Gravity reported second-quarter 2025 revenue of KRW 170.7 billion, up 38.9% on a year earlier

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On Aug 8, 2025, Gravity Co. filed a Form 6-K, the report a foreign company listed in the US uses to pass on what it has made public, carrying its unaudited results for the second quarter ended June 30, 2025, prepared under International Financial Reporting Standards. Total revenues were KRW 170,740 million, 38.9% more than in the second quarter of 2024 and 24.2% more than in the first quarter of 2025. The release translated that into US$ 126.1 million for convenience only, at KRW 1,353.50 to US$1.00, the noon buying rate in effect on June 30, 2025.1^,2^,3^,4^,5

Operating profit was KRW 19,670 million, 31.2% above the second quarter of 2024 and 20.5% below the first quarter of 2025. Net profit attributable to the parent company, the share of profit that belongs to Gravity's own shareholders, was KRW 13,245 million, against KRW 22,038 million in the first quarter of 2025 and KRW 12,569 million in the second quarter of 2024. Cost of revenue was KRW 114,006 million, up 30.4% from KRW 87,458 million in the first quarter, and operating expenses were KRW 37,064 million, up 46.6% from KRW 25,276 million. The company tied the rise in cost of revenue from the first quarter to commission paid for mobile game services related to Ragnarok M: Classic in Taiwan, Hong Kong and Macau and Ragnarok X: Next Generation. It tied the rise in operating expenses from the first quarter mainly to advertising for Ragnarok Online America Latina, Nobunaga's Ambition: The Road to the World, Ragnarok Idle Adventure Plus and Ragnarok: Back to Glory.6^,4^,7^,8^,9^,10^,11

Mobile games brought in KRW 144,003 million, 24.7% more than in the first quarter (KRW 115,486 million) and 45.4% more than a year earlier (KRW 99,019 million). The company credited the quarterly rise to initial revenue from Ragnarok M: Classic, launched in Taiwan, Hong Kong and Macau on Apr 16, 2025, and Ragnarok X: Next Generation, launched on May 8, 2025, partly offset by lower revenue from Ragnarok: Rebirth, Ragnarok Origin and THE RAGNAROK. Online games brought in KRW 21,971 million, 16.8% more than in the first quarter (KRW 18,806 million), which the company attributed mainly to initial revenue from Ragnarok Online America Latina, launched in Latin America on May 28, 2025. The business update said Ragnarok M: Classic would launch in North and South America, Europe, the Middle East and Africa on Sep 3, 2025, and Ragnarok: The Promised Adventure in China on Oct 1, 2025.12^,13^,14^,15^,16^,17^,18

Gravity's annual report for the year ended December 31, 2024, a Form 20-F filed on Apr 25, 2025, gave operating income of KRW 85.38 billion for 2024, down from KRW 160.37 billion for 2023.19^,20^,21

The quarter's figures are the company's own unaudited ones as its release prints them; the investor presentation the release points to is not read here.22^,3