GRAVITY ANNOUNCES FILING OF ANNUAL REPORT ON FORM 20-F FOR FISCAL YEAR 2024

Rhea-AI Summary

Gravity Co., (GRVY) has filed its annual report on Form 20-F for fiscal year 2024 with the SEC on April 25, 2025. The company reported significant year-over-year declines across key financial metrics:

• Consolidated revenue: KRW 500,845 million (31.0% decrease from 2023)
• Operating profit: KRW 85,384 million (46.8% decrease from 2023)
• Net profit attributable to parent company: KRW 84,919 million (35.7% decrease from 2023)

Shareholders and ADS holders can request a hard copy of the annual report containing audited consolidated financial statements from the company's IR Unit in Seoul, South Korea. The report is also accessible on Gravity's investor relations website.

Positive

• None.

Negative

• Revenue declined 31.0% YoY to KRW 500,845 million
• Operating profit fell 46.8% YoY to KRW 85,384 million
• Net profit decreased 35.7% YoY to KRW 84,919 million

Seoul, South Korea, April 25, 2025 (GLOBE NEWSWIRE) -- GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or the “Company”) today announced that the Company filed its annual report on Form 20-F for the fiscal year ended December 31, 2024 with the Securities and Exchange Commission on April 25, 2025. The annual report can be accessed on the Company’s investor relations Web site at https://www.gravity.co.kr/en/ir/notice.

The shareholders and ADS holders of Gravity may receive a hard copy of the annual report, which contains its audited consolidated financial statements, free of charge upon request. Requests should be directed to IR Unit, Gravity Co., Ltd., 15F, 396 World Cup buk-ro, Mapo-gu, Seoul 03925, South Korea.

In the annual report on Form 20-F, the consolidated revenue is KRW 500,845 million, the operating profit is KRW 85,384 million, and the net profit attributable to parent company is KRW 84,919 million for the fiscal year ended December 31, 2024.

(In millions of KRW)

	2024	2023	YoY
Revenue	500,845	725,516	-31.0%
Operating profit	85,384	160,367	-46.8%
Net profit attributable to parent company	84,919	132,019	-35.7%

About GRAVITY Co., Ltd. ---------------------------------------------------
Based in Korea, Gravity is a developer and publisher of online and mobile games. Gravity's principal product, Ragnarok Online, is a popular online game in many markets, including Japan and Taiwan, and is currently commercially offered in 91 regions. For more information about Gravity, please visit http://www.gravity.co.kr.

Contact:
Mr. Heung Gon Kim
Chief Financial Officer
Gravity Co., Ltd.
Email: kheung@gravity.co.kr

Ms. Jin Lee
Ms. Yujin Oh

IR Unit
Gravity Co., Ltd.
Email: ir@gravity.co.kr
Telephone: +82-2-2132-7800

FAQ

What are Gravity's (GRVY) financial results for fiscal year 2024?

Gravity reported revenue of KRW 500,845M, operating profit of KRW 85,384M, and net profit of KRW 84,919M for FY2024.

How much did Gravity's (GRVY) revenue decline in 2024 compared to 2023?

Gravity's revenue declined by 31.0% year-over-year, from KRW 725,516M in 2023 to KRW 500,845M in 2024.

What was the percentage drop in Gravity's (GRVY) operating profit for 2024?

Gravity's operating profit decreased by 46.8% year-over-year in 2024, falling to KRW 85,384M from KRW 160,367M in 2023.

Where can investors access Gravity's (GRVY) 2024 annual report?

Investors can access Gravity's 2024 annual report on Form 20-F at the company's IR website (www.gravity.kr/en/ir/notice) or request a hard copy from their IR Unit.