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Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
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NEXON Co (3659) investor relations material
NEXON Co Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary11 Nov, 2025
Executive summary
Q3 2025 revenue reached ¥118.7 billion, with operating income of ¥37.5 billion, both within guidance, driven by strong performances from MapleStory and ARC Raiders, which sold over 4 million units and reached 700,000 concurrent players.
Net income rose 41% year-over-year to ¥38.2 billion, mainly due to a significant ¥9.2 billion FX gain compared to a loss last year.
The company is expanding globally with new launches and hyperlocalized content, including MapleStory Classic World and THE FINALS China open beta.
Shareholder returns were enhanced by doubling the year-end dividend forecast and completing a major share repurchase.
The IP growth initiative and global expansion are fueling sustainable long-term growth.
Financial highlights
Q3 2025 revenue was ¥118.7 billion, down 12% year-over-year, but operating income was in line with expectations.
Net income exceeded outlook, up 41% year-over-year, driven by a ¥9.2 billion FX gain.
PC/Console revenue grew 20% year-over-year, while mobile revenue declined 48%.
Q4 revenue is expected between ¥115.8–129.3 billion, a 45–62% year-over-year increase as reported.
Korea contributed 58% of total revenue, with strong growth in MapleStory, FC ONLINE, and Dungeon & Fighter (PC).
Outlook and guidance
Full-year 2025 revenue is forecasted in the range of ¥467,303–480,839 million (up 4.7%–7.8% year-over-year), with operating profit expected at ¥138,581–148,711 million (up 11.6%–19.8%).
Q4 2025 is expected to see double-digit revenue growth in MapleStory and FC franchises, with new titles like ARC Raiders contributing.
Net income is expected to decrease year-over-year due to a high FX gain in Q4 2024.
Significant revenue growth is anticipated in North America and Europe, driven by ARC Raiders and THE FINALS.
Dungeon&Fighter Franchise revenue is expected to decline about 10% year-over-year, with PC growth offset by mobile flatness.
How is hyperlocalization impacting key titles
Explain the full-year profit decline drivers
Detail the rationale for the new share buyback
ARC Raiders: What's the long-term DLC/MTX strategy?
D&F Mobile China: 2026 recovery plan specifics?
Embark's AI use: How does it boost dev creativity?
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Q4 202512 Feb, 2026
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Frequently asked questions
NEXON Co., Ltd. is a company active in the global gaming industry, specializing in the development, production, and provision of online games. Established in 1994, the company has carved a niche for itself by offering a diverse range of personal computer (PC) online games and mobile games, alongside related services. NEXON is known for popular game titles such as MapleStory and Dungeon & Fighter, which have garnered a significant player base worldwide. The company's portfolio extends to more than a hundred PC online and mobile games across various regions, including China, Japan, Korea, Europe, and North America. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.
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