Gravity Reports Preliminary Unaudited 4Q 2025 Results and Business Updates
Rhea-AI Summary
Gravity (NASDAQ: GRVY) reported preliminary unaudited results for Q4 2025 and business updates. Q4 tentative revenue was KRW 113 billion with operating profit KRW 12 billion, down 18.6% QoQ and 12.9% YoY. FY2025 tentative revenue was KRW 560 billion and operating profit KRW 77 billion. Cash and short-term instruments totaled KRW 618,633 million as of December 31, 2025. The company listed multiple game launches across regions in late 2025–2026, including strong early rankings for Ragnarok: The New World in Taiwan, Hong Kong and Macau. Figures are preliminary and unaudited.
Positive
- Tentative FY2025 revenue of KRW 560 billion
- Tentative FY2025 operating profit of KRW 77 billion
- Cash and short-term instruments balance of KRW 618,633 million
- Ragnarok: The New World ranked #1 in free downloads and top-grossing on Apple App Store in Taiwan, Hong Kong and Macau
- Multiple regional launches across late 2025–2026 expanding global footprint
Negative
- Q4 2025 tentative revenue declined 18.6% QoQ
- Q4 2025 tentative revenue declined 12.9% YoY
- Preliminary fourth quarter and FY2025 figures are unaudited and subject to revision
- Q4 2025 tentative operating profit was KRW 12 billion, indicating lower quarterly profitability
Key Figures
Market Reality Check
Peers on Argus
GRVY slipped 0.28% while peers were mixed: DDI up 3.31%, but SOHU, GCL, GDEV, and PLTK down between 1.05% and 4.47%, pointing to stock-specific dynamics.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Aug 08 | Q2 2025 earnings | Positive | -2.5% | Strong revenue growth led by mobile titles but margin pressure and profit declines. |
| May 09 | Q1 2025 earnings | Positive | +5.8% | Revenue and operating profit growth driven by mobile games and new launches. |
| Apr 25 | 2024 annual report | Negative | +1.8% | Significant YoY declines in revenue, operating profit and net profit for 2024. |
| Feb 14 | Prelim Q4 2024 | Neutral | -1.0% | Preliminary Q4 and 2024 figures with slight QoQ growth but YoY revenue decline. |
| Aug 09 | Q2 2024 earnings | Negative | -11.1% | Revenue modestly higher QoQ but sharp YoY and profit declines across metrics. |
Earnings-related releases often saw modest negative or mixed reactions, even when revenue growth was reported.
Over the past few earnings and annual-report cycles, Gravity has reported a mix of revenue growth and profit pressure. Q2 and Q1 2025 showed solid top-line expansion but softer margins, while the 2024 Form 20-F highlighted notable year-over-year declines. Preliminary Q4 2024 results already signaled revenue contraction versus the prior year. Against this backdrop, the new Q4 2025 preliminary figures, with lower revenue and operating profit, extend the theme of volatility in quarterly performance despite an expanding game pipeline.
Historical Comparison
Past earnings and annual-report headlines moved the stock by an average of -1.4%, often showing muted to negative reactions even when revenue grew.
Earnings releases since 2024 show a pattern of revenue growth in some quarters alongside pressured profitability and prior-year declines, with an expanding Ragnarok-focused pipeline providing ongoing catalysts.
Market Pulse Summary
This announcement details preliminary Q4 2025 results showing lower revenue and operating profit, alongside full-year revenue of KRW 560 billion and a strong cash balance of KRW 618,633 million. It also highlights a dense pipeline of Ragnarok and other titles scheduled through 2026. Investors may focus on how audited results compare with these preliminary figures and how effectively new launches offset softness in existing games like Ragnarok M: Classic.
Key Terms
mmorpg technical
blockchain technical
form 20-f regulatory
AI-generated analysis. Not financial advice.
Seoul, South Korea, Feb. 13, 2026 (GLOBE NEWSWIRE) -- GRAVITY Co., Ltd. (NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and publisher of online and mobile games based in South Korea, today announced its unaudited financial results for the fourth quarter ended December 31, 2025, prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board and business updates.
PRELIMINARY UNAUDITED FOURTH QUARTER 2025 FINANCIAL RESULTS
Tentative consolidated revenue for the fourth quarter of 2025 is KRW 113 billion, and tentative consolidated operating profit is KRW 12 billion.
The preliminary fourth quarter of 2025 result is mainly attributed by decreased revenues from Ragnarok M: Classic launched in Southeast Asia on February 14, 2025 and in Taiwan, Hong Kong and Macau on April 16, 2025. Tentative consolidated revenue for the fourth quarter of 2025 represented an
Unaudited preliminary consolidated revenue for 2025 is KRW 560 billion, and the operating profit is KRW 77 billion.
The preliminary 2025 figures are unaudited and subject to revision. Final result for the fourth quarter and year ended December 31, 2025 will be provided by our annual report for the fiscal year ended December 31, 2025 on Form 20-F.
Liquidity
The balance of cash and cash equivalents and short-term financial instruments was KRW 618,633 million as of December 31, 2025.
GRAVITY BUSINESS UPDATES
Ragnarok Online IP-based Games
- Ragnarok Online 3, an MMORPG Mobile and PC game
Ragnarok Online 3 is planned to be launched in China in the fourth quarter of 2026 and is underway for its launch in Global within 2027.
- Ragnarok Monster Kitchen, a Hybrid Casual Mobile game
Ragnarok Monster Kitchen was officially launched in Global on December 11, 2025.
- Ragnarok: Rebirth, a 3D MMORPG Mobile game
Ragnarok: Rebirth was officially launched in China on December 25, 2025.
- Ragnarok X: Next Generation, an MMORPG Mobile and PC game
Ragnarok X: Next Generation was officially launched in Europe (France, Italy, Germany), Middle East, Egypt and Algeria on January 14, 2026.
- Ragnarok: Twilight, an MMORPG Mobile game
Ragnarok: Twilight (Vietnamese Title: Ragnarok: Twilight - Chạng Vạng) was officially launched in Vietnam on February 10, 2026, and is underway for its launch in America, Europe, Middle East and Korea within 2026. Huawei AppGallery (H5) version is planned to be launched in Southeast Asia (except Vietnam) in March 2026.
- Ragnarok: The New World, an MMORPG Mobile and PC game
Ragnarok: The New World was officially launched in Taiwan, Hong Kong and Macau on January 15, 2026. The game ranked first in both free downloads and top-grossing on Apple App Store, and also ranked first in free downloads and within the top five in top-grossing on Google Play across all three regions. Ragnarok: The New World is scheduled to be launched in Southeast Asia (except Vietnam) and Global (except China, Taiwan, Hong Kong, Macau, Japan, Korea and CIS) in the second half of 2026.
- Ragnarok Origin Classic, an MMORPG Mobile and PC game
Ragnarok Origin Classic, a renewal game of Ragnarok Origin, is scheduled to be launched in Southeast Asia (except Vietnam), Taiwan, Hong Kong, Macau and Korea in the first half of 2026.
- Ragnarok M: Classic, an MMORPG Mobile and PC game
Ragnarok M: Classic is underway for its launch in Korea in the second half of 2026.
- Ragnarok Abyss, an MMOARPG Mobile and PC game
Ragnarok Abyss is planned to be launched in Taiwan, Hong Kong and Macau in the second half of 2026.
- Ragnarok Endless Trails, a Casual, Roguelike, Survivor and Battle Royale Mobile game
Ragnarok Endless Trails will be launched in Southeast Asia on February 26, 2026.
- Ragnarok: Midgard Senki, a 2D MMORPG Mobile game
Ragnarok: Midgard Senki is currently under development and the launch date and target market will be announced.
- Ragnarok Zero: Global, an MMORPG PC game
Ragnarok Zero: Global is scheduled to be launched in Southeast Asia, Europe and Oceania in the second half of 2026.
Ragnarok Online IP-based Blockchain Game
- Ragnarok Online Landverse, an MMORPG Blockchain and PC game
Ragnarok Online Landverse was officially launched in America on December 19, 2025.
Other IP-based Games
- the Game of LIFE for Nintendo Switch, a Board and Party Console game
the Game of LIFE for Nintendo Switch was officially launched in Asia (except Japan) on December 18, 2025.
- Little Gods of the Abyss, a Puzzle Platformer Console and PC game
Little Gods of the Abyss was officially launched in Global on January 22, 2026.
- ACADEMY OF HEROES: THREE KINGDOMS, a Turn-based Collective RPG Mobile game
ACADEMY OF HEROES: THREE KINGDOMS was officially launched in Southeast Asia on January 20, 2026.
- Requiem M, an MMORPG Mobile game
Requiem M will be launched in Korea in the first half of 2026.
- Wizmans World Re: Try, a JRPG Remaster Console and PC game
Wizmans World Re: Try will be launched in Global (except Japan) on February 19, 2026.
- Jaleco Arcade Collection, a Retro Console and PC game
Jaleco Arcade Collection is planned to be launched in Global in the second half of 2026.
- LIGHT ODYSSEY, a Boss Rush Action and Souls-like Console and PC game
LIGHT ODYSSEY will be launched in Global in the second half of 2026.
- Final Knight, an Action RPG Console and PC game
Final Knight is scheduled to be launched in Global in the second half of 2026.
- Hashire HEBEREKE: EX, a Racing and Remake Console and PC game
Hashire HEBEREKE: EX is underway for its launch in Global in the second half of 2026.
- GALVATEIN: Adventure's Guild, a Simulation Console and PC game
GALVATEIN: Adventure's Guild will be launched in Global in the second half of 2026.
Investor Presentation
Gravity issued an investor presentation. The presentation contains the Company’s recent business updates, results of the fourth quarter in 2025 and Gravity’s business plan. The presentation can be found on the Company’s website under the IR Archives section at https://www.gravity.co.kr/en/ir/updates. Korean and Japanese versions of the presentation are also provided on the website.
About GRAVITY Co., Ltd. ---------------------------------------------------
Gravity is a developer and publisher of online and mobile games. Gravity's principal product, Ragnarok Online, is a popular online game in many regions, including Japan and Taiwan, and is currently commercially offered in 91 regions. For more information about Gravity, please visit http://www.gravity.co.kr.
Forward-Looking Statements:
Certain statements in this press release may include, in addition to historical information, “forward-looking statements” within the meaning of the “safe-harbor” provisions of the U.S. Private Securities Litigation Reform Act 1995. Forward-looking statements can generally be identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe”, “project,” or “continue” or the negative thereof or other similar words, although not all forward-looking statements contain these words. Investors should consider the information contained in our submissions and filings with the United States Securities and Exchange Commission (the “SEC”), including our annual report for the fiscal year ended December 31, 2025 on Form 20-F, together with such other documents that we may submit to or file with the SEC from time to time, on Form 6-K. The forward-looking statements speak only as of this press release and we assume no duty to update them to reflect new, changing or unanticipated events or circumstances.
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 were Gravity's preliminary Q4 2025 revenue and operating profit (GRVY)?
What is Gravity's tentative full-year 2025 revenue and profit (GRVY)?
How much cash did Gravity hold at year-end 2025 (GRVY)?
Which recent Gravity games had notable launches or rankings in 2025–2026 (GRVY)?
Why did Gravity report lower Q4 2025 revenue (GRVY)?
Are Gravity's Q4 and FY2025 results final for investors (GRVY)?
