Nexon Earnings Results: Second Quarter 2026

Key insights

6 takeaways

01
Nexon reported Q2 2026 revenue of ¥121.1 billion and operating income of ¥31.3 billion, both exceeding internal projections.See it on page 5
02
Net income rose 77% year-over-year to ¥29.6 billion, driven by valuation gains and reduced foreign exchange losses.See it on page 5
03
Management announced a special dividend of ¥415 per share, totaling approximately ¥324 billion ($2 billion), funded by a cash reserve of ¥842 billion.See it on page 1
04
The MapleStory franchise achieved record-breaking revenue, while the ARC Raiders franchise reached 16.3 million cumulative unit sales.See it on page 2
05
Q3 2026 revenue is projected to grow between 2% and 12% year-over-year, though operating income is expected to decline due to increased marketing and service costs.See it on page 5
06
Future growth initiatives include the development of Arad: Idle RPG, MABINOGI MOBILE, and a major content update for ARC Raiders titled Frozen Trail scheduled for October.See it on page 3

Summary

Nexon’s second-quarter 2026 financial results demonstrate strong operational performance, characterized by record-breaking revenue from the MapleStory franchise and a strategic shift toward capital efficiency. The company reported quarterly revenue of ¥121.1 billion and operating income of ¥31.3 billion, both exceeding internal outlooks. Net income reached ¥29.6 billion, representing a 77% year-over-year increase, bolstered by valuation gains and reduced foreign exchange losses compared to the previous year.

The company’s financial health is underpinned by a robust cash reserve of ¥842 billion, accumulated through steady returns from established franchises and successful divestitures. Consequently, management announced a special dividend of ¥415 per share, totaling approximately ¥324 billion, or $2 billion. This capital allocation strategy aims to improve efficiency while maintaining sufficient liquidity to fund future growth initiatives, including a diverse pipeline of upcoming titles such as Arad: Idle RPG, MABINOGI MOBILE, and various projects scheduled for 2027 and beyond.

Operational results reflect a transition in product mix, with increased revenue-linked costs—including user acquisition, cloud services, and creator fees—impacting operating margins. While core franchises like MapleStory delivered significant growth, others experienced expected fluctuations. The ARC Raiders franchise remains a key contributor, surpassing 16.3 million cumulative unit sales, with a major content update, Frozen Trail, scheduled for October. Looking ahead to the third quarter of 2026, the company projects continued revenue growth between 2% and 12% year-over-year, supported by ongoing live service updates and regional expansions, despite anticipated year-over-year declines in operating income due to higher marketing and service-related expenditures.