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Ragnarok titles lift Gravity (GRVY) Q1 2026 earnings and margins

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Gravity Co., Ltd. reported strong unaudited results for the first quarter ended March 31, 2026. Total revenue reached KRW 161,878 million (US$ 106,254 thousand), up 42.7% quarter-on-quarter and 17.8% year-on-year, driven mainly by its Ragnarok online and mobile game portfolio.

Operating profit was KRW 30,830 million (US$ 20,236 thousand), increasing 163.1% QoQ and 24.7% YoY, while profit before income tax rose to KRW 38,325 million (US$ 25,155 thousand). Net profit attributable to the parent company was KRW 29,394 million (US$ 19,294 thousand), up 138.7% QoQ and 33.4% YoY.

Growth was supported by new launches such as Ragnarok: The New World, Ragnarok Origin Classic, and stronger performance from Ragnarok Online and Ragnarok X: Next Generation, while lower advertising and R&D expenses helped reduce operating costs. Cash and cash equivalents plus short-term financial instruments totaled KRW 611,615 million (US$ 401,454 thousand) as of March 31, 2026.

Positive

  • Strong top-line and bottom-line growth: Q1 2026 revenue rose 42.7% QoQ and 17.8% YoY to KRW 161,878 million, while net profit attributable to the parent increased 138.7% QoQ and 33.4% YoY to KRW 29,394 million.
  • Improving profitability and cost discipline: Operating profit jumped 163.1% QoQ to KRW 30,830 million as selling, general and administrative plus R&D expenses declined 24.2% QoQ and 17.6% YoY.
  • Solid liquidity position: Cash and cash equivalents and short-term financial instruments totaled KRW 611,615 million (US$ 401,454 thousand) as of March 31, 2026, providing a sizeable financial cushion.

Negative

  • None.

Insights

Gravity delivers strong Q1 2026 growth on Ragnarok mobile strength and tight cost control.

Gravity posted Q1 2026 revenue of KRW 161,878 million, up 42.7% QoQ and 17.8% YoY. The main engine was mobile games at KRW 132,800 million, supported by launches of Ragnarok: The New World and Ragnarok Origin Classic and solid performance from Ragnarok X: Next Generation.

Profitability improved meaningfully. Operating profit rose to KRW 30,830 million, a QoQ increase of 163.1%, helped by scale leverage and lower advertising and R&D spending. Net profit attributable to the parent reached KRW 29,394 million, up 33.4% YoY.

Liquidity remains robust, with cash and cash equivalents plus short-term financial instruments of KRW 611,615 million as of March 31, 2026. Future disclosures in company filings may clarify the sustainability of revenue from newly launched titles and any shifts in marketing investment.

Total revenue KRW 161,878 million (US$ 106,254 thousand) Q1 2026; up 42.7% QoQ and 17.8% YoY
Operating profit KRW 30,830 million (US$ 20,236 thousand) Q1 2026; up 163.1% QoQ and 24.7% YoY
Net profit attributable to parent KRW 29,394 million (US$ 19,294 thousand) Q1 2026; up 138.7% QoQ and 33.4% YoY
Mobile game revenue KRW 132,800 million (US$ 87,168 thousand) Q1 2026; up 54.1% QoQ and 15.0% YoY
Online game revenue KRW 25,906 million (US$ 17,004 thousand) Q1 2026; up 9.8% QoQ and 37.8% YoY
Cost of revenue KRW 110,224 million (US$ 72,349 thousand) Q1 2026; up 48.4% QoQ and 26.0% YoY
Operating expenses KRW 20,824 million (US$ 13,669 thousand) Q1 2026; down 24.2% QoQ and 17.6% YoY
Cash & short-term instruments KRW 611,615 million (US$ 401,454 thousand) Balance as of March 31, 2026
International Financial Reporting Standards financial
"prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board"
International Financial Reporting Standards are a common set of accounting rules used by companies in many countries to prepare and present their financial statements. They matter to investors because they make results easier to compare across borders — like using the same measuring tape — so investors can assess profitability, cash flow and risk more reliably and spot differences that come from business performance rather than differing accounting methods.
operating profit financial
"Operating profit was KRW 30,830 million (US$ 20,236 thousand), representing a 163.1% increase"
Operating profit is the amount of money a company makes from its core business activities after subtracting the costs directly related to running those activities, such as wages and supplies. It shows how efficiently a company is generating profit from its main operations, serving as a key indicator for investors to assess its financial health and profitability before considering other expenses like taxes or interest.
deferred revenue financial
"Deferred revenue | | 21,501 | | | | | 14,113 | | | | | 20,864"
Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.
non-controlling interest financial
"Non-controlling interest | | 508 | | | | | 333 | | | | | 526"
Non-controlling interest represents the portion of ownership in a company held by investors who do not have a controlling stake, meaning they do not have enough voting power to make major decisions. It is similar to owning a minority share of a business partner’s company—while they benefit from profits, they cannot control how the company is run. This matters to investors because it shows how much of the company's value is owned by outside shareholders and affects overall financial reporting.
earnings per share financial
"Earning per share | | | | | | | | | | | | | | - Basic and diluted"
Earnings per share represent the amount of profit a company makes for each share of its stock, similar to how a pie’s total size can be divided into slices for each person. It helps investors understand how profitable the company is on a per-share basis, making it easier to compare its performance over time or against other companies. Higher earnings per share generally indicate better profitability and can influence a company's stock value.
Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026
Commission File Number 000-51138

GRAVITY Co., Ltd.
———————————————————————————————————————
(Translation of registrant’s name into English)

15F, 396 World Cup buk-ro, Mapo-gu, Seoul 03925, Korea
———————————————————————————————————————
(Address of principal executive office)


Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F þ Form 40-F o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o



GRAVITY REPORTS FIRST QUARTER OF 2026 RESULTS AND BUSINESS UPDATES

Seoul, South Korea – May 8, 2026 – 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 first quarter ended March 31, 2026, prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board and business updates.
FIRST QUARTER 2026 HIGHLIGHTS

•Total revenues were KRW 161,878 million (US$ 106,254 thousand), representing a 42.7% increase from the fourth quarter ended December 31, 2025 (“QoQ”) and a 17.8% increase from the first quarter ended March 31, 2025 (“YoY”).

•Operating profit was KRW 30,830 million (US$ 20,236 thousand), representing a 163.1% increase QoQ and a 24.7% increase YoY.

•Profit before income tax expenses was KRW 38,325 million (US$ 25,155 thousand), representing a 131.2% increase QoQ and a 34.7% increase YoY.

•Net profit attributable to parent company was KRW 29,394 million (US$ 19,294 thousand), representing a 138.7% increase QoQ and a 33.4% increase YoY.


REVIEW OF FIRST QUARTER 2026 FINANCIAL RESULTS

Revenues

Online game revenues for the first quarter of 2026 were KRW 25,906 million (US$ 17,004 thousand), representing a 9.8% increase QoQ from KRW 23,594 million and a 37.8% increase YoY from KRW 18,806 million. The increase QoQ was mainly attributable to increased revenue from Ragnarok Online in Japan. The increase YoY was largely due to increased revenue Ragnarok Online in Thailand and initial revenues from Ragnarok Online America Latina launched in Latin America on May 28, 2025.

Mobile game revenues were KRW 132,800 million (US$ 87,168 thousand) for the first quarter of 2026, representing a 54.1% increase QoQ from KRW 86,175 million and a 15.0% increase YoY from KRW 115,486 million. The increase QoQ attributed to initial revenues from Ragnarok: The New World launched in Taiwan, Hong Kong and Macau on January 15, 2026, increased revenues from Ragnarok X: Next Generation in Global and initial revenues from Ragnarok Origin Classic launched in Southeast Asia (except Vietnam), Taiwan, Hong Kong, Macau and Korea on March 26, 2026. Such increase was partially offset by decreased revenues from Ragnarok: Twilight in Southeast Asia and Ragnarok M: Classic in Taiwan, Hong Kong, Macau and Global. The increase YoY was largely due to initial revenue from Ragnarok: The New World launched in Taiwan, Hong Kong and Macau on January 15, 2026 and increased revenue from Ragnarok X: Next Generation in Global. Such increase was partially offset by decreased revenues from Ragnarok M: Classic in Southeast Asia, Ragnarok: Rebirth in Taiwan, Hong Kong and Macau and Ragnarok Origin in Southeast Asia.

Other revenues were KRW 3,172 million (US$ 2,082 thousand) for the first quarter of 2026, representing a 13.8% decrease QoQ from KRW 3,681 million and remaining flat YoY from KRW 3,172 million.




Cost of Revenue

Cost of revenue was KRW 110,224 million (US$ 72,349 thousand) for the first quarter of 2026, representing a 48.4% increase QoQ from KRW 74,262 million and a 26.0% increase YoY from KRW 87,458 million. The increase QoQ was mainly due to initial commission paid for mobile game service related to Ragnarok: The New World in Taiwan, Hong Kong and Macau. The increase YoY was primarily due to initial commission paid for mobile game service related to Ragnarok: The New World in Taiwan, Hong Kong and Macau and increased commissions paid for mobile game services related to Ragnarok X: Next Generation in Global and Ragnarok: Twilight in Southeast Asia.

Operating Expenses

Operating expenses were KRW 20,824 million (US$ 13,669 thousand) for the first quarter of 2026, representing a 24.2% decrease QoQ from KRW 27,468 million and a 17.6% decrease YoY from KRW 25,276 million. The decrease QoQ was mainly due to decreased advertising expenses for Ragnarok Online in Thailand, Nobunaga's Ambition: The Road to the World in Japan and Ragnarok Abyss in Southeast Asia, and impairment losses on other non-current assets. The decrease YoY was mainly due to decreased advertising expenses for Ragnarok Idle Adventure Plus in Global, Ragnarok Begins in Taiwan, Hong Kong and Macau and Ragnarok V: Returns in Thailand, Indonesia and Philippines, and research and development expenses.

Profit Before Income Tax Expense

Profit before income tax expense was KRW 38,325 million (US$ 25,155 thousand) for the first quarter of 2026 compared with profit before income tax expense of KRW 16,576 million for the fourth quarter of 2025 and profit before income tax expense of KRW 28,450 million for the first quarter of 2025.

Net Profit

As a result of the foregoing factors, Gravity recorded a net profit attributable to parent company of KRW 29,394 million (US$ 19,294 thousand) for the first quarter of 2026 compared with net profit attributable to parent company of KRW 12,312 million for the fourth quarter of 2025 and a net profit attributable to parent company of KRW 22,038 million for the first quarter of 2025.

Liquidity

The balance of cash and cash equivalents and short-term financial instruments was KRW 611,615 million (US$ 401,454 thousand) as of March 31, 2026.

Note: For convenience purposes only, the KRW amounts have been expressed in U.S. dollars at the exchange rate of KRW 1,523.50 to US$ 1.00, the noon buying rate in effect on March 31, 2026 as quoted by the Federal Reserve Bank of New York.






GRAVITY BUSINESS UPDATES

Ragnarok Online IP-based Games

•Ragnarok Online 3, an MMORPG Mobile and PC game

Ragnarok Online 3 plans to be launched in China in the first quarter of 2027 and is underway for its launch in Global within 2027.

•Ragnarok M: Classic, an MMORPG Mobile and PC game

Ragnarok M: Classic will be launched in Korea in July 2026.

•Ragnarok: The New World, an MMORPG Mobile and PC game

Ragnarok: The New World will be launched in Southeast Asia (except Vietnam) in July 2026, and Global (except Southeast Asia, China, Taiwan, Hong Kong, Macau, Korea and CIS) in the fourth quarter of 2026.

•Ragnarok Origin Classic, an MMORPG Mobile and PC game

Ragnarok Origin Classic, a renewal game of Ragnarok Origin, was officially launched in Korea, Taiwan, Hong Kong, Macau and Southeast Asia (except Vietnam) on March 26, 2026 and will be launched in North, Central and South America in the third quarter of 2026.

•Ragnarok Abyss, an MMOARPG Mobile and PC game

Ragnarok Abyss will be launched in Taiwan, Hong Kong, Macau and China in the second half of 2026 and is underway for its launch in Southeast Asia and Korea.

•Ragnarok: Midgard Senki, a 2D MMORPG Mobile game

Ragnarok: Midgard Senki will be launched in Taiwan, Hong Kong and Macau in the second half of 2026 and is underway for its launch in Southeast Asia.

•Ragnarok: Twilight, an MMORPG Mobile game

Ragnarok: Twilight was officially launched on Huawei AppGallery (H5) in Southeast Asia (except Vietnam) on March 27, 2026. Ragnarok: Twilight Global will be launched in Global (except China, Taiwan, Hong Kong, Macau, Southeast Asia, Vietnam, Korea and Japan) in the second quarter of 2026.

•Ragnarok: Back to Glory, a 3D MMORPG Mobile game

Ragnarok: Back to Glory will be launched in Global (except China, Japan, Korea, Southeast Asia, Taiwan, Hong Kong, Macau, Brazil and CIS) in the second half of 2026.

•Ragnarok Zero: Global, an MMORPG PC game

Ragnarok Zero: Global will be launched in Southeast Asia, Europe and Oceania in the third quarter of 2026.





Other IP-based Games

•Wizmans World Re: Try, a JRPG Remaster Console and PC game

Wizmans World Re: Try was officially launched in Global on February 19, 2026.

•Requiem M, an MMORPG Mobile game

Requiem M will be launched in Korea in the second quarter of 2026.

•Jaleco Arcade Collection, a Retro Console and PC game

Jaleco Arcade Collection will be launched in Global in the second half of 2026.

•LIGHT ODYSSEY, a Boss Rush Action and Soul-like Console and PC game

LIGHT ODYSSEY will be launched in Global in the second half of 2026.

•Hashire HEBEREKE: EX, a Racing and Remake Console and PC game

Hashire HEBEREKE: EX will be launched 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.

•Final Knight, an Action RPG Console and PC game

Final Knight will be launched in Global in the first half of 2027.


Expansion of Ragnarok IP-business

RAGNAROK OST albums were released in sequence between March 20, 2026 and April 3, 2026, featuring 213 tracks, including the iconic theme songs of Ragnarok Online. The soundtrack is available on over 30 global streaming platforms.





Investor Presentation

Gravity issued an investor presentation. The presentation contains the Company’s recent business updates, results of the first quarter in 2026 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 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.
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. Jimin Park
IR Unit
Gravity Co., Ltd.
Email: ir@gravity.co.kr
Telephone: +82-2-2132-7800







GRAVITY Co., Ltd.
Consolidated Statements of Financial Position

(In millions of KRW and thousands of US$)

As of
31-Dec-25
31-Mar-26
KRW
US$
KRW
US$
(audited)
(unaudited)
(unaudited)
(unaudited)
Assets
Current assets:
Cash and cash equivalents
203,599 
133,639 
209,873 
137,757 
Short-term financial instruments
415,034 
272,421 
401,742 
263,697 
Accounts receivable, net
56,318 
36,966 
83,935 
55,094 
Other receivables, net
2,904 
1,906 
3,174 
2,083 
Prepaid expenses
13,766 
9,036 
21,315 
13,991 
Other current financial assets
4,333 
2,844 
4,894 
3,212 
Other current assets
2,559 
1,680 
2,252 
1,478 
Total current assets
698,513 
458,492 
727,185 
477,312 
Property and equipment, net
10,770 
7,069 
10,122 
6,644 
Intangible assets, net
7,157 
4,698 
6,387 
4,192 
Deferred tax assets
7,209 
4,732 
6,811 
4,471 
Other non-current financial assets
3,812 
2,502 
4,290 
2,816 
Other non-current assets
15,201 
9,978 
38,026 
24,960 
Total assets
742,662 
487,471 
792,821 
520,395 
Liabilities and Equity
Current liabilities:
Accounts payable
61,927 
40,648 
72,596 
47,651 
Deferred revenue
21,501 
14,113 
20,864 
13,695 
Withholdings
1,655 
1,086 
2,044 
1,342 
Accrued expense
2,597 
1,705 
2,054 
1,348 
Income tax payable
4,633 
3,041 
9,425 
6,186 
Other current liabilities
3,718 
2,440 
3,881 
2,547 
Total current liabilities
96,031 
63,033 
110,864 
72,769 
Long-term account payables
623 
409 
623 
409 
Long-term deferred revenue
410 
269 
781 
513 
Deferred tax liabilities
1,736 
1,140 
1,737 
1,140 
Other non-current liabilities
6,496 
4,264 
5,811 
3,814 
Total liabilities
105,296 
69,115 
119,816 
78,645 
Share capital
3,474 
2,280 
3,474 
2,280 
Capital surplus
26,979 
17,709 
26,979 
17,709 
Other components of equity
25,523 
16,753 
31,750 
20,841 
Retained earnings
580,882 
381,281 
610,276 
400,575 
Equity attributable to owners of the Parent Company
636,858 
418,023 
672,479 
441,405 
Non-controlling interest
508 
333 
526 
345 
Total equity
637,366 
418,356 
673,005 
441,750 
Total liabilities and equity
742,662 
487,471 
792,821 
520,395 

* For convenience purposes only, the KRW amounts are expressed in U.S. dollars at the rate of KRW 1,523.50 to US$ 1.00, the noon buying rate in effect on March 31, 2026 as quoted by the Federal Reserve Bank of New York.




GRAVITY Co., Ltd.
Consolidated Statements of Comprehensive Income

(In millions of KRW and thousands of US$ except for share and ADS data)

Three months ended
31-Dec-25
31-Mar-25
31-Mar-26
(KRW)
(US$)
(KRW)
(US$)
(KRW)
(US$)
(unaudited)
(unaudited)
(unaudited)
(unaudited)
(unaudited)
(unaudited)
Revenues:
Online games
23,594
15,487
18,806 
12,344
25,906 
17,004
Mobile games
86,175
56,564
115,486 
75,803
132,800 
87,168
Other revenue
3,681
2,416
3,172 
2,082
3,172 
2,082
Total net revenue
113,450
74,467
137,464 
90,229
161,878 
106,254
Cost of revenue
74,262
48,744
87,458 
57,406
110,224 
72,349
Gross profit
39,188
25,723
50,006 
32,823
51,654 
33,905
Operating expenses:
Selling, general and administrative expenses
24,881
16,331
21,859 
14,348
19,609 
12,871
Research and development
1,455
955
3,431 
2,252
1,133 
744
Others, net
1,132 
743 
(14)
(9)
82 
54 
Total operating expenses
27,468
18,029
25,276 
16,591
20,824 
13,669
Operating profit
11,720
7,694
24,730 
16,232
30,830 
20,236
Finance income(costs):
Finance income
7,948 
5,217 
10,717 
7,034
9,871 
6,479
Finance costs
(3,092)
(2,030)
(6,997)
(4,593)
(2,376)
(1,560)
Profit before income tax
16,576
10,881
28,450 
18,673
38,325 
25,155
Income tax expense
4,409
2,894
6,372 
4,182
8,934 
5,863
Profit for the year
12,167
7,987
22,078 
14,491
29,391 
19,292
Profit attributable to:
Non-controlling interest
(145)
(95)
40 
26 
(3)
(2)
Owners of Parent company
12,312
8,082
22,038 
14,465
29,394 
19,294
Earning per share
- Basic and diluted
1,772 
1.16 
3,171 
2.08
4,230 
2.78
Weighted average number of shares outstanding
- Basic and diluted
6,948,900 
6,948,900
6,948,900 
6,948,900
6,948,900 
6,948,900
Earning per ADS
- Basic and diluted
1,772 
1.16 
3,171 
2.08
4,230 
2.78

* For convenience, the KRW amounts are expressed in U.S. dollars at the rate of KRW 1,523.50 to US$1.00, the noon buying rate in effect on March 31, 2026 as quoted by the Federal Reserve Bank of New York.
(1) Each ADS represents one common share.





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


GRAVITY CO., LTD.
By:
/s/ Heung Gon Kim
Name:
Heung Gon Kim
Title:
Chief Financial Officer
Date: May 8, 2026



Source: View Original Filing on SEC EDGAR

FAQ

How did Gravity (GRVY) perform financially in Q1 2026?

Gravity reported strong Q1 2026 results with revenue of KRW 161,878 million, up 42.7% quarter-on-quarter and 17.8% year-on-year. Net profit attributable to the parent company reached KRW 29,394 million, reflecting 138.7% QoQ and 33.4% YoY growth under IFRS reporting.

What drove Gravity’s revenue growth in the first quarter of 2026?

Revenue growth was mainly driven by mobile games, which generated KRW 132,800 million. New titles like Ragnarok: The New World and Ragnarok Origin Classic, plus stronger performance from Ragnarok X: Next Generation, offset declines in older Ragnarok titles.

How profitable was Gravity in Q1 2026 compared to previous periods?

Gravity’s operating profit rose to KRW 30,830 million, up 163.1% quarter-on-quarter and 24.7% year-on-year. Net profit attributable to the parent company increased to KRW 29,394 million, improving 138.7% QoQ and 33.4% YoY, showing stronger profitability.

What was Gravity’s cash and liquidity position at March 31, 2026?

As of March 31, 2026, Gravity held KRW 611,615 million (US$ 401,454 thousand) in cash and cash equivalents plus short-term financial instruments. This sizeable balance indicates a strong liquidity position alongside growing revenues and profits from its online and mobile game portfolio.

How did Gravity’s operating expenses change in Q1 2026?

Operating expenses fell to KRW 20,824 million in Q1 2026, a 24.2% decrease quarter-on-quarter and 17.6% decrease year-on-year. The reduction was mainly due to lower advertising costs across several Ragnarok titles and reduced research and development spending.

Which Gravity segments grew the fastest in Q1 2026?

Mobile game revenues grew fastest, reaching KRW 132,800 million, up 54.1% quarter-on-quarter and 15.0% year-on-year. Online game revenue also increased to KRW 25,906 million, rising 9.8% QoQ and 37.8% YoY, reflecting broad strength across the Ragnarok franchise.