Shift Up said on Tuesday it achieved record results in 2025 on a consolidated financial statement basis, with revenue of 294.2 billion won, operating profit of 181.1 billion won and net profit of 191.1 billion won. Compared with a year earlier, operating revenue, operating profit and net profit rose 31.3 percent, 18.6 percent and 29.2 percent, respectively. Operating margin was 61.6 percent.

In the fourth quarter, it posted revenue of 64.1 billion won, operating profit of 37.1 billion won and quarterly net profit of 58.3 billion won. Operating revenue rose 1 percent from a year earlier, but operating profit fell 19.6 percent. From the previous quarter, revenue and operating profit fell 15.1 percent and 25.1 percent, respectively. Operating margin was 57.9 percent, down 7.7 percentage points from the previous quarter's 65.6 percent.

Its main game Goddess of Victory: Nikke posted 44.9 billion won in fourth-quarter revenue, while Stellar Blade recorded 15.4 billion won. On an annual basis, Nikke generated 166.8 billion won in revenue and Stellar Blade posted 115.8 billion won.

Goddess of Victory: Nikke drew a strong response at its third anniversary event in the third week of November, centred on Nayuta and Liberrelio. Its iOS market revenue ranking reached as high as No. 1 in Japan, No. 2 in South Korea and No. 19 in the United States. Monthly active users rose from the previous quarter, maintaining a steady trend. The China version, Goddess of Victory: New Hope, is gradually aligning the pace of story development with the global version while introducing local-exclusive stories and dedicated characters.

Stellar Blade maintained steady sales through promotions such as PlayStation Black Friday and the Steam Winter Sale. It continued to be rated "Very Positive" with 95 percent positive reviews on the Steam platform. Both the PC version and the PS5 version posted solid sales similar to the previous quarter.

Fourth-quarter operating costs were 27.0 billion won, up 4 percent from the previous quarter. Labour costs were 13.6 billion won, down 2.8 percent from the previous quarter. Variable costs fell 40.5 percent to 5.7 billion won due to lower fees paid related to Stellar Blade. Fixed costs rose to 7.7 billion won after recognising outsourcing costs related to upgrading live services. The number of employees was 339, up 5.3 percent from a year earlier, with 297 developers accounting for 88 percent. In the quarter, it acquired a subsidiary, and 14.8 billion won in equity-accounted gains and losses was reflected in the consolidated financial statements.

The company forecast that growth in its two main IPs would continue in 2026. It said it is targeting 2026 results for Nikke at a level similar to, or higher than, 2025. Stellar Blade is reviewing expansion to new platforms in addition to PS5 and PC, and is systematically preparing development of its next title. It is also reviewing disclosing additional information on follow-up projects within this year.

Its new title Project Spirits is on a stable development track under strategic cooperation with a global partner, and it plans to release information within the year including the project's direction and key features.

The company also said it aims to announce a concrete medium- to long-term shareholder return plan in the first half of this year and then begin implementing it in stages.