Gravity reported third-quarter 2025 revenue of KRW 138.9 billion, up 8.2% 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 Nov 7, 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 third quarter ended September 30, 2025, prepared under International Financial Reporting Standards. Total revenues were KRW 138,894 million, 8.2% more than in the third quarter of 2024 and 18.7% less than in the second quarter of 2025. The release translated that into US$ 98.9 million for convenience only, at KRW 1,404.63 to US$1.00, the noon buying rate in effect on September 30, 2025.1^,2^,3^,4^,5

Operating profit was KRW 21,276 million, 8.2% above the second quarter of 2025 and 22.8% below the third quarter of 2024. Net profit attributable to the parent company, the share of profit that belongs to Gravity's own shareholders, was KRW 19,869 million, against KRW 13,245 million in the second quarter of 2025 and KRW 22,385 million in the third quarter of 2024. Cost of revenue was KRW 88,542 million, down 22.3% from KRW 114,006 million in the second quarter, and operating expenses were KRW 29,076 million, down 21.6% from KRW 37,064 million. The company tied the fall in cost of revenue mainly to lower commission paid for mobile game services related to Ragnarok M: Classic in Southeast Asia and in Taiwan, Hong Kong and Macau. It tied the fall in operating expenses mainly to less advertising for Ragnarok Online America Latina, Ragnarok: Back to Glory and Nobunaga's Ambition: The Road to the World, and to lower research and development expenses.6^,4^,7^,8^,9^,10^,11

Mobile games brought in KRW 109,571 million, 23.9% less than in the second quarter (KRW 144,003 million) and 6.9% more than a year earlier (KRW 102,524 million). The company attributed the quarterly fall mainly to lower revenue from Ragnarok M: Classic in Southeast Asia and in Taiwan, Hong Kong and Macau, partly offset by initial revenue from Ragnarok: Twilight, launched in Taiwan, Hong Kong and Macau on Jul 3, 2025, more revenue from Ragnarok X: Next Generation, and initial revenue from Ragnarok M: Classic Global, launched on Sep 3, 2025. Online games brought in KRW 25,968 million, 18.2% more than in the second quarter (KRW 21,971 million) and 32.1% more than a year earlier (KRW 19,657 million); the company tied the quarterly rise mainly to initial revenue from Ragnarok Zero. The business update said Ragnarok: The Promised Adventure had launched in China on Sep 25, 2025, and that Gravity had signed a publishing agreement with TOMY COMPANY, LTD. for the Game of LIFE for Nintendo Switch in Asia except Japan, with the game then due on Dec 18, 2025.12^,13^,14^,15^,16^,17^,18^,19^,20

Gravity's annual report for 2024, a Form 20-F, gave operating income of KRW 85.38 billion for 2024, down from KRW 160.37 billion for 2023.21^,22^,23

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.24^,3