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Gravity (GRVY) investor relations material
Gravity Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for Q2 2025 reached KRW 171 billion, up 24.2% QoQ and 38.9% YoY, driven by strong performance of Ragnarok M: Classic, Ragnarok X: Next Generation, and new regional launches.
Operating profit was KRW 20 billion, down 20.5% QoQ but up 31.2% YoY, impacted by increased marketing expenses for global expansion.
Net profit attributable to owners was KRW 13.2 billion, down 39.9% QoQ but up 5.4% YoY.
Major launches included Ragnarok Online America Latina and Ragnarok X: Next Generation in new regions.
Multiple new game launches and regional events supported brand momentum and user engagement.
Financial highlights
Gross profit for Q2 2025 was KRW 56.7 billion, with cost of revenues at KRW 114 billion.
Cash and cash equivalents stood at KRW 576.8 billion at quarter-end.
Total assets increased to KRW 722.5 billion, with equity at KRW 596.4 billion.
Operating expenses rose 46.6% QoQ and 15.9% YoY, driven by higher advertising for new titles.
Cost of revenue increased 30.4% QoQ and 50.0% YoY, mainly due to commissions for new mobile game launches.
Outlook and guidance
Major upcoming launches include Ragnarok M: Classic in the Americas, Europe, Middle East, and Africa in September 2025, and several new titles in 4Q 2025.
Expansion into blockchain gaming and new regions expected in the second half of 2025.
Continued focus on expanding Ragnarok IP globally, with launches planned in China, Southeast Asia, and other key markets.
Strategic emphasis on multi-title, IP-driven growth and entry into Western markets.
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