Nexxus Reports First-Quarter Revenue of $8.4 Million, Up 76%

Uk Jin

Summary

Nexxus said its consolidated first-quarter revenue rose 76%% year over year to 11.6 billion won ($8.4 million).
The company said the net loss of 3.04 billion won ($2.2 million) reflected purchases of Bitcoin (BTC) and CROSS under its digital asset treasury strategy, or DAT, and was closer to a temporary factor.
Nexxus said it is expanding its gaming, blockchain and AI businesses through Seal M on Cross surpassing 300,000 daily active users, a follow-up lineup including Chaos W, and the rollout of integrated Web2-Web3 infrastructure products CROSS Hub 2.0 and CROSS Wave 2.0.

Forecast Trend Report by Period

Nexxus reported consolidated first-quarter revenue of 11.6 billion won ($8.4 million), up 76% from a year earlier, the company said on May 7. Operating profit totaled 132 million won ($95,700). Net loss for the period was 3.04 billion won ($2.2 million).

The company attributed the revenue growth to expansion in its gaming business and its platform and artificial intelligence operations.

Mobile MMORPG Seal M on Cross surpassed 300,000 daily active users after its global launch in March. Nexxus plans to roll out additional titles sequentially, starting with Chaos W, released on April 29, followed by the strategy simulation game Project FF and a new MMORPG.

In the platform segment, the company has been advancing integrated Web2 and Web3 infrastructure. It introduced CROSS Hub 2.0, which combines payment, rewards and community functions, and CROSS Wave 2.0, which expands streamer-linked features.

Chief Executive Officer Jang Hyun-kuk said the company posted results across its gaming, blockchain and AI businesses in the first quarter. The net loss reflected purchases of Bitcoin and CROSS under its digital asset treasury strategy, or DAT, though he described the impact as closer to a one-time factor.

CROSS