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 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.
PSY, the iconic singer known for 'Gangnam Style', has returned as the ambassador for Gravity's mobile game, Ragnarok Origin. He has starred in commercials and unveiled plans to release a new song, his first in five years. To celebrate, Gravity will host community events and rewards. Recently, Ragnarok Origin launched a significant update that includes a new class, increased level cap to lvl90, new dungeons, and various events aimed at enhancing player engagement.
Gravity Co., Ltd. (NasdaqGM: GRVY) announced the re-opening of Ragnarok Labyrinth NFT on April 27, 2022, following improvements after initial login delays. The game, integrating a play-to-earn system, was launched in Southeast Asia on April 13 with over 1.1 million pre-registered accounts. To address user access issues, Gravity Game Link increased server capacity. The re-launch will offer pre-registration rewards and additional in-game items to attract users back after the upgrade.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced that its new game, Ragnarok Labyrinth NFT, has achieved over 1 million pre-registrations in Southeast Asia within just 22 days. The game, launching on April 13, 2022, incorporates a play-to-earn (P2E) system and is based on the popular The Labyrinth of Ragnarok. Players can pre-install the game on Google Play and will have access on the Apple App Store starting April 11, 2022. To celebrate the milestone, GRAVITY is offering rewards, including ONBUFF points and in-game currency, to incentivize further pre-registrations.
Gravity Co., Ltd. (NASDAQ: GRVY) will commence the second Closed Beta Test (CBT) for its new MMORPG, Ragnarok V: Returns, in Oceania starting April 6 and ending April 12. The CBT will be available on both mobile and PC platforms, marking the last testing phase before the game's official launch. Updates based on feedback from the first CBT have been implemented. Additionally, users can participate in promotional events during this period.
Gravity Co. is set to open pre-registration for its multi-platform MMORPG, Ragnarok V: Returns, starting March 16 in the Oceanian region. This follow-up to Ragnarok: Valkyrie Uprising, which attracted over five million players, promises a unique gameplay experience with special quests and aesthetic appeal. Pre-registration can be completed via the dedicated page or on the Google Play Store and Apple App Store. Milestone rewards will be based on the number of pre-registrations, including various in-game items.
GRAVITY Co., Ltd. (NasdaqGM: GRVY) has launched its flagship game, Ragnarok Online, in the Philippines, Singapore, and Malaysia on February 23, 2022. Celebrating its 20th anniversary, the game is now available in 91 markets. The company’s subsidiary, Gravity Game Hub PTE., Ltd., is managing the direct publishing, featuring events such as pre-registration bonuses. The launch aims to enhance the game's reach in Southeast Asia, reinforcing Gravity's role in the online gaming industry.
Gravity Co., Ltd. (NASDAQ: GRVY) will launch its first Closed Beta Test (CBT) for the new 3D MMORPG Ragnarok V: Returns on
GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced its preliminary unaudited financial results for Q4 2021, reporting a revenue of KRW 97 billion and an operating profit of KRW 10 billion. This represents a 24.6% quarter-over-quarter decline due to decreased revenues from key titles like Ragnarok X: Next Generation and Ragnarok Online. For the full year, revenue totaled KRW 414 billion. The company maintains a cash and short-term financial balance of KRW 247 billion. Upcoming game launches include Ragnarok Online in multiple Southeast Asian countries and the integration of blockchain elements in new titles.
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