Gravity Reports Second Quarter of 2025 Results and Business Update
Gravity (NASDAQ:GRVY) reported strong Q2 2025 financial results with total revenues of KRW 170,740 million (US$ 126.1M), up 24.2% QoQ and 38.9% YoY. The company's mobile game segment showed remarkable growth, with revenues increasing 24.7% QoQ to KRW 144,003 million, driven by successful launches of Ragnarok M: Classic and Ragnarok X: Next Generation in various regions.
Operating profit reached KRW 19,670 million, though declining 20.5% QoQ but increasing 31.2% YoY. Net profit was KRW 13,245 million, down 39.9% QoQ but up 5.4% YoY. The company maintains strong liquidity with KRW 576,840 million in cash and equivalents.
The quarter saw multiple successful game launches across regions and platforms, with significant expansion plans including new Ragnarok titles scheduled for release in various markets through 2025.
Gravity (NASDAQ:GRVY) ha riportato risultati finanziari solidi per il secondo trimestre del 2025, con ricavi totali pari a KRW 170.740 milioni (US$ 126,1 milioni), in aumento del 24,2% rispetto al trimestre precedente e del 38,9% su base annua. Il segmento dei giochi per dispositivi mobili ha mostrato una crescita notevole, con ricavi in aumento del 24,7% QoQ a KRW 144.003 milioni, grazie ai lanci di successo di Ragnarok M: Classic e Ragnarok X: Next Generation in diverse regioni.
Il profitto operativo ha raggiunto KRW 19.670 milioni, in calo del 20,5% QoQ ma in crescita del 31,2% YoY. L'utile netto è stato di KRW 13.245 milioni, in diminuzione del 39,9% rispetto al trimestre precedente ma in aumento del 5,4% su base annua. L'azienda mantiene una solida liquidità con KRW 576.840 milioni in contanti e equivalenti.
Il trimestre ha visto il lancio di diversi giochi di successo in varie regioni e piattaforme, con piani di espansione significativi che includono nuovi titoli di Ragnarok previsti per il rilascio in diversi mercati nel corso del 2025.
Gravity (NASDAQ:GRVY) reportó sólidos resultados financieros en el segundo trimestre de 2025, con ingresos totales de KRW 170.740 millones (US$ 126,1 millones), un aumento del 24,2% trimestral y del 38,9% interanual. El segmento de juegos móviles mostró un crecimiento destacado, con ingresos que aumentaron un 24,7% trimestral hasta KRW 144.003 millones, impulsados por los exitosos lanzamientos de Ragnarok M: Classic y Ragnarok X: Next Generation en varias regiones.
El beneficio operativo alcanzó KRW 19.670 millones, aunque disminuyó un 20,5% respecto al trimestre anterior, aumentó un 31,2% interanual. El beneficio neto fue de KRW 13.245 millones, bajando un 39,9% trimestralmente pero subiendo un 5,4% interanual. La compa?ía mantiene una sólida liquidez con KRW 576.840 millones en efectivo y equivalentes.
El trimestre registró múltiples lanzamientos exitosos de juegos en diversas regiones y plataformas, con planes de expansión significativos que incluyen nuevos títulos de Ragnarok programados para su lanzamiento en varios mercados durante 2025.
Gravity (NASDAQ:GRVY)? 2025? 2?? ??? ??? ??????. ? ??? 1,707? 4?? ? (?? 1? 2,610? ??)?? ??? ?? 24.2%, ?? ?? ?? 38.9% ??????. ??? ?? ??? 1,440? 3?? ?? ??? ??? ?? 24.7% ?????, ?? ??? ???? ????? ??? Ragnarok M: Classic? Ragnarok X: Next Generation ?????.
????? 196? 7?? ??? ??? ?? 20.5% ????? ?? ?? ?? 31.2% ??????. ???? 132? 4? 5?? ??? ??? ?? 39.9% ????? ?? ?? ?? 5.4% ??????. ??? 5,768? 4?? ?? ?? ? ??? ???? ?? ???? ???? ????.
?? ???? ?? ??? ????? ???? ?? ??? ????, 2025??? ??? ???? ??? ??? ??? Ragnarok ???? ??? ??? ?? ??? ?? ????.
Gravity (NASDAQ:GRVY) a annoncé de solides résultats financiers pour le deuxième trimestre 2025, avec un chiffre d'affaires total de KRW 170 740 millions (126,1 millions de dollars US), en hausse de 24,2 % par rapport au trimestre précédent et de 38,9 % en glissement annuel. Le segment des jeux mobiles a connu une croissance remarquable, avec des revenus en hausse de 24,7 % par rapport au trimestre précédent, atteignant KRW 144 003 millions, gr?ce aux lancements réussis de Ragnarok M: Classic et Ragnarok X: Next Generation dans plusieurs régions.
Le bénéfice d'exploitation a atteint KRW 19 670 millions, en baisse de 20,5 % par rapport au trimestre précédent mais en hausse de 31,2 % en glissement annuel. Le bénéfice net s'élève à KRW 13 245 millions, en baisse de 39,9 % par rapport au trimestre précédent mais en hausse de 5,4 % en glissement annuel. La société maintient une forte liquidité avec KRW 576 840 millions en liquidités et équivalents.
Le trimestre a été marqué par plusieurs lancements réussis de jeux à travers différentes régions et plateformes, avec des plans d'expansion importants, incluant de nouveaux titres Ragnarok prévus pour sortie sur divers marchés en 2025.
Gravity (NASDAQ:GRVY) meldete starke Finanzergebnisse für das zweite Quartal 2025 mit einem Gesamtumsatz von KRW 170.740 Millionen (US$ 126,1 Mio.), was einem Anstieg von 24,2 % gegenüber dem Vorquartal und 38,9 % gegenüber dem Vorjahr entspricht. Der Mobile-Gaming-Bereich des Unternehmens verzeichnete ein bemerkenswertes Wachstum, mit einem Umsatzanstieg von 24,7 % gegenüber dem Vorquartal auf KRW 144.003 Millionen, angetrieben durch erfolgreiche Ver?ffentlichungen von Ragnarok M: Classic und Ragnarok X: Next Generation in verschiedenen Regionen.
Der Betriebsgewinn erreichte KRW 19.670 Millionen, was einem Rückgang von 20,5 % gegenüber dem Vorquartal, aber einem Anstieg von 31,2 % gegenüber dem Vorjahr entspricht. Der Nettogewinn betrug KRW 13.245 Millionen, was einem Rückgang von 39,9 % gegenüber dem Vorquartal, aber einem Anstieg von 5,4 % gegenüber dem Vorjahr entspricht. Das Unternehmen verfügt über eine starke Liquidit?t mit KRW 576.840 Millionen an Bar- und Zahlungsmitteln.
Im Quartal gab es mehrere erfolgreiche Spielever?ffentlichungen in verschiedenen Regionen und auf verschiedenen Plattformen, mit bedeutenden Expansionspl?nen, darunter neue Ragnarok-Titel, die 2025 in verschiedenen M?rkten ver?ffentlicht werden sollen.
- Total revenue grew 38.9% year-over-year to KRW 170.7B (US$126.1M)
- Mobile game revenue increased 45.4% YoY to KRW 144B (US$106.4M)
- Operating profit up 31.2% year-over-year
- Strong liquidity position with KRW 576.8B (US$426.2M) in cash
- Multiple successful game launches and global market expansion
- Diverse game portfolio with 15+ titles in development or recent launch
- Operating profit decreased 20.5% quarter-over-quarter
- Net profit declined 39.9% from previous quarter
- Operating expenses increased 46.6% QoQ due to higher advertising costs
- Decreased revenues from existing games like Ragnarok Origin in multiple regions
Insights
Gravity reports 38.9% YoY revenue growth driven by mobile games, despite 39.9% QoQ profit decline amid higher marketing expenses.
Gravity's Q2 2025 results present a mixed financial picture with impressive
Despite strong top-line growth, profitability metrics show concerning sequential declines. Net profit attributable to the parent company fell
The company's expansion strategy is clearly reflected in these numbers – aggressively investing in marketing to support an ambitious global rollout schedule spanning multiple games and regions. The most significant revenue contributors include new launches of Ragnarok M: Classic in Taiwan/Hong Kong/Macau and Ragnarok X: Next Generation in the Americas and select European markets. These investments have pressured margins but expanded the company's global footprint substantially.
Gravity maintains a remarkably strong balance sheet with
Gravity's Q2 results highlight a strategic pivot toward global expansion and platform diversification that's beginning to bear fruit. The company's release calendar reveals an aggressive multi-region approach, with 17 different game launches mentioned across various stages of deployment.
What's particularly notable is Gravity's market penetration strategy. Rather than pursuing simultaneous global releases, they're executing carefully sequenced regional rollouts tailored to specific markets. For instance, Ragnarok X: Next Generation launched in North/South America in May, with Europe/Middle East/Africa planned for October. This phased approach allows for localization refinements and server stability management, crucial for maintaining player satisfaction during launch periods.
The company is also diversifying beyond its traditional MMORPG focus, expanding into idle games (Poring Rush, Ragnarok Idle Adventure Plus), puzzle RPGs (Ragnarok Crush), and even blockchain gaming (Ragnarok Landverse). This genre expansion helps mitigate risk while addressing different player preferences and time commitment levels.
Most significantly, Gravity has secured an ISBN for Ragnarok: The Promised Adventure in China, with an October launch date. The Chinese market represents a massive potential revenue stream, though regulatory approval processes there are notoriously stringent. Successfully navigating this regulatory environment signals strong government relations and compliance capabilities.
The company's multi-platform strategy is equally impressive – extending beyond mobile to include PC cross-play options for several titles, WeChat Mini Programs integration in China, and even LINE platform distribution. This approach maximizes accessibility across different user bases and creates multiple revenue streams from the same IP.
While marketing expenses have increased substantially, these investments appear strategic rather than desperate, laying groundwork for multiple revenue-generating launches in H2 2025 and beyond.
Seoul, South Korea, Aug. 08, 2025 (GLOBE NEWSWIRE) -- GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games based in South Korea, today announced its unaudited financial results for the second quarter ended June 30, 2025, prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board and business updates.
SECOND QUARTER 2025 HIGHLIGHTS
- Total revenues were KRW 170,740 million (US
$ 126,147 thousand ), representing a24.2% increase from the first quarter ended March 31, 2025 (“QoQ”) and a38.9% increase from the second quarter ended June 30, 2024 (“YoY”).
- Operating profit was KRW 19,670 million (US
$ 14,533 thousand ), representing a20.5% decrease QoQ and a31.2% increase YoY.
- Profit before income tax expense was KRW 18,706 million (US
$ 13,821 thousand ), representing a34.2% decrease QoQ and a6.7% decrease YoY.
- Net profit attributable to parent company was KRW 13,245 million (US
$ 9,786 thousand ), representing a39.9% decrease QoQ and a5.4% increase YoY.
REVIEW OF SECOND QUARTER 2025 FINANCIAL RESULTS
Revenues
Online game revenues for the second quarter of 2025 were KRW 21,971 million (US
Mobile game revenues were KRW 144,003 million (US
Other revenues were KRW 4,766 million (US
Cost of Revenue
Cost of revenue was KRW 114,006 million (US
Operating Expenses
Operating expenses were KRW 37,064 million (US
Profit Before Income Tax Expense
Profit before income tax expense was KRW 18,706 million (US
?of KRW 20,057 million for the second quarter of 2024.
Net Profit
As a result of the foregoing factors, Gravity recorded a net profit attributable to parent company of KRW 13,245 million (US
Liquidity
The balance of cash and cash equivalents and short-term financial instruments was KRW 576,840 million (US
Note: For convenience purposes only, the KRW amounts have been expressed in U.S. dollars at the exchange rate of KRW 1,353.50 to US
GRAVITY BUSINESS UPDATES
Ragnarok Online IP-based Games
- Ragnarok: The Promised Adventure (Tentative English Title), an Idle MMORPG Mobile and WeChat Mini Programs game
Ragnarok: The Promised Adventure (Tentative English Title, Chinese title: 仙境传说之约定好的冒险) officially received an ISBN from Chinese government on May 21, 2025 and will be launched in China on October 1, 2025.
- Ragnarok X: Next Generation, an MMORPG Mobile and PC game
Ragnarok X: Next Generation was officially launched in North, Central and South America, Oceania, England, Portugal, Spain and Ireland on May 8, 2025 and will be launched in Europe (except England, Portugal, Spain and Ireland), Middle East, Africa and South Asia in October 2025.
- Ragnarok Online America Latina, an MMORPG PC game
Ragnarok Online America Latina was officially launched in Latin America on May 28, 2025.
- Ragnarok Idle Adventure Plus, a Vertical Idle MMORPG Mobile game
Ragnarok Idle Adventure Plus was officially launched in Taiwan, Hong Kong and Macau on May 21, 2025 and will be launched in Korea on August 28, 2025.
- Poring Rush, an Idle RPG Mobile game
Poring Rush was officially launched in Korea on June 12, 2025.
- Ragnarok Zero, an MMORPG PC game
Ragnarok Zero was officially launched in Taiwan, Hong Kong and Macau on July 3, 2025.
- Ragnarok: Twilight, an Idle MMOARPG Mobile game
Ragnarok: Twilight was officially launched in Taiwan, Hong Kong and Macau on July 3, 2025. It will be launched in China on August 15, 2025 and is underway for its launch in Southeast Asia in the second half of 2025.
- Ragnarok Crush, a Strategy Action Puzzle RPG Mobile game
Ragnarok Crush was officially launched in Global except China and Japan on July 17, 2025.
- Ragnarok V: Returns, a 3D MMORPG Mobile and PC game
Ragnarok V: Returns was officially launched in Global on August 7, 2025.
- Ragnarok M: Classic, an MMORPG Mobile and PC game
Ragnarok M: Classic will be launched in North and South America, Europe, Middle East and Africa on September 3, 2025.
- Ragnarok: The New World, an MMORPG Mobile and PC game
Ragnarok: The New World is planned to be launched in Taiwan, Hong Kong and Macau in the fourth quarter of 2025.
- PROJECT ABYSS, an MMOARPG Mobile and PC game
PROJECT ABYSS is underway for its launch in Southeast Asia in the fourth quarter of 2025.
- Ragnarok Libre, a Time Effective MMORPG Line game
Ragnarok Libre will be launched in Global except Korea, China and Japan on August 11, 2025.
- I'm the Hero of This Ragnarok! (Tentative English Title), an SLG Simulation Mobile game
I'm the Hero of This Ragnarok! (Tentative English Title) is scheduled to be launched in Korea in September 2025.
Ragnarok Online IP-based Blockchain Game
- Ragnarok Landverse, an MMORPG Blockchain and PC game
Ragnarok Landverse will be launched in North and South America in the fourth quarter of 2025.
Other IP-based games
- Gunbound, an MMO Turn-based Artillery PC game
Gunbound was officially launched in Southeast Asia and Latin America on June 10, 2025.
- Nobunaga's Ambition: The Road to the World (Tentative English Title), an MMO History Strategy Simulation Mobile game
Nobunaga's Ambition: The Road to the World (Tentative English Title) was officially launched in Japan on June 18, 2025.
- Dragonica Origin, an MMORPG PC game
Dragonica Origin was officially launched in Southeast Asia on July 16, 2025.
- Meow Star Acres 2, a Farm Simulation Mobile game
Meow Star Acres 2 will be launched in Global in the fourth quarter of 2025.
- Schop Hero, a New Fresh Whole Digging Puzzle RPG Mobile game
Schop Hero will be launched in Japan in the third quarter of 2025.
- Chess Rumble, a Collectible Tactical RPG Mobile game
Chess Rumble is planned to be launched in Global except Korea and Japan in the third quarter of 2025.
Investor Presentation
Gravity issued an investor presentation. The presentation contains the Company’s recent business updates, results of the second quarter in 2025 and Gravity’s business plan. The presentation can be found on the Company’s website under the IR Archives section at https://www.gravity.co.kr/en/ir/updates. Korean and Japanese versions of the presentation are also provided on the website.
About GRAVITY Co., Ltd. ---------------------------------------------------
Gravity is a developer and publisher of online and mobile games. Gravity's principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 91 markets. For more information about Gravity, please visit http://www.gravity.co.kr.
Forward-Looking Statements:
Certain statements in this press release may include, in addition to historical information, “forward-looking statements” within the meaning of the “safe-harbor” provisions of the U.S. Private Securities Litigation Reform Act 1995. Forward-looking statements can generally be identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe”, “project,” or “continue” or the negative thereof or other similar words, although not all forward-looking statements contain these words. Investors should consider the information contained in our submissions and filings with the United States Securities and Exchange Commission (the “SEC”), including our annual report for the fiscal year ended December 31, 2024 on Form 20-F, together with such other documents that we may submit to or file with the SEC from time to time, on Form 6-K. The forward-looking statements speak only as of this press release and we assume no duty to update them to reflect new, changing or unanticipated events or circumstances.
Contact:
Mr.?Heung Gon Kim
Chief Financial Officer
Gravity Co., Ltd.
Email: [email protected]
Ms. Jin Lee
Ms. Yujin Oh
IR Unit
Gravity Co., Ltd.
Email: [email protected]
Telephone: +82-2-2132-7800
GRAVITY Co., Ltd.
Consolidated Statements of Financial Position
(In millions of KRW and thousands of US$)
| ? | ? | As of | |||||||||||||
| ? | ? | 31-Dec-24 | ? | ? | 30-Jun-25 | ||||||||||
| ? | ? | KRW | ? | ? | US$ | ? | ? | KRW | ? | ? | US$ | ||||
| ? | ? | (audited) | ? | ? | (unaudited) | ? | ? | (unaudited) | ? | ? | (unaudited) | ||||
| Assets | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Current assets: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Cash and cash equivalents | ? | ? | ? ? ? 228,898 | ? | ? | ? | ? ?169,116 | ? | ? | ? | ? ?215,441 | ? | ? | ? | ? ? 159,173 |
| Short-term financial instruments | ? | ? | ???????? 324,304 | ? | ? | ? | ???? 239,604 | ? | ? | ? | ???? 361,399 | ? | ? | ? | ???? 267,011 |
| Accounts receivable, net | ? | ? | ?????????? 81,152 | ? | ? | ? | ?????? 59,957 | ? | ? | ? | ?????? 81,368 | ? | ? | ? | ?????? 60,117 |
| Other receivables, net | ? | ? | ???????????? 1,572 | ? | ? | ? | ???????? 1,161 | ? | ? | ? | ???????? 1,948 | ? | ? | ? | ???????? 1,439 |
| Prepaid expenses | ? | ? | ???????????? 8,115 | ? | ? | ? | ???????? 5,996 | ? | ? | ? | ?????? 17,768 | ? | ? | ? | ?????? 13,127 |
| Other current financial assets | ? | ? | ???????????? 6,602 | ? | ? | ? | ???????? 4,878 | ? | ? | ? | ???????? 4,759 | ? | ? | ? | ???????? 3,516 |
| Other current assets | ? | ? | ???????????? 2,967 | ? | ? | ? | ???????? 2,192 | ? | ? | ? | ???????? 3,975 | ? | ? | ? | ???????? 2,937 |
| Total current assets | ? | ? | ? ? ?653,610 | ? | ? | ? | ???? 482,904 | ? | ? | ? | ???? 686,658 | ? | ? | ? | ???? 507,320 |
| Property and equipment, net | ? | ? | ???????????? 9,957 | ? | ? | ? | ???????? 7,356 | ? | ? | ? | ?????? 10,703 | ? | ? | ? | ???????? 7,908 |
| Intangible assets, net | ? | ? | ???????????? 7,057 | ? | ? | ? | ???????? 5,214 | ? | ? | ? | ???????? 8,941 | ? | ? | ? | ???????? 6,606 |
| Deferred tax assets | ? | ? | ???????????? 5,617 | ? | ? | ? | ???????? 4,150 | ? | ? | ? | ???????? 6,498 | ? | ? | ? | ???????? 4,801 |
| Other non-current financial assets | ? | ? | ???????????? 1,767 | ? | ? | ? | ???????? 1,306 | ? | ? | ? | ???????? 1,686 | ? | ? | ? | ???????? 1,246 |
| Other non-current assets | ? | ? | ???????????? 8,451 | ? | ? | ? | ???????? 6,245 | ? | ? | ? | ???????? 7,966 | ? | ? | ? | ???????? 5,885 |
| Total assets | ? | ? | ? ? ?686,459 | ? | ? | ? | ???? 507,175 | ? | ? | ? | ???? 722,452 | ? | ? | ? | ???? 533,766 |
| Liabilities and Equity | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Current liabilities: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Accounts payable | ? | ? | ?????????? 67,930 | ? | ? | ? | ?????? 50,188 | ? | ? | ? | ?????? 82,024 | ? | ? | ? | ?????? 60,601 |
| Deferred revenue | ? | ? | ?????????? 26,761 | ? | ? | ? | ?????? 19,772 | ? | ? | ? | ?????? 20,868 | ? | ? | ? | ?????? 15,418 |
| Withholdings | ? | ? | ? ? ? ? ? 1,588 | ? | ? | ? | ???????? 1,173 | ? | ? | ? | ???????? 1,599 | ? | ? | ? | ???????? 1,181 |
| Accrued expense | ? | ? | ? ? ? ? ? 2,651 | ? | ? | ? | ???????? 1,959 | ? | ? | ? | ???????? 2,181 | ? | ? | ? | ???????? 1,611 |
| Income tax payable | ? | ? | ? ? ? ? ? 6,507 | ? | ? | ? | ???????? 4,808 | ? | ? | ? | ???????? 7,667 | ? | ? | ? | ???????? 5,665 |
| Other current liabilities | ? | ? | ? ? ? ? ? 3,212 | ? | ? | ? | ???????? 2,373 | ? | ? | ? | ???????? 3,653 | ? | ? | ? | ???????? 2,699 |
| Total current liabilities | ? | ? | ? ? ? 108,649 | ? | ? | ? | ?????? 80,273 | ? | ? | ? | ???? 117,992 | ? | ? | ? | ?????? 87,175 |
| Long-term account payables | ? | ? | ? ? ? ? ? ? ?220 | ? | ? | ? | ??????????? 163 | ? | ? | ? | ??????????? 623 | ? | ? | ? | ??????????? 460 |
| Long-term deferred revenue | ? | ? | ? ? ? ? ? 2,572 | ? | ? | ? | ???????? 1,900 | ? | ? | ? | ??????????? 880 | ? | ? | ? | ??????????? 650 |
| Other non-current liabilities | ? | ? | ? ? ? ? ? 5,361 | ? | ? | ? | ???????? 3,961 | ? | ? | ? | ???????? 5,262 | ? | ? | ? | ???????? 3,889 |
| Deferred tax liabilities | ? | ? | ? ? ? ? ? 1,294 | ? | ? | ? | ??????????? 956 | ? | ? | ? | ???????? 1,290 | ? | ? | ? | ??????????? 953 |
| Total liabilities | ? | ? | ???????? 118,096 | ? | ? | ? | ?????? 87,253 | ? | ? | ? | ???? 126,047 | ? | ? | ? | ?????? 93,127 |
| Share capital | ? | ? | ? ? ? ? ? 3,474 | ? | ? | ? | ???????? 2,567 | ? | ? | ? | ???????? 3,474 | ? | ? | ? | ???????? 2,567 |
| Capital surplus | ? | ? | ? ? ? ? 26,979 | ? | ? | ? | ?????? 19,933 | ? | ? | ? | ?????? 26,979 | ? | ? | ? | ?????? 19,933 |
| Other components of equity | ? | ? | ? ? ? ? 23,801 | ? | ? | ? | ?????? 17,585 | ? | ? | ? | ?????? 16,601 | ? | ? | ? | ?????? 12,265 |
| Retained earnings | ? | ? | ? ? ? 513,418 | ? | ? | ? | ???? 379,326 | ? | ? | ? | ???? 548,701 | ? | ? | ? | ???? 405,394 |
| Equity attributable to owners of the Parent Company | ? | ? | ? ? ? 567,672 | ? | ? | ? | ???? 419,411 | ? | ? | ? | ???? 595,755 | ? | ? | ? | ???? 440,159 |
| Non-controlling interest | ? | ? | ? ? ? ? ? ? ?691 | ? | ? | ? | ??????????? 511 | ? | ? | ? | ??????????? 650 | ? | ? | ? | ??????????? 480 |
| Total equity | ? | ? | ? ? ? 568,363 | ? | ? | ? | ???? 419,922 | ? | ? | ? | ???? 596,405 | ? | ? | ? | ???? 440,639 |
| Total liabilities and equity | ? | ? | ? ? ? 686,459 | ? | ? | ? | ???? 507,175 | ? | ? | ? | ???? 722,452 | ? | ? | ? | ???? 533,766 |
* For convenience purposes only, the KRW amounts are expressed in U.S. dollars at the rate of KRW 1,353.50 to US
GRAVITY Co., Ltd.
Consolidated Statements of Comprehensive Income
(In millions of KRW and thousands of US$ except for share and ADS data)
| ? | ? | Three months ended | ? | Six months ended | |||||||||||||||||
| ? | ? | 31-Mar-25 | 30-Jun-24 | 30-Jun-25 | ? | 30-Jun-24 | ? | 30-Jun-25 | |||||||||||||
| ? | ? | (KRW) | ? | (KRW) | ? | (KRW) | ? | (US$) | ? | (KRW) | ? | (KRW) | ? | (US$) | |||||||
| ? | ? | (unaudited) | ? | (unaudited) | ? | (unaudited) | ? | (unaudited) | ? | (unaudited) | ? | (unaudited) | ? | (unaudited) | |||||||
| Revenues: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Online games | ? | ? | 18,806 | ? | ? | 19,445 | ? | ? | 21,971 | ? | ? | 16,233 | ? | ? | 37,510 | ? | ? | 40,777 | ? | ? | 30,127 |
| Mobile games | ? | ? | 115,486 | ? | ? | 99,019 | ? | ? | 144,003 | ? | ? | 106,393 | ? | ? | 197,567 | ? | ? | 259,489 | ? | ? | 191,717 |
| Other revenue | ? | ? | 3,172 | ? | ? | 4,503 | ? | ? | 4,766 | ? | ? | 3,521 | ? | ? | 7,669 | ? | ? | 7,938 | ? | ? | 5,865 |
| Total net revenue | ? | ? | 137,464 | ? | ? | 122,967 | ? | ? | 170,740 | ? | ? | 126,147 | ? | ? | 242,746 | ? | ? | 308,204 | ? | ? | 227,709 |
| Cost of revenue | ? | ? | 87,458 | ? | ? | 76,006 | ? | ? | 114,006 | ? | ? | 84,231 | ? | ? | 149,634 | ? | ? | 201,464 | ? | ? | 148,847 |
| Gross profit | ? | ? | 50,006 | ? | ? | 46,961 | ? | ? | 56,734 | ? | ? | 41,916 | ? | ? | 93,112 | ? | ? | 106,740 | ? | ? | 78,862 |
| Operating expenses: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Selling, general and administrative expenses | ? | ? | 21,859 | ? | ? | 28,108 | ? | ? | 33,509 | ? | ? | 24,757 | ? | ? | 43,855 | ? | ? | 55,368 | ? | ? | 40,907 |
| Research and development | ? | ? | 3,431 | ? | ? | 4,286 | ? | ? | 3,291 | ? | ? | 2,431 | ? | ? | 7,887 | ? | ? | 6,722 | ? | ? | 4,966 |
| Others, net | ? | ? | ?????????? (14) | ? | ? | ???????? (422) | ? | ? | ?????????? 264 | ? | ? | ?????????? 195 | ? | ? | ?????????? (488) | ? | ? | ?????????? 250 | ? | ? | ????????? 185 |
| Total operating expenses | ? | ? | 25,276 | ? | ? | 31,972 | ? | ? | 37,064 | ? | ? | 27,383 | ? | ? | 51,254 | ? | ? | 62,340 | ? | ? | 46,058 |
| Operating profit | ? | ? | 24,730 | ? | ? | 14,989 | ? | ? | 19,670 | ? | ? | 14,533 | ? | ? | 41,858 | ? | ? | 44,400 | ? | ? | 32,804 |
| Finance income(costs): | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Finance income | ? | ? | ????? 10,717 | ? | ? | ??????? 8,867 | ? | ? | ??????? 2,651 | ? | ? | ??????? 1,959 | ? | ? | ?????? 15,164 | ? | ? | ????? 13,368 | ? | ? | ?????? 9,877 |
| Finance costs | ? | ? | ????? (6,997) | ? | ? | ????? (3,799) | ? | ? | ????? (3,615) | ? | ? | ????? (2,671) | ? | ? | ??????? (4,467) | ? | ? | ??? (10,612) | ? | ? | ???? (7,840) |
| Profit before income tax | ? | ? | 28,450 | ? | ? | 20,057 | ? | ? | 18,706 | ? | ? | 13,821 | ? | ? | 52,555 | ? | ? | 47,156 | ? | ? | 34,841 |
| Income tax expense | ? | ? | 6,372 | ? | ? | 7,476 | ? | ? | 5,486 | ? | ? | 4,053 | ? | ? | 13,091 | ? | ? | 11,858 | ? | ? | 8,761 |
| Profit for the year | ? | ? | 22,078 | ? | ? | 12,581 | ? | ? | 13,220 | ? | ? | 9,768 | ? | ? | 39,464 | ? | ? | 35,298 | ? | ? | 26,080 |
| Profit attributable to: | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| Non-controlling interest | ? | ? | ???????????? 40 | ? | ? | ???????????? 12 | ? | ? | ?????????? (25) | ? | ? | ?????????? (18) | ? | ? | ?????????????? 29 | ? | ? | ???????????? 15 | ? | ? | ??????????? 12 |
| Owners of Parent company | ? | ? | 22,038 | ? | ? | 12,569 | ? | ? | 13,245 | ? | ? | 9,786 | ? | ? | 39,435 | ? | ? | 35,283 | ? | ? | 26,068 |
| Earnings per share | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| - Basic and diluted | ? | ? | ??????? 3,171 | ? | ? | ??????? 1,809 | ? | ? | ??????? 1,906 | ? | ? | ????????? 1.41 | ? | ? | ????????? 5,675 | ? | ? | ??????? 5,077 | ? | ? | ???????? 3.75 |
| Weighted average number of shares outstanding | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| - Basic and diluted | ? | ? | 6,948,900 | ? | ? | 6,948,900 | ? | ? | 6,948,900 | ? | ? | 6,948,900 | ? | ? | ?6,948,900 | ? | ? | 6,948,900 | ? | ? | 6,948,900 |
| Earnings per ADS | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
| - Basic and diluted | ? | ? | ??????? 3,171 | ? | ? | ??????? 1,809 | ? | ? | ??????? 1,906 | ? | ? | ????????? 1.41 | ? | ? | ????????? 5,675 | ? | ? | ??????? 5,077 | ? | ? | ???????? 3.75 |
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? |
* For convenience, the KRW amounts are expressed in U.S. dollars at the rate of KRW 1,353.50 to US
(1) Each ADS represents one common share.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ? | ? | ? |
| ? | GRAVITY CO., LTD. | |
| ? | ? | ? |
| ? | By: | /s/ Heung Gon Kim |
| ? | Name: | Heung Gon Kim |
| ? | Title: | Chief Financial Officer |
Date: August 8, 2025
FAQ
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