Nexon Q3 2025 Earnings Prepared Remarks

Nexon’s Q3 2025 earnings report highlights the successful execution of its IP Growth Initiative, a strategy focused on revitalizing established franchises through content updates and global expansion while simultaneously launching new titles. The company reported Q3 revenue of ¥118.7 billion and operating income of ¥37.5 billion, both aligning with internal projections. A central pillar of this performance is the MapleStory franchise, which is on track for its highest annual revenue in 22 years, with 40% of its earnings now generated outside of its primary Korean market.

The company’s growth strategy is supported by both vertical expansion of existing intellectual property and horizontal growth through new releases. Notably, the October 30 launch of ARC Raiders has emerged as a significant driver, selling over 4 million units and reaching the top spot on Steam’s best-seller list. Furthermore, the company continues to leverage strategic partnerships, particularly with Tencent, to facilitate the entry of titles like Dungeon&Fighter Mobile and THE FINALS into the Chinese market.

Looking toward Q4, Nexon anticipates strong year-over-year growth, projecting revenue between ¥115.8 billion and ¥129.3 billion. This outlook is bolstered by the continued momentum of the MapleStory and FC franchises, alongside contributions from new titles and the expansion of the MapleStory: Idle RPG. Despite increased variable costs and marketing expenditures associated with these launches, the company maintains a robust financial position. Reflecting confidence in its long-term cash flow, the board of directors approved a doubling of the year-end dividend to ¥30 per share and authorized the final ¥25 billion tranche of its ¥100 billion share buyback program, underscoring a commitment to enhancing shareholder value alongside sustained operational investment.