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.
Seoul, Korea – March 28, 2023 – GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced the launch of Ragnarok Origin in Southeast Asia on April 6, 2023. This mobile game has surpassed three million pre-registrations, marking the fastest growth for a Ragnarok IP title. The game features upgraded graphics and retains key elements from the original Ragnarok IP, appealing to users across various regions, including Korea and North America. The Closed Beta Test (CBT) from March 2 to 22 was fully subscribed, demonstrating strong interest. Publishing in Southeast Asia will be handled by GRAVITY GAME HUB, with promotional events planned post-launch.
Gravity announced the winner of the Dream Giveaway event, with Alen from San Diego winning a 2022 Tesla Model S valued at approximately
New content includes the introduction of Rogue and Stalker classes, along with a 20-floor PVE dungeon, the Fantasy Land of Memories. Players can log in for a chance to win additional in-game rewards during the ongoing After Party Event until April 25.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced its preliminary unaudited financial results for Q4 2022, reporting a revenue of KRW 176 billion, a 71.9% increase QoQ and 82.2% YoY, driven by strong performance from Ragnarok Origin in Taiwan, Hong Kong, and Macau. The operating profit for Q4 stood at KRW 39 billion. For the full year 2022, total revenue reached KRW 464 billion, with an operating profit of KRW 105 billion. Cash and short-term financial instruments totaled KRW 337 billion as of December 31, 2022. Significant business updates include the successful launch of multiple Ragnarok games and a global publishing agreement with SKYWALK.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) has launched Ragnarok X: Next Generation, an MMORPG mobile game, in Korea as of January 5, 2023. This game is the third installment of the Ragnarok 20th Anniversary Trilogy, featuring a unique story, vibrant 3D graphics, and various gameplay options. The game secured over 1 million pre-registrations and previously achieved top-grossing rankings on app stores in various regions. It has also received positive reviews during its Closed Beta Test, showcasing its potential in the mobile gaming market.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) reported third-quarter 2022 financials with total revenues at KRW 102,377 million (US$ 71,509 thousand), marking a 6.1% increase QoQ but a 20.4% decrease YoY. Operating profit was KRW 21,271 million (US$ 14,857 thousand), down 3.8% QoQ and 47.1% YoY. Net profit attributable to the parent company decreased by 8.0% QoQ and 39.0% YoY, amounting to KRW 16,076 million (US$ 11,229 thousand). The company also launched several games, including Ragnarok Origin in September 2022, amidst a broader strategy to enhance its online game portfolio.
Gravity announced the Closed Beta launch of its game 'Ragnarok Begins' in North America from October 14 to 18. This marks the first side-scrolling MMORPG under the Ragnarok IP, available on both PC and mobile platforms. The beta aims to deliver unique gameplay experiences with non-targeting battles and side-scrolling mechanics. Users can participate in events with prizes, including E-gift cards worth up to $500. Gravity, listed on NASDAQ, boasts over 120 million global accounts for its flagship IP.
On September 27, 2022, GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced the launch of Ragnarok Arena in South Korea. This tactical SRPG enables players to collect monsters and customize their characters, offering unique gameplay elements like real-time siege warfare. Following its success in Taiwan, Hong Kong, and Macau, where it topped free-download rankings, Ragnarok Arena continues to gain popularity, having recently launched in Thailand, achieving high rankings in both the Apple App Store and Google Play Store.
Gravity Game Link announces the global launch of its first Ragnarok Online IP Play To Earn game, Ragnarok Labyrinth NFT, on 22 September 2022.
Available on Android and iOS in over 170 countries, the game features blockchain technology integrated with ONBUFF Points. Pre-registrations exceeded 300,000, offering exclusive in-game benefits. This Free-To-Play game aims to engage players with maze-like dungeons, bringing new experiences to the MMORPG genre and rewards through digital financial assets.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) has launched Ragnarok Labyrinth NFT globally via its Indonesian subsidiary, PT Gravity Game Link, on September 22, 2022. This mobile MMORPG features a play-to-earn (P2E) system and marks the first NFT title based on the popular Ragnarok IP. Upon its re-opening in Southeast Asia, it achieved over 1 million downloads on the first day and ranked highly in app store revenue charts in Thailand and the Philippines. The launch excludes China, Japan, and Korea, with various in-game events planned for players.
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