Core Insights - Gravity Co., Ltd. reported its unaudited financial results for Q3 2025, showing mixed performance across its online and mobile game segments, with notable revenue increases from new game launches [1][3][10]. Financial Performance - Online game revenues reached KRW 25,968 million (US$ 18,487 thousand), an 18.2% increase QoQ and a 32.1% increase YoY, driven by the launch of Ragnarok Zero in Taiwan, Hong Kong, and Macau [3][4]. - Mobile game revenues were KRW 109,571 million (US$ 78,007 thousand), reflecting a 23.9% decrease QoQ but a 6.9% increase YoY, influenced by decreased revenues from Ragnarok M: Classic and offset by new game launches [5]. - Other revenues decreased to KRW 3,355 million (US$ 2,389 thousand), a 29.6% decrease QoQ and a 45.8% decrease YoY [6]. - Total revenues amounted to KRW 138,894 million (US$ 98,883 thousand), an 18.7% decrease QoQ but an 8.2% increase YoY [10]. Cost and Profitability - Cost of revenue was KRW 88,542 million (US$ 63,036 thousand), a 22.3% decrease QoQ and a 16.1% increase YoY [7]. - Operating expenses totaled KRW 29,076 million (US$ 20,700 thousand), down 21.6% QoQ but up 18.5% YoY [8]. - Profit before income tax expense was KRW 27,207 million (US$ 19,369 thousand), a 45.4% increase QoQ but a 4.3% decrease YoY [9][10]. - Net profit attributable to the parent company was KRW 19,869 million (US$ 14,145 thousand), a 50.0% increase QoQ but an 11.2% decrease YoY [11]. Liquidity Position - As of September 30, 2025, the balance of cash and cash equivalents and short-term financial instruments was KRW 609,927 million (US$ 434,226 thousand) [12]. Business Updates - Several new games were launched, including Ragnarok Idle Adventure Plus in Korea and Ragnarok M: Classic Global in various regions, contributing to revenue growth [13][15]. - Upcoming launches include Ragnarok Landverse Genesis America on December 11, 2025, and Ragnarok: Back to Glory in China in Q4 2025 [15][17].

Financial Performance - Gravity reported revenue of KRW 171 billion in 2025 2Q, a 242% QoQ increase and a 389% YoY increase[21] - Operating profit for 2025 2Q was KRW 20 billion, a 205% QoQ decrease but a 312% YoY increase[21] - Mobile games contributed KRW 144003 million to the total revenue in 2025 2Q[27] - PC games generated KRW 21971 million in revenue in 2025 2Q[27] - The largest regional revenue contribution came from Southeast Asia & others, accounting for 434% of the total in 2025 2Q[23] Game Launch and Pipeline - Gravity plans to launch "Ragnarok 3" globally in 2026[121] - "Ragnarok M Classic" is scheduled for additional launch in North and South America, Europe, Middle East, and Africa on September 3, 2025[49, 55, 121] - "PROJECT ABYSS" is scheduled for initial launch in Southeast Asia in 4Q 2025[62, 121] - "Ragnarok The Promised Adventure" is planned for launch in China on October 1, 2025[74, 121] Business Strategy - Gravity aims to maximize sustained growth and brand value through an IP-driven, multi-title strategy[32, 35, 40] - The company is expanding its global influence through various games based on the Ragnarok IP, leveraging subsidiaries in Thailand, Taiwan, Indonesia, Singapore, Hong Kong, America, and Malaysia[131]

Core Insights - Gravity Co., Ltd. reported its unaudited financial results for Q2 2025, showing significant growth in revenues driven by new game launches and expansions in various markets [1][2]. Financial Performance - Total revenues for Q2 2025 reached KRW 170,740 million (US$ 126,147 thousand), marking a 24.2% increase QoQ and a 38.9% increase YoY [9]. - Online game revenues were KRW 21,971 million (US$ 16,233 thousand), up 16.8% QoQ and 13.0% YoY, primarily due to the launch of Ragnarok Online America Latina [3]. - Mobile game revenues surged to KRW 144,003 million (US$ 106,393 thousand), reflecting a 24.7% increase QoQ and a 45.4% increase YoY, driven by new titles like Ragnarok M: Classic and Ragnarok X: Next Generation [4]. - Other revenues increased to KRW 4,766 million (US$ 3,521 thousand), a 50.3% increase QoQ and 5.8% increase YoY [5]. Cost and Expenses - Cost of revenue for Q2 2025 was KRW 114,006 million (US$ 84,231 thousand), representing a 30.4% increase QoQ and a 50.0% increase YoY, mainly due to commissions for mobile game services [6]. - Operating expenses rose to KRW 37,064 million (US$ 27,383 thousand), a 46.6% increase QoQ and 15.9% increase YoY, largely due to increased advertising expenses for new game launches [7]. Profitability - Operating profit for Q2 2025 was KRW 19,670 million (US$ 14,533 thousand), down 20.5% QoQ but up 31.2% YoY [9]. - Profit before income tax expense was KRW 18,706 million (US$ 13,821 thousand), a decrease of 34.2% QoQ and 6.7% YoY [9]. - Net profit attributable to the parent company was KRW 13,245 million (US$ 9,786 thousand), down 39.9% QoQ but up 5.4% YoY [10]. Liquidity - As of June 30, 2025, the company had cash and cash equivalents totaling KRW 576,840 million (US$ 426,184 thousand) [11]. Business Updates - Several new games were launched or are scheduled for launch, including Ragnarok: The Promised Adventure in China on October 1, 2025, and Ragnarok M: Classic in North and South America on September 3, 2025 [12][13]. - The company continues to expand its game portfolio with various titles across different regions, indicating a strong growth strategy [12][15].

Financial Performance - 2025年第一季度，公司收入为1380亿韩元，同比增长14.8%，环比增长6.0%[17]。 - 2025年第一季度，公司营业利润为250亿韩元，同比下降8.0%，环比增长55.0%[17]。 - 2025年第一季度，移动游戏收入占比为84.0%[20]。 - 2025年第一季度，东南亚及其他地区收入占比为53.1%[19]。 Game Releases and Strategy - 公司预计通过全面的全球市场扩张，在2025年实现持续的营收增长[29, 37, 45]。 - 《仙境传说M:经典版》在东南亚成功上线，并在泰国、菲律宾和印度尼西亚的App Store和Google Play畅销榜上名列前茅[34]。 - 《仙境传说X:下一代》计划于2025年第二季度在欧洲（英国、葡萄牙、西班牙、爱尔兰除外）推出[77]。 - 《Ragnarok Online America Latina》计划于2025年5月28日直接服务于拉丁美洲地区[55]。 - 公司正在通过子公司在泰国、台湾、印度尼西亚、新加坡、香港、美国和马来西亚等地的各种游戏，瞄准全球市场，以扩大Ragnarok IP的影响力[128]。 Business Development - 《Ragnarok Landverse Genesis》在RONIN平台上交易量排名第一[16, 103]。 - 公司于2025年3月12日正式在马来西亚成立全资子公司GRAVITY Game Unite Sdn Bhd，为在马来西亚市场拓展业务奠定基础[113, 115]。

Core Viewpoint - Gravity Co., Ltd. reported its unaudited financial results for Q1 2025, showing mixed performance across its online and mobile game segments, with overall revenue growth year-over-year but some declines quarter-over-quarter in specific areas [1][3][9]. Financial Results Summary Revenues - Online game revenues for Q1 2025 were KRW 18,806 million (US$ 12,755 thousand), a 5.1% decrease QoQ and a 4.1% increase YoY [3]. - Mobile game revenues reached KRW 115,486 million (US$ 78,325 thousand), reflecting a 9.4% increase QoQ and a 17.2% increase YoY [4]. - Other revenues totaled KRW 3,172 million (US$ 2,151 thousand), showing a 26.5% decrease QoQ but a slight 0.2% increase YoY [5]. Cost of Revenue - Cost of revenue was KRW 87,458 million (US$ 59,316 thousand), representing an 8% increase QoQ and an 18.8% increase YoY [6]. Operating Expenses - Operating expenses were KRW 25,276 million (US$ 17,143 thousand), a 22.9% decrease QoQ and a 31.1% increase YoY [7]. Profitability - Profit before income tax expenses was KRW 28,450 million (US$ 19,295 thousand), a 12.1% increase QoQ but a 12.5% decrease YoY [8]. - Net profit attributable to the parent company was KRW 22,038 million (US$ 14,947 thousand), a 4.6% decrease QoQ and an 18% decrease YoY [9]. Liquidity - As of March 31, 2025, the balance of cash and cash equivalents and short-term financial instruments was KRW 577,163 million (US$ 391,446 thousand) [10]. Business Updates Summary Game Launches - Ragnarok M: Classic launched in Southeast Asia on February 14, 2025, and in Taiwan, Hong Kong, and Macau on April 16, 2025 [12]. - Ragnarok Idle Adventure Plus launched globally on February 20, 2025, with further launches planned for Taiwan, Hong Kong, and Macau in Q2 2025 [12]. - Ragnarok X: Next Generation launched in various regions on May 8, 2025, with a European launch planned for Q2 2025 [12]. - Other games such as Ragnarok V: Returns and Ragnarok: Back to Glory were launched in Southeast Asia and Korea in March and April 2025, respectively [12]. Expansion Initiatives - Gravity established a new subsidiary, Gravity Game Unite, in Malaysia on March 12, 2025, to expand game services in the region [17]. - The company opened its first indoor-screen golf facility based on Ragnarok characters in Taipei, Taiwan, on February 27, 2025 [16].

Core Insights - GRAVITY Co., Ltd. has successfully launched its MMORPG mobile game, Ragnarok M: Classic, in Taiwan, Hong Kong, and Macau on April 16, 2025, achieving significant early success in these markets [1][2]. Performance Metrics - Ragnarok M: Classic ranked second in free downloads on Google Play in Taiwan and Macau, first in free downloads on the Apple App Store in Taiwan, and second in Hong Kong and Macau [2]. - The game also achieved first place in top grossing on the Apple App Store in Taiwan, second in Macau, and fourth in Hong Kong [2]. - The game recorded over 100,000 downloads on its first day and was prominently featured on major app stores, ranking second in mobile game rankings on Bahamut, a well-known gaming community [2]. Company Statements - The company expressed satisfaction with the game's performance in the new markets, highlighting the positive response from local users and the hosting of various events to celebrate the launch [3].

Core Insights - GRAVITY Co., Ltd. has successfully launched its MMORPG mobile game, Ragnarok M: Classic, in Taiwan, Hong Kong, and Macau on April 16, 2025, achieving significant early success in these markets [1][2]. Performance Metrics - Ragnarok M: Classic ranked second in free downloads on Google Play in Taiwan and Macau, first in free downloads on the Apple App Store in Taiwan, and second in Hong Kong and Macau [2]. - The game also achieved first place in top grossing on the Apple App Store in Taiwan, second in Macau, and fourth in Hong Kong [2]. - The game recorded over 100,000 downloads on its first day and was prominently featured on major app stores, ranking second in mobile game rankings on Bahamut, a well-known gaming community [2]. Company Statements - The company expressed satisfaction with the game's performance in the new markets, highlighting the positive response from local users and the hosting of various events to celebrate the launch [3].