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.
On September 7, 2022, GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced the 20th anniversary celebration of its MMORPG Ragnarok Online with the launch of the Ragnarok Game Jam in collaboration with The Sandbox. This event invites participants to create their own games within the Ragnarok universe, utilizing tools like VoxEdit and Game Maker provided by The Sandbox. A total of 250,000 SAND will be awarded as prizes, encouraging diverse participation in the contest. This partnership was formalized on July 27, 2022, enhancing the company's presence in the metaverse gaming landscape.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced the launch of its mobile game, Ragnarok Tactics II, in Thailand on September 1, 2022. This tactical SRPG allows players to collect monsters and grow their characters, emphasizing strategic deployment for battles. The game was initially launched in Taiwan, Hong Kong, and Macau on May 11, 2022. GRAVITY is known for its popular Ragnarok Online game, available in 91 markets worldwide.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) reported second-quarter 2022 results, revealing revenues of KRW 96,519 million (US$ 74,305 thousand), an 8.9% QoQ and 15.4% YoY increase. Operating profit reached KRW 22,115 million (US$ 17,025 thousand), a slight 0.9% QoQ decline but a 15.4% YoY rise. Net profit also saw an increase to KRW 17,465 million (US$ 13,445 thousand), reflecting growth across key titles like Ragnarok Online. The company maintains strong liquidity with KRW 282,748 million (US$ 217,674 thousand) in cash. Additionally, GRAVITY announced partnerships and upcoming game launches, enhancing its market position.
Seoul, Korea – July 27, 2022 – GRAVITY Co., Ltd. (NasdaqGM: GRVY) has entered a partnership with The Sandbox, a metaverse gaming platform. The collaboration involves creating Ragnarok LAND within The Sandbox, featuring various content and NFT items based on the popular Ragnarok IP. Additionally, Gravity will host a Game Jam contest, encouraging users to develop their own games using Ragnarok-themed digital assets. This partnership leverages the strong brand recognition of Ragnarok, providing users with diverse content and gaming experiences.
GRAVITY Co. Ltd. (NasdaqGM: GRVY) announced the upcoming launch of Ragnarok X: Next Generation in Korea in the second half of 2022. Following successful launches in Taiwan, Hong Kong, and Macau, where it topped gross revenue on Apple App Store and Google Play, the game also achieved significant success in Thailand, Indonesia, and the Philippines. This anticipated release in Korea is expected to raise user expectations and further leverage the popularity of the Ragnarok brand.
Gravity Co., Ltd. (NasdaqGM: GRVY) has officially launched Ragnarok V: Returns on May 25, 2022, in Oceania. This Multi-Platform MMORPG is developed by Gravity NeoCyon and is a sequel to the successful Ragnarok Online: Valkyrie Uprising, which boasts over 5 million global users. The game features advanced graphics and customizable gameplay experiences. Available on Google Play, the Apple App Store, and PC, Gravity is also holding various events to celebrate this release.
Gravity Co., Ltd. (NASDAQ: GRVY) has officially launched Ragnarok V: Returns in the Oceanic region at
The game, a sequel to Ragnarok: Valkyrie Uprising, has already attracted over five million global players and supports cross-play on iOS, Android, and PC. Positive feedback from beta testing highlights improved gameplay balance and nostalgia.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) reported its first-quarter financial results for 2022, showing total revenues of KRW 88,607 million (US$ 73,135 thousand), an 8.3% decrease QoQ and 15.7% YoY. Operating profit increased to KRW 22,316 million (US$ 18,419 thousand), up 138.2% QoQ yet down 20.2% YoY. Net profit attributable to the parent company reached KRW 16,431 million (US$ 13,562 thousand), marking an impressive 1,198.9% increase QoQ but a decrease of 30.3% YoY. The company also detailed upcoming game launches and updates related to the Ragnarok franchise.
GRAVITY Co., Ltd. (GRVY) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 28, 2022. The report reveals consolidated revenue of KRW 413,938 million, an operating profit of KRW 96,719 million, and a net profit of KRW 65,947 million. This reflects a year-over-year revenue growth of 2.0%, an operating profit increase of 9.5%, and a net profit rise of 5.2% compared to 2020. Shareholders can request a hard copy of the report free of charge.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced that its game Ragnarok Labyrinth NFT surpassed 1 million downloads in Southeast Asia on the first day of its re-opening on April 27, 2022. This innovative title, developed in partnership with ONBUFF Inc., utilizes a Play-to-Earn (P2E) system and NFT elements. The game achieved notable rankings, placing second in Apple App Store's top grossing in Thailand and third in the Philippines, while also securing the top spot for new free games on Google Play in the Philippines. The event showcases the strong popularity of the Ragnarok IP in the region.
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