Square Enix’s Q1 2025 financial report, released on August 8, shows that Final Fantasy 14 has taken a noticeable hit in both overall sales and operational profits. This decline has gone hand-in-hand with a drop in player retention compared to last year, with the recent Dawntrail expansion emerging as a key factor in the slump.
Following the highly acclaimed Endwalker expansion, Dawntrail was met with mixed reviews, with criticism aimed at its story direction and the pacing of its post-launch updates. Many players felt it struggled to live up to the expectations set by the conclusion of the Hydaelyn–Zodiark Saga. The game’s Online Store has also come under fire for the quality and pricing of certain cosmetic items, including the Crystarium Rebel's Attire and Belt-leather Attire.
According to shareholder Yuzu — whose comments were translated by Aitaikimochi on Twitter — revenue from Square Enix’s MMO titles, including Final Fantasy 14 and Dragon Quest 10, fell by 2.9 billion yen ($19.6 million) compared to the same period last year, with operating profits down 3 billion yen ($20.2 million). Yuzu stressed that the success of Square Enix’s HD game sales is closely tied to Final Fantasy 14’s performance and that action needs to be taken to regain momentum. He also dismissed the recent rise in Square Enix’s stock price as an accurate indicator of the company’s financial health, attributing it to activist investor influence.
Signs of declining engagement are visible within the game itself. In June, the automatic housing demolition system was reactivated, and by late July, hundreds of virtual homes were removed on North American servers like Aether and Crystal, freeing up plots for new buyers. As of now, some servers still have housing available.
Despite the downturn, Patch 7.3 — marketed as the climactic chapter of Dawntrail’s storyline — has received a generally positive early reception. Whether that will be enough to turn the tide ahead of the next expansion remains to be seen.
