlook for the second quarter of 2026 remains cautious, with anticipated year-over-year revenue declines stemming from weaker performance in the high-margin Chinese market and difficult year-over-year comparisons against previous major product launches.

To maintain investor confidence amidst these mixed signals, the company has prioritized capital allocation through a ¥30 billion share buyback program and a forecasted annual dividend of ¥60 per share. Looking toward the future, the development pipeline remains focused on long-term growth, with upcoming titles such as Dungeon&Fighter: Idle RPG, NAKWON: LAST PARADISE, and Dungeon&Fighter Classic scheduled for release between 2026 and 2027. These initiatives reflect a strategic effort to balance immediate financial volatility with a commitment to sustained shareholder value and franchise revitalization.