Welcome to our dedicated page for GRAVITY Co., Ltd. news (Ticker: GRVY), a resource for investors and traders seeking the latest updates and insights on GRAVITY Co., Ltd. stock.
GRAVITY Co., Ltd. (Symbol: GRVY) is a premier developer, servicer, and publisher of online and mobile games, headquartered in South Korea. The company has established itself as a formidable force in the global gaming industry with its iconic titles like Ragnarok Online, Ragnarok II, and Requiem Online. With over 91 markets globally, Gravity's games appeal to a diverse audience, cementing its position in the online gaming sector.
The company’s flagship product, Ragnarok Online, is a renowned MMORPG that has captivated a vast number of gamers worldwide. Gravity continues to innovate and expand its gaming portfolio, with recent launches like Ragnarok Begins in South Korea and Ragnarok Idle Adventure in Thailand, which have achieved top rankings on both the Apple App Store and Google Play.
Gravity is not just confined to online gaming; the company is diversifying its business into mobile gaming, leveraging its popular titles to create mobile versions. The company is also venturing into augmented reality with projects like Ragnarok Real World Experience, a limited-time AR graphic exhibition in Bangkok, Thailand.
On the publishing front, Gravity is executing a multi-use strategy, extending its high-quality content into music, merchandising, and animation. This diversification strategy is aimed at maximizing the brand value and providing multiple entertainment options under the Gravity umbrella.
The company’s financial health appears robust, supported by a diverse revenue stream from online games, mobile games, and character-based merchandise. Gravity has also formed strategic partnerships and established subsidiaries like Gravity Game Arise in Japan, to spearhead game development and publishing in different regions.
Gravity’s future projects include ambitious launches such as KAMiBAKO and TOKYO PSYCHODEMIC in global markets, showcasing their commitment to innovation and market expansion. Moreover, the company is poised to enter the blockchain gaming space with Ragnarok Landverse, an MMORPG based on P2E systems.
For more information, contact Mr. Heung Gon Kim, Chief Financial Officer at kheung@gravity.co.kr, or Ms. Jin Lee, IR Manager at ir@gravity.co.kr.
Gravity Interactive, a subsidiary of Gravity Co., Ltd. (NASDAQ: GRVY), has re-launched its PC game Dragon Saga in several European regions, including Switzerland, Norway, the UK, and Turkey, as of May 12, 2021. Players can reactivate their accounts via a password recovery process. The game features fast-paced combat, PvP modes, and a unique pet system. To celebrate the return, the company will host various welcome back events and gifts for players. Read the full release.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) reported its unaudited financial results for Q1 2021, showing total revenues of KRW 105,059 million (US$ 93,243 thousand), a 6.6% decline QoQ but a 43.4% increase YoY. Operating profit rose by 2.2% QoQ to KRW 27,953 million (US$ 24,809 thousand) and increased 169.9% YoY. The net profit attributable to the parent company reached KRW 23,565 million (US$ 20,915 thousand), up 56.4% QoQ and 154.4% YoY. The company also provided updates on the launch of several games and investor presentations.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2020. The report discloses a consolidated revenue of KRW 405,953 million, with an operating profit of KRW 88,368 million and a net profit of KRW 62,703 million. This represents a year-over-year revenue growth of 12.5%, an operating profit increase of 81.6%, and a 57.2% rise in net profit. Shareholders can request a hard copy of the annual report with audited financial statements at no cost.
Gravity Co., Ltd. (NASDAQ: GRVY) announced the global launch of its mobile game Ragnarok: Poring Merge on April 12, available in 145 regions including Korea, the U.S., and Thailand. This casual time-effective RPG features the character Poring in various roles and multiple game modes such as World Boss and PVP. The game supports multiple languages, including Korean, English, and Spanish. To celebrate the launch, Gravity will host a surprise event providing 777 diamonds to players who complete the tutorial, enhancing user engagement and excitement.
Gravity Co., Ltd. (NasdaqGM: GRVY) reported preliminary unaudited financial results for Q4 2020, revealing a revenue of KRW 112 billion and an operating profit of KRW 27 billion, a 14.7% decrease QoQ. Key revenue drops were attributed to diminished performance in popular titles like Ragnarok Origin and Ragnarok Online. For the entire year, consolidated revenue stood at KRW 406 billion with an operating profit of KRW 88 billion. The company also announced expansions into new markets with upcoming game launches and established a subsidiary in Singapore to enhance service offerings.
GRAVITY Co., Ltd. (GRVY) reported strong financial results for Q3 2020, with total revenues at KRW 131,795 million (US$ 113,034 thousand), marking a 49.0% QoQ and 69.9% YoY increase. Operating profit soared 110.6% QoQ to KRW 34,356 million (US$ 29,465 thousand), and net profit rose 93.1% QoQ to KRW 25,281 million (US$ 21,682 thousand). The growth was driven by successful launches of games like Ragnarok Origin in Korea and increased revenues from regional markets, despite declines in specific titles. The company also updated on several game launches planned for 2021.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) has announced that its mobile game, Ragnarok X: Next Generation, has reached the top grossing spot on Google Play in Taiwan and Hong Kong, also performing well on the Apple App Store. This achievement highlights the game's increasing popularity in these regions.
In response to user support, Gravity intends to enhance long-term engagement through collaboration with publisher ByteDance Ltd. Gravity's subsidiary in Taiwan supports this partnership as a joint publisher.
On October 15, 2020, Gravity Co., Ltd. (GRVY) launched its MMORPG mobile game, Ragnarok X: Next Generation, in Taiwan, Hong Kong, and Macau. Published by ByteDance Ltd., the game garnered over 800,000 pre-registrations prior to its release, ranking first in top grossing games on the Apple App Store and second on Google Play as of October 21. The company plans to enhance user experience with various events and rewards. This early success positions Gravity for increased popularity in the mobile gaming market.
Gravity Co., Ltd. (NASDAQ: GRVY) launched its new idle MMORPG, The Labyrinth of Ragnarok, in the Philippines, Singapore, and Malaysia on October 14, 2023. The game offers unique features such as automatic hunting, maze escapes, and PVP battles, enhancing user engagement. Pre-registration attracted over 350,000 users, indicating strong interest. The game is available in multiple languages, including English and Tagalog, with ongoing updates planned for its 36 stages. Gravity aims to leverage its established Ragnarok IP for future game releases.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) has announced the upcoming launch of its MMORPG mobile game, Ragnarok X: Next Generation, in Taiwan, Hong Kong, and Macau on October 15, 2020. The game has already garnered over 300,000 pre-registrations and will feature promotional content released soon to engage users. Pre-registration is open on both the App Store and Google Play platforms, showcasing the company's strategic initiative to enhance its market presence in key Asian regions.
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