NEXON Co.

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Nexon Q3 2024 Earnings Release

Nexon Co., Ltd. – Q3 2024 Earnings Press Release (Nov 12 2024)

1. Core Financial Results (Q3 2024, ended Sept 30 2024)

| Metric | FY 2024 Q3 | YoY Change | Constant‑Currency (CC) | |--------|------------|------------|------------------------| | Revenue | ¥135.6 bn | +13 % (as‑reported) / +12 % (CC) | Slightly below outlook (FX headwind) | | Operating Income | ¥51.5 bn | +11 % (as‑reported) / +10 % (CC) | Within expected range | | Net Income | ¥27.0 bn | ‑23 % (as‑reported) / ‑24 % (CC) | Impacted by ¥19.6 bn FX loss | | FX Impact | – | Revenue hit by adverse yen movements; FX loss drove net‑income decline |

All figures are in Japanese yen (¥).

2. Growth Drivers & Franchise Performance

| Franchise | Q3 2024 Growth | Highlights | |-----------|----------------|------------| | Dungeon & Fighter (DnF) | +142 % YoY (overall franchise) | • Launch of DnF Mobile in China (May 21) • New updates & “New Year” content for both mobile & PC in China (Q4 2024 / Q1 2025) • Upcoming titles: The First Berserker: Khazan, DnF: Arad, Project OVERKILL | | MapleStory | +23 % YoY (outside Korea) | • Outside‑Korea revenue > 40 % of total • Record Q3 sales in Japan, NA, EU & Rest‑of‑World (hyper‑localization) • Soft‑launch of MapleStory Worlds (NA & SA) • Large Q4 test for MapleStory N (PC MMORPG with blockchain) | | FC (Fighting‑Club) Franchise | Slight decline YoY (tough comparison to record Q3 2023) | • Expect double‑digit YoY growth in Q4 2024 • Full‑year revenue projected near 2023 record | | New IP – The First Descendant | Strong start (July launch) | • ~75 % of global revenue from Western markets • Ongoing updates planned to cement it as a “consistent contributor” |

3. Strategic Initiatives

| Initiative | Focus | Key Actions | |------------|-------|-------------| | Vertical Growth Initiative | Deepen existing franchises | • Product extensions, new platforms, regional expansion, hyper‑localization • New titles & major content updates (see DnF & MapleStory) | | Horizontal Growth Initiative | Add new pillars to the portfolio | • Shooters – The First Descendant, THE FINALS (Season 5 in Dec), ARC Raiders (public test Oct, release 2025) <br

Nexon reported Q3 2024 revenue of ¥135.6 billion, a 13% year-over-year increase, driven primarily by the successful launch of Dungeon & Fighter Mobile in China.
The Dungeon & Fighter franchise saw a 142% year-over-year revenue increase, bolstered by its mobile expansion and a pipeline of upcoming titles including The First Berserker: Khazan and Project OVERKILL.
Net income fell 23% to ¥27.0 billion due to a ¥19.6 billion foreign exchange loss, despite operating income rising 11% to ¥51.5 billion.
MapleStory revenue outside of Korea grew 23% year-over-year, with record Q3 sales in Japan, North America, and Europe supported by hyper-localization efforts.
The new IP The First Descendant, launched in July, established a strong footprint with approximately 75% of its global revenue originating from Western markets.

Nexon Co., Ltd.Nov 2024

NEXON Co.

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Nexon Q3 2024 Earnings Release