Gravity Stock Price, News & Analysis

Gravity (NASDAQ: GRVY) has launched ALTF42, a 3D platformer sequel to the popular ALTF4, as an Early Access version on Steam starting March 31, 2023. The game is known for its high difficulty and involves navigating various traps. While currently supporting only Korean and English, additional languages and features will be added through updates during the Early Access period. ALTF4 previously garnered significant popularity, reflected in its review ratings and Twitch viewership. Gravity aims to leverage its publishing expertise to enhance the game's global reach.

Seoul, Korea – March 28, 2023 – GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced the launch of Ragnarok Origin in Southeast Asia on April 6, 2023. This mobile game has surpassed three million pre-registrations, marking the fastest growth for a Ragnarok IP title. The game features upgraded graphics and retains key elements from the original Ragnarok IP, appealing to users across various regions, including Korea and North America. The Closed Beta Test (CBT) from March 2 to 22 was fully subscribed, demonstrating strong interest. Publishing in Southeast Asia will be handled by GRAVITY GAME HUB, with promotional events planned post-launch.

Gravity announced the winner of the Dream Giveaway event, with Alen from San Diego winning a 2022 Tesla Model S valued at approximately $100,000. The giveaway was part of a promotional strategy for Ragnarok Origin, which continues to thrive with significant updates.

New content includes the introduction of Rogue and Stalker classes, along with a 20-floor PVE dungeon, the Fantasy Land of Memories. Players can log in for a chance to win additional in-game rewards during the ongoing After Party Event until April 25.

GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced its preliminary unaudited financial results for Q4 2022, reporting a revenue of KRW 176 billion, a 71.9% increase QoQ and 82.2% YoY, driven by strong performance from Ragnarok Origin in Taiwan, Hong Kong, and Macau. The operating profit for Q4 stood at KRW 39 billion. For the full year 2022, total revenue reached KRW 464 billion, with an operating profit of KRW 105 billion. Cash and short-term financial instruments totaled KRW 337 billion as of December 31, 2022. Significant business updates include the successful launch of multiple Ragnarok games and a global publishing agreement with SKYWALK.

GRAVITY Co., Ltd. (NasdaqGM: GRVY) has launched Ragnarok X: Next Generation, an MMORPG mobile game, in Korea as of January 5, 2023. This game is the third installment of the Ragnarok 20th Anniversary Trilogy, featuring a unique story, vibrant 3D graphics, and various gameplay options. The game secured over 1 million pre-registrations and previously achieved top-grossing rankings on app stores in various regions. It has also received positive reviews during its Closed Beta Test, showcasing its potential in the mobile gaming market.

GRAVITY Co., Ltd. (NasdaqGM: GRVY) reported third-quarter 2022 financials with total revenues at KRW 102,377 million (US$ 71,509 thousand), marking a 6.1% increase QoQ but a 20.4% decrease YoY. Operating profit was KRW 21,271 million (US$ 14,857 thousand), down 3.8% QoQ and 47.1% YoY. Net profit attributable to the parent company decreased by 8.0% QoQ and 39.0% YoY, amounting to KRW 16,076 million (US$ 11,229 thousand). The company also launched several games, including Ragnarok Origin in September 2022, amidst a broader strategy to enhance its online game portfolio.

Gravity announced the Closed Beta launch of its game 'Ragnarok Begins' in North America from October 14 to 18. This marks the first side-scrolling MMORPG under the Ragnarok IP, available on both PC and mobile platforms. The beta aims to deliver unique gameplay experiences with non-targeting battles and side-scrolling mechanics. Users can participate in events with prizes, including E-gift cards worth up to $500. Gravity, listed on NASDAQ, boasts over 120 million global accounts for its flagship IP.

On September 27, 2022, GRAVITY Co., Ltd. (NasdaqGM: GRVY) announced the launch of Ragnarok Arena in South Korea. This tactical SRPG enables players to collect monsters and customize their characters, offering unique gameplay elements like real-time siege warfare. Following its success in Taiwan, Hong Kong, and Macau, where it topped free-download rankings, Ragnarok Arena continues to gain popularity, having recently launched in Thailand, achieving high rankings in both the Apple App Store and Google Play Store.