GRAVITY Co., Ltd. - GRVY STOCK NEWS

Seoul, Korea, June 23, 2021 – GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced the launch of Ragnarok X: Next Generation in 9 Southeast Asian countries on June 18, 2021. The MMORPG topped the Apple App Store charts in the region and previously ranked first in Taiwan, Hong Kong, and Macau. Pre-registration peaked at over 3 million, while the game achieved 2 million downloads within 5 days of release. Nuverse publishes the game, supported by Gravity Game Tech Co., Ltd. in Thailand. This success positions Gravity favorably in the competitive Southeast Asian gaming market.

Gravity Interactive, a subsidiary of Gravity Co., Ltd. (NASDAQ: GRVY), announced a significant update and promotion for its flagship PC game, Ragnarok Online, on June 10, 2021. This update includes class balance adjustments for Sura, Wanderer, and Maestro, along with the introduction of new Friday and Weekend dungeons. Players can register for a booster character to receive special gifts as they progress. This update continues the game's legacy, first launched in Korea in 2002.

Gravity Co., Ltd. (NASDAQ: GRVY) announced the closed beta test (CBT) for its 3D MMORPG, Ragnarok: Project S, starting June 22, 2021. This sequel to the successful Ragnarok: Valkyrie Uprising will be available globally for 7 days via their Facebook page. Participants can enjoy story quests, dungeons, and a new battleground featuring giant god warriors. The CBT aims to enhance user engagement, with various events and incentives. The game's development updates will be shared weekly, as interest grows with over 370,000 Facebook followers.

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.