NEXON Games has swung into a loss, reporting an operating deficit of 60.2 billion KRW for 2025. It is a classic tale of woe: revenue from legacy titles is sliding, yet the company continues to pour resources into new projects, keeping development costs stagnant while bottom-line performance takes a brutal hit.

On February 12, NEXON Games unveiled its 2025 annual financial results. The figures make for grim reading: 179.3 billion KRW in revenue, an operating loss of 60.2 billion KRW, and a net loss of 61.8 billion KRW. Revenue plummeted 30% compared to the previous year, with both operating and net profit diving deep into the red.

The firm’s portfolio relies on PC titles like Sudden Attack and The First Descendant, alongside mobile staples such as Blue Archive and V4. Unfortunately, both sectors underperformed compared to 2024. The sting is particularly sharp given that the company failed to maintain the PC revenue momentum generated by The First Descendant, which launched in July 2024, leaving a gaping hole in the balance sheet with no new titles to fill the void.

Meanwhile, the development treadmill continues, keeping labour and R&D costs stubbornly high. NEXON Games is busy bolstering live service teams for The First Descendant while juggling a pipeline that includes the subculture title 'Project RX', 'Dungeon & Fighter: Arad' (based on Dungeon & Fighter and Durango: Wild Lands), 'Project DX', the Jeon Woo-chi-inspired 'Wuchi: The Wayfarer', and the Steam-bound 'Sudden Attack Zero Point'. Getting these titles out the door has become the company's top priority.