Arc Raiders Becomes Nexon’s Biggest Global Launch Amid Q3 Revenue Decline

Nexon has released its financial results for the third quarter of 2025, ending September 30, showing strong performances across key franchises despite declines in overall revenue and operating income.

Arc Raiders sells 4 million copies, driving Nexon’s Q3 success | Image via Gaming Amigos

Nexon Q3 2025 Financial Results

• Revenue: ¥118.7 billion ($767 million), down 12% year‑on‑year.

• Operating Income: ¥37.5 billion ($242.3 million), down 27% year‑on‑year.

• Net Income: ¥38.2 billion ($247 million), up 41% year‑on‑year.

• Declines in revenue and operating income were expected, but net income exceeded forecasts thanks to a ¥9.2 billion gain compared to a ¥19.6 billion loss last year.

Franchise Highlights

• Arc Raiders (Embark Studios):

  • Nexon’s most successful global launch in history.

  • Over 4 million copies sold since October 30.

  • Peaked at 700,000 concurrent players on Steam in its second week.

  • Ranked third on Steam’s global wishlist chart earlier this year.

  • CEO Junghun Lee believes it will be a long‑term franchise with content planned through 2026.

• The Finals (Embark Studios):

  • Season 8 update in September drove 58% year‑on‑year revenue growth.

  • A Chinese adaptation, co‑developed with Tencent, enters open beta on November 18.

• Dungeon & Fighter (DNF):

  • Overall franchise revenue dropped 45% year‑on‑year due to the 2024 mobile release.

  • Mobile edition still showed quarter‑over‑quarter growth from updates.

  • PC version surged 72% year‑on‑year in Q3, exceeding expectations in China with double‑digit growth.

• MapleStory:

  • Revenue grew 61% year‑on‑year.

  • Nexon expects 40% growth in Q4, driven by recovery in Korea and the launch of MapleStory: Idle RPG on November 6.

AI and Industry Debate

• Nexon CEO Junghun Lee addressed criticism of AI use in Arc Raiders.

• He stated: “It’s important to assume every game company is now using AI.”

• "If everyone is working with the same or similar technologies, the real question becomes: how do you survive? I believe it's important to choose a strategy that increases your competitiveness," he added."

Overall, Nexon’s Q3 results highlight both challenges and opportunities. While revenue dipped, the success of Arc Raiders, growth in The Finals, and resilience in MapleStory suggest the company is positioning itself strongly for 2026, even as it experiments with AI in game development.