Gravity Financials

GRVY

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2016 Currency USD FYE December

This page shows Gravity (GRVY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI GRVY FY2016 2026-04-24

FY2016 reveals a margin-led turnaround, with cash generation returning faster than the balance sheet could fully reset.

After four loss-making years, FY2016 paired a gross-margin rebound to 41.6% with positive free cash flow of $1.9M, a sign that profit and cash flow finally started agreeing. Because capex was only $148K, the improvement looks like better cash conversion from the existing business rather than a recovery manufactured by slashing investment.

Liquidity tightened even as profits returned: the current ratio fell to 2.6x while current liabilities climbed to $17.2M. Receivables also reached $9.8M, which means part of the rebound was parked in customer balances rather than instantly rebuilding cash on hand, so better sales did not translate one-for-one into flexibility.

The balance sheet still reflects the long slump: equity ended FY2016 at $25.5M versus $84.2M in FY2012, showing how several years of losses consumed prior capital. That erosion helps explain why debt-to-equity sits at 0.8x; leverage looks higher because the equity base has been worn down, not because one profitable year rebuilt much cushion.

Financial Health Signals

Financial Profile 32/100

Based on FY2016 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Gravity's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Gravity has an operating margin of 6.7%, meaning the company retains $7 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -48.3% the prior year.

Growth

Gravity's revenue surged 40.0% year-over-year to $42.7M, reflecting rapid business expansion. This strong growth earns a score of 47/100.

Leverage

Gravity carries a low D/E ratio of 0.82, meaning only $0.82 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Gravity's current ratio of 2.58 indicates adequate short-term liquidity, earning a score of 49/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Gravity's free cash flow margin of 4.4% results in a low score of 9/100. Capital expenditures of $148K absorb a large share of operating cash flow.

Returns

Gravity generates a 0.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -55.6% the prior year.

Altman Z-Score Safe

13.03

Gravity scores 13.03, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($431.2M) relative to total liabilities ($20.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Strong

7/9

Gravity passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

9.74x

For every $1 of reported earnings, Gravity generates $9.74 in operating cash flow ($2.0M OCF vs $207K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$42.7M

YoY+40.0%

5Y CAGR-3.0%

Gravity generated $42.7M in revenue in fiscal year 2016. This represents an increase of 40.0% from the prior year.

EBITDA

$3.3M

YoY+130.7%

5Y CAGR-12.2%

Gravity's EBITDA was $3.3M in fiscal year 2016, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 130.7% from the prior year.

Net Income

$207K

YoY+101.4%

5Y CAGR-56.2%

Gravity reported $207K in net income in fiscal year 2016. This represents an increase of 101.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$1.9M

YoY+134.2%

Gravity generated $1.9M in free cash flow in fiscal year 2016, representing cash available after capex. This represents an increase of 134.2% from the prior year.

Cash & Debt

$13.9M

YoY-32.9%

5Y CAGR-19.0%

Gravity held $13.9M in cash against $0 in long-term debt as of fiscal year 2016.

Dividends Per Share

N/A

Shares Outstanding

YoY+0.0%

5Y CAGR+0.0%

Gravity had 7M shares outstanding in fiscal year 2016. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

41.6%

YoY+26.6pp

5Y CAGR-16.2pp

Gravity's gross margin was 41.6% in fiscal year 2016, indicating the percentage of revenue retained after direct costs. This is up 26.6 percentage points from the prior year.

Operating Margin

6.7%

YoY+55.0pp

5Y CAGR+1.2pp

Gravity's operating margin was 6.7% in fiscal year 2016, reflecting core business profitability. This is up 55.0 percentage points from the prior year.

Net Margin

0.5%

YoY+48.1pp

5Y CAGR-25.5pp

Gravity's net profit margin was 0.5% in fiscal year 2016, showing the share of revenue converted to profit. This is up 48.1 percentage points from the prior year.

Return on Equity

0.8%

YoY+56.5pp

5Y CAGR-13.9pp

Gravity's ROE was 0.8% in fiscal year 2016, measuring profit generated per dollar of shareholder equity. This is up 56.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$148K

YoY-58.5%

5Y CAGR-35.7%

Gravity invested $148K in capex in fiscal year 2016, funding long-term assets and infrastructure. This represents a decrease of 58.5% from the prior year.

GRVY Income Statement

Metric	FY16	FY15	FY14	FY13	FY12	FY11
Revenue	$42.7M+40.0%	$30.5M-16.6%	$36.6M-19.1%	$45.2M-16.8%	$54.3M+9.5%	$49.6M
Cost of Revenue	$24.9M-3.8%	$25.9M-17.4%	$31.3M-6.6%	$33.5M	N/A	N/A
Gross Profit	$17.8M+286.6%	$4.6M-12.0%	$5.2M-55.1%	$11.6M-45.9%	$21.5M-25.0%	$28.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$13.3M+35.4%	$9.8M-15.5%	$11.6M-28.1%	$16.2M	N/A	N/A
Operating Income	$2.8M+119.3%	-$14.7M-35.9%	-$10.8M+31.6%	-$15.9M+8.9%	-$17.4M-737.4%	$2.7M
Interest Expense	N/A	$3K-70.0%	$10K-74.4%	$39K-25.0%	$52K	N/A
Income Tax	$2.7M+133.1%	$1.2M-87.6%	$9.3M+92.2%	$4.8M+99.2%	$2.4M+135.4%	-$6.9M
Net Income	$207K+101.4%	-$14.5M+24.3%	-$19.2M-8.8%	-$17.6M-53.2%	-$11.5M-189.2%	$12.9M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'16	Q4'15	Q4'14	Q4'13	Q4'12	Q4'11
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

GRVY Balance Sheet

Metric	FY16	FY15	FY14	FY13	FY12	FY11
Total Assets	$45.8M+17.2%	$39.1M-32.4%	$57.8M-30.5%	$83.2M-20.0%	$104.0M-9.3%	$114.7M
Current Assets	$44.4M+18.7%	$37.4M-19.6%	$46.5M-16.4%	$55.6M-13.0%	$63.9M+3.0%	$62.0M
Cash & Equivalents	$13.9M-32.9%	$20.7M-14.7%	$24.3M-15.2%	$28.6M-17.2%	$34.5M-13.4%	$39.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$9.8M+117.1%	$4.5M-4.4%	$4.7M-6.4%	$5.1M-24.5%	$6.7M+20.5%	$5.6M
Goodwill	N/A	N/A	$1.1M-3.3%	$1.1M-68.4%	$3.6M-43.7%	$6.5M
Total Liabilities	$20.8M+54.9%	$13.5M-3.7%	$14.0M-21.4%	$17.8M-7.7%	$19.3M+0.4%	$19.2M
Current Liabilities	$17.2M+128.2%	$7.5M-14.9%	$8.8M-18.1%	$10.8M+10.7%	$9.8M-6.3%	$10.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$25.5M-2.3%	$26.1M-41.1%	$44.3M-32.6%	$65.7M-22.0%	$84.2M-4.2%	$87.9M
Retained Earnings	-$40.3M+3.4%	-$41.7M-43.1%	-$29.1M-182.5%	-$10.3M-242.5%	$7.2M-57.9%	$17.2M

Metric	Q4'16	Q4'15	Q4'14	Q4'13	Q4'12	Q4'11
Total Assets	$45.8M+17.2%	$39.1M-32.4%	$57.8M-30.5%	$83.2M-20.0%	$104.0M-9.3%	$114.7M
Current Assets	$44.4M+18.7%	$37.4M-19.6%	$46.5M-16.4%	$55.6M-13.0%	$63.9M+3.0%	$62.0M
Cash & Equivalents	$13.9M-32.9%	$20.7M-14.7%	$24.3M-15.2%	$28.6M-17.2%	$34.5M-13.4%	$39.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$9.8M+117.1%	$4.5M-4.4%	$4.7M-6.4%	$5.1M-24.5%	$6.7M+20.5%	$5.6M
Goodwill	N/A	N/A	$1.1M-3.3%	$1.1M-68.4%	$3.6M-43.7%	$6.5M
Total Liabilities	$20.8M+54.9%	$13.5M-3.7%	$14.0M-21.4%	$17.8M-7.7%	$19.3M+0.4%	$19.2M
Current Liabilities	$17.2M+128.2%	$7.5M-14.9%	$8.8M-18.1%	$10.8M+10.7%	$9.8M-6.3%	$10.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$25.5M-2.3%	$26.1M-41.1%	$44.3M-32.6%	$65.7M-22.0%	$84.2M-4.2%	$87.9M
Retained Earnings	-$40.3M+3.4%	-$41.7M-43.1%	-$29.1M-182.5%	-$10.3M-242.5%	$7.2M-57.9%	$17.2M

GRVY Cash Flow Statement

Metric	FY16	FY15	FY14	FY13	FY12	FY11
Operating Cash Flow	$2.0M+139.5%	-$5.1M+9.3%	-$5.6M-83.5%	-$3.1M-349.8%	-$683K-167.2%	$1.0M
Capital Expenditures	$148K-58.5%	$357K+13.7%	$314K-46.6%	$588K-57.5%	$1.4M+2.5%	$1.4M
Free Cash Flow	$1.9M+134.2%	-$5.5M+8.1%	-$6.0M-62.6%	-$3.7M-77.0%	-$2.1M-517.3%	-$335K
Investing Cash Flow	N/A	N/A	N/A	N/A	-$4.9M-102.6%	-$2.4M
Financing Cash Flow	N/A	N/A	N/A	N/A	$118K+181.4%	-$145K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'16	Q4'15	Q4'14	Q4'13	Q4'12	Q4'11
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

GRVY Financial Ratios

Metric	FY16	FY15	FY14	FY13	FY12	FY11
Gross Margin	41.6%+26.6pp	15.1%+0.8pp	14.3%-11.5pp	25.8%-13.8pp	39.6%-18.2pp	57.8%
Operating Margin	6.7%+55.0pp	-48.3%-18.7pp	-29.7%+5.4pp	-35.1%-3.1pp	-32.0%-37.5pp	5.5%
Net Margin	0.5%+48.1pp	-47.6%+4.8pp	-52.4%-13.4pp	-39.0%-17.8pp	-21.2%-47.1pp	26.0%
Return on Equity	0.8%+56.5pp	-55.6%-12.3pp	-43.3%-16.5pp	-26.8%-13.2pp	-13.7%-28.3pp	14.7%
Return on Assets	0.4%+37.5pp	-37.1%-4.0pp	-33.1%-12.0pp	-21.2%-10.1pp	-11.1%-22.3pp	11.2%
Current Ratio	2.58-2.4	4.96-0.3	5.25+0.1	5.14-1.4	6.55+0.6	5.96
Debt-to-Equity	0.82+0.3	0.52+0.2	0.32+0.0	0.27+0.0	0.23+0.0	0.22
FCF Margin	4.4%+22.3pp	-17.9%-1.7pp	-16.3%-8.2pp	-8.1%-4.3pp	-3.8%-3.1pp	-0.7%

Metric	Q4'16	Q4'15	Q4'14	Q4'13	Q4'12	Q4'11
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	2.58-2.4	4.96-0.3	5.25+0.1	5.14-1.4	6.55+0.6	5.96
Debt-to-Equity	0.82+0.3	0.52+0.2	0.32+0.0	0.27+0.0	0.23+0.0	0.22
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Gravity's annual revenue?

Gravity (GRVY) reported $42.7M in total revenue for fiscal year 2016. This represents a 40.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Gravity's revenue growing?

Gravity (GRVY) revenue grew by 40% year-over-year, from $30.5M to $42.7M in fiscal year 2016.

Is Gravity profitable?

Yes, Gravity (GRVY) reported a net income of $207K in fiscal year 2016, with a net profit margin of 0.5%.

What is Gravity's EBITDA?

Gravity (GRVY) had EBITDA of $3.3M in fiscal year 2016, measuring earnings before interest, taxes, depreciation, and amortization.

What is Gravity's gross margin?

Gravity (GRVY) had a gross margin of 41.6% in fiscal year 2016, indicating the percentage of revenue retained after direct costs of goods sold.

What is Gravity's operating margin?

Gravity (GRVY) had an operating margin of 6.7% in fiscal year 2016, reflecting the profitability of core business operations before interest and taxes.

What is Gravity's net profit margin?

Gravity (GRVY) had a net profit margin of 0.5% in fiscal year 2016, representing the share of revenue converted into profit after all expenses.

What is Gravity's return on equity (ROE)?

Gravity (GRVY) has a return on equity of 0.8% for fiscal year 2016, measuring how efficiently the company generates profit from shareholder equity.

What is Gravity's free cash flow?

Gravity (GRVY) generated $1.9M in free cash flow during fiscal year 2016. This represents a 134.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Gravity's operating cash flow?

Gravity (GRVY) generated $2.0M in operating cash flow during fiscal year 2016, representing cash generated from core business activities.

What are Gravity's total assets?

Gravity (GRVY) had $45.8M in total assets as of fiscal year 2016, including both current and long-term assets.

What are Gravity's capital expenditures?

Gravity (GRVY) invested $148K in capital expenditures during fiscal year 2016, funding long-term assets and infrastructure.

How many shares does Gravity have outstanding?

Gravity (GRVY) had 7M shares outstanding as of fiscal year 2016.

What is Gravity's current ratio?

Gravity (GRVY) had a current ratio of 2.58 as of fiscal year 2016, which is generally considered healthy.

What is Gravity's debt-to-equity ratio?

Gravity (GRVY) had a debt-to-equity ratio of 0.82 as of fiscal year 2016, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Gravity's return on assets (ROA)?

Gravity (GRVY) had a return on assets of 0.4% for fiscal year 2016, measuring how efficiently the company uses its assets to generate profit.

What is Gravity's Altman Z-Score?

Gravity (GRVY) has an Altman Z-Score of 13.03, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Gravity's Piotroski F-Score?

Gravity (GRVY) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Gravity's earnings high quality?

Gravity (GRVY) has an earnings quality ratio of 9.74x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Gravity?

Gravity (GRVY) scores 32 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.