DD: NEXOY — Cash Cow Gaming Boomer That Accidentally Dropped a Banger
Earnings: Feb 12th
Nexon runs old-ass live-service games that print money (MapleStory, Dungeon & Fighter). Recurring revenue, microtransactions, whales — the good stuff. Not a broke studio, not vibes-based.
Then they dropped ARC Raiders.
Brand new IP. Actually hit. Big player numbers. Western audience. Modern shooter. Not a flop. This matters because it proves Nexon isn’t just milking 20-year-old games — they can still ship heat.
Numbers so your lizard brain feels safe:
~27 USD
~22B market cap
~2.9B revenue
~765M net income
~4.8B cash
Almost no debt
P/E ~29
Pays a dividend
Translation: this thing makes real money and now has a real growth story.
Why buy:
Cash machine + live-service model + new hit game = rerate potential. Trades cheaper than Western gaming peers that make less money and pray harder.
TL;DR:
Not a meme. Not a penny. Not bankrupt.
Profitable gaming dinosaur that just proved it can still hunt. ARC Raiders changed the narrative.
Position: 115 shares at $23 a piece OTC