Gravity Stock Price, News & Analysis

Seoul, Korea – July 27, 2022 – GRAVITY Co., Ltd. (NasdaqGM: GRVY) has entered a partnership with The Sandbox, a metaverse gaming platform. The collaboration involves creating Ragnarok LAND within The Sandbox, featuring various content and NFT items based on the popular Ragnarok IP. Additionally, Gravity will host a Game Jam contest, encouraging users to develop their own games using Ragnarok-themed digital assets. This partnership leverages the strong brand recognition of Ragnarok, providing users with diverse content and gaming experiences.

GRAVITY Co. Ltd. (NasdaqGM: GRVY) announced the upcoming launch of Ragnarok X: Next Generation in Korea in the second half of 2022. Following successful launches in Taiwan, Hong Kong, and Macau, where it topped gross revenue on Apple App Store and Google Play, the game also achieved significant success in Thailand, Indonesia, and the Philippines. This anticipated release in Korea is expected to raise user expectations and further leverage the popularity of the Ragnarok brand.

Gravity Co., Ltd. (NasdaqGM: GRVY) has officially launched Ragnarok V: Returns on May 25, 2022, in Oceania. This Multi-Platform MMORPG is developed by Gravity NeoCyon and is a sequel to the successful Ragnarok Online: Valkyrie Uprising, which boasts over 5 million global users. The game features advanced graphics and customizable gameplay experiences. Available on Google Play, the Apple App Store, and PC, Gravity is also holding various events to celebrate this release.

Gravity Co., Ltd. (NASDAQ: GRVY) has officially launched Ragnarok V: Returns in the Oceanic region at 12:00 p.m. on May 25th. This multi-platform 3D MMORPG allows users to experience fast character growth through various launch events planned for one month.

The game, a sequel to Ragnarok: Valkyrie Uprising, has already attracted over five million global players and supports cross-play on iOS, Android, and PC. Positive feedback from beta testing highlights improved gameplay balance and nostalgia.

GRAVITY Co., Ltd. (NasdaqGM: GRVY) reported its first-quarter financial results for 2022, showing total revenues of KRW 88,607 million (US$ 73,135 thousand), an 8.3% decrease QoQ and 15.7% YoY. Operating profit increased to KRW 22,316 million (US$ 18,419 thousand), up 138.2% QoQ yet down 20.2% YoY. Net profit attributable to the parent company reached KRW 16,431 million (US$ 13,562 thousand), marking an impressive 1,198.9% increase QoQ but a decrease of 30.3% YoY. The company also detailed upcoming game launches and updates related to the Ragnarok franchise.

GRAVITY Co., Ltd. (GRVY) filed its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC on April 28, 2022. The report reveals consolidated revenue of KRW 413,938 million, an operating profit of KRW 96,719 million, and a net profit of KRW 65,947 million. This reflects a year-over-year revenue growth of 2.0%, an operating profit increase of 9.5%, and a net profit rise of 5.2% compared to 2020. Shareholders can request a hard copy of the report free of charge.

GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced that its game Ragnarok Labyrinth NFT surpassed 1 million downloads in Southeast Asia on the first day of its re-opening on April 27, 2022. This innovative title, developed in partnership with ONBUFF Inc., utilizes a Play-to-Earn (P2E) system and NFT elements. The game achieved notable rankings, placing second in Apple App Store's top grossing in Thailand and third in the Philippines, while also securing the top spot for new free games on Google Play in the Philippines. The event showcases the strong popularity of the Ragnarok IP in the region.

PSY, the iconic singer known for 'Gangnam Style', has returned as the ambassador for Gravity's mobile game, Ragnarok Origin. He has starred in commercials and unveiled plans to release a new song, his first in five years. To celebrate, Gravity will host community events and rewards. Recently, Ragnarok Origin launched a significant update that includes a new class, increased level cap to lvl90, new dungeons, and various events aimed at enhancing player engagement.

Gravity Co., Ltd. (NasdaqGM: GRVY) announced the re-opening of Ragnarok Labyrinth NFT on April 27, 2022, following improvements after initial login delays. The game, integrating a play-to-earn system, was launched in Southeast Asia on April 13 with over 1.1 million pre-registered accounts. To address user access issues, Gravity Game Link increased server capacity. The re-launch will offer pre-registration rewards and additional in-game items to attract users back after the upgrade.