Gravity Co ( (GRVY) ) has released its Q4 earnings. Here is a breakdown of the information Gravity Co presented to its investors.
Gravity Co., Ltd. is a South Korean developer and publisher of online and mobile games, known for its popular Ragnarok Online series, which is available in 91 regions worldwide.
In its preliminary unaudited financial results for the fourth quarter of 2024, Gravity reported a consolidated revenue of KRW 130 billion and an operating profit of KRW 16 billion. The company’s performance was bolstered by the launch of several Ragnarok titles in various regions, contributing to a 1.3% increase in quarter-over-quarter revenue, although there was a 10.7% decrease year-over-year.
Key highlights from the report include the successful launch of multiple Ragnarok games across different markets, such as Southeast Asia, Taiwan, Hong Kong, Macau, and Japan. Additionally, Gravity received ISBN codes for two Ragnarok IP-based games in China, indicating potential future growth in this market. The company also maintains a strong liquidity position with cash and cash equivalents totaling KRW 553,202 million.
Looking ahead, Gravity plans to expand its game offerings with several new launches scheduled for 2025, including Ragnarok V: Returns in Southeast Asia and Ragnarok Landverse in Vietnam and Latin America. The company remains focused on leveraging its popular Ragnarok IP to drive growth and explore new market opportunities.