adminNexon revenue 2025 reached a record ¥475.1 billion ($3.1 billion), a 6.5% increase from the previous year. The company said growth came from its established Dungeon & Fighter and MapleStory franchises, alongside the continued commercial success of Arc Raiders.
Image credit: Embark Studios/Nexon
The results mark Nexon’s third consecutive year of record revenue. However, annual operating income was nearly flat, while net income fell, showing that higher sales did not translate into growth across every profit measure.
Nexon revenue 2025: key financial results
- Revenue: ¥475.1 billion ($3.1 billion), up 6.5% year over year
- Operating income: ¥124 billion ($809.4 million), down 0.1%
- Net income: ¥92.05 billion ($601.2 million), down 31.7%
Revenue measures sales before expenses, while operating income reflects earnings from business operations. Net income also accounts for other costs and items, so the different year-over-year changes offer a fuller view of the company’s performance.
Arc Raiders drives quarterly growth
Fourth-quarter revenue increased 55% year over year to ¥123.6 billion ($807.2 million). Operating income for the quarter was ¥7.2 billion ($47.2 million), below Nexon’s year-end outlook. The company attributed the shortfall to higher-than-expected costs, including performance-based bonuses connected to Arc Raiders and increased platform fees following the strong performance of new releases.
Released in October 2025, Embark Studios’ extraction shooter became the biggest new game launch in Nexon’s history, according to CEO Junghun Lee. It has sold more than 14 million copies and reached a peak of 960,000 concurrent users in January 2026. Concurrent-user figures count players active at the same time, rather than total copies sold.
Quarterly results also included a one-time impairment loss of ¥3 billion and a ¥27.7 billion ($180.9 million) deferral of Arc Raiders revenue. More than half of the deferred amount is expected to be recognized in Q1 2026, alongside refunds from MapleStory Idle RPG. Nexon said these adjustments lowered fourth-quarter revenue by ¥9 billion ($58.7 million) and operating income by ¥4 billion ($26 million).
MapleStory grows as Dungeon & Fighter revenue declines
MapleStory franchise earnings rose 43% for the year, reaching their highest annual level in 22 years. Nexon linked the increase to a recovery in Korea, expansion into other regions and new titles. For players and industry observers, the figures indicate that the franchise’s performance extended beyond a single release.
Dungeon & Fighter recorded double-digit revenue growth on PC in 2025. However, lower revenue from its mobile edition resulted in an overall 21% decline in earnings for the franchise. The contrast between the PC and mobile results highlights why platform-specific performance can matter when assessing a game series.
Nexon’s first-quarter 2026 outlook
Nexon forecast Q1 2026 revenue of ¥150.5 billion ($982.9 million) to ¥164 billion ($1.07 billion), which would represent year-over-year growth of 32% to 44%. The company’s guidance also reflects the expected recognition of deferred Arc Raiders revenue, though the final results may differ from projections.
Lee said Arc Raiders continued to grow and maintain player engagement 15 weeks after launch, and described its performance as stronger than the company had projected. He also pointed to the game as evidence of Nexon’s ability to support global releases through its development teams and live operations. The CEO said the company’s established franchises, combined with newer releases, leave it more diversified and globally competitive.
What Nexon revenue 2025 indicates
Nexon revenue 2025 shows how a major new release can add to sales alongside long-running franchises. Arc Raiders’ launch and MapleStory’s growth supported record revenue, while higher costs, lower Dungeon & Fighter mobile earnings and a decline in net income remain important parts of the financial picture. Nexon’s Q1 guidance points to continued year-over-year revenue growth, with upcoming results providing a clearer measure of how these trends develop.
