Nexon Reports Steady Growth Driven by Arc Raiders * Science and Technology Times

Nexon closed 2025 with record revenue for the third consecutive year, supported by strong performance from its core franchises and the success of Arc Raiders.
The company reported mixed profitability due to higher costs and revenue deferrals tied to new releases.
Its outlook for early 2026 suggests continued momentum as deferred revenue is recognized and engagement remains high.

Record Revenue Amid Shifting Profitability

Nexon reported 2025 revenue of ¥475.1 billion ($3.1 billion), marking a 6.5% year‑over‑year increase. The company attributed this growth to the continued strength of Dungeon & Fighter, MapleStory and the breakout success of Arc Raiders (pictured). Operating income remained nearly flat at ¥124 billion ($809.4 million), while net income declined 31.7% to ¥92.05 billion ($601.2 million). These results reflect both rising development costs and performance‑based expenses tied to new releases.

Fourth‑quarter revenue rose 55% year‑over‑year to ¥123.6 billion ($807.2 million). Operating income for the quarter reached ¥7.2 billion ($47.2 million), though this figure fell short of internal expectations. Nexon cited higher‑than‑anticipated costs, including bonuses linked to Arc Raiders and increased platform fees. These expenses contributed to the slight pressure on profitability despite strong top‑line performance.

The company also recorded a one‑time impairment loss of ¥3 billion in the fourth quarter. Additionally, ¥27.7 billion ($180.9 million) in Arc Raiders revenue was deferred, reducing reported revenue and operating income by ¥9 billion ($58.7 million) and ¥4 billion ($26 million), respectively. More than half of this deferred amount will be recognized in Q1 2026. Refunds from MapleStory Idle RPG will also be reflected in early 2026 results.

Arc Raiders Becomes Nexon’s Largest New Launch

Arc Raiders, developed by Embark Studios and released in October 2025, was described by CEO Junghun Lee as the biggest new game launch in Nexon’s history. The extraction shooter has sold more than 14 million copies to date. It also reached a peak of 960,000 concurrent users in January 2026, demonstrating sustained engagement beyond its initial release window. Nexon highlighted the title as a key driver of its global expansion strategy.

The game’s performance exceeded the company’s most optimistic projections. Engagement remained strong 15 weeks after launch, reinforcing Nexon’s confidence in its live operations capabilities. Arc Raiders also contributed to higher platform fees and performance‑based bonuses, which affected operating income. These costs, however, reflect the scale of the game’s commercial success.

MapleStory delivered its highest annual revenue in 22 years, rising 43% year‑over‑year. Growth was supported by recovery in Korea, regional expansion and new titles within the franchise. Dungeon & Fighter achieved double‑digit growth on PC, though a decline in the mobile version resulted in a 21% overall decrease for the franchise. These mixed results illustrate the varied performance across Nexon’s portfolio.

Outlook for 2026 and Strategic Positioning

Nexon projects first‑quarter revenue between ¥150.5 billion ($982.9 million) and ¥164 billion ($1.07 billion). This represents a 32% to 44% year‑over‑year increase, driven in part by deferred Arc Raiders revenue. The company expects continued engagement from its major franchises to support early‑year momentum. These projections indicate confidence in both new and established titles.

CEO Junghun Lee emphasized that Nexon enters 2026 as a more diversified and globally competitive company. He highlighted the company’s ability to grow long‑standing franchises while scaling new releases. Arc Raiders serves as a proof point for Nexon’s global ambitions and operational capabilities. The company aims to maintain this balance as it expands its international footprint.

Nexon’s strategy focuses on strengthening creative teams and refining its live operations model. The company believes these capabilities will support sustained growth across multiple regions. Its approach combines franchise renewal with targeted investment in new IP. This dual strategy is intended to enhance long‑term stability and market reach.