Mixed signals: revenue decline from mobile game weakness is a concern, but strong profit growth, robust cash balance ($419M), and new game launches (several in H2 2026) provide upside catalysts. The dividend announcement signals capital return commitment. Monitor mobile game revenue trajectory and adoption of new launches in coming quarters.
Price Chart
Executive Summary
GRAVITY Co., Ltd. (GRVY) reported Q2 2026 results on August 7, 2026, with total revenues of KRW 161,884M ($104.5M), flat QoQ but down 5.2% YoY. Operating profit rose 40.2% YoY to KRW 27,582M ($17.8M), while net profit attributable to parent surged 83.8% YoY to KRW 24,341M ($15.7M). The company also declared an interim cash dividend of KRW 4,400 per share, totaling KRW 30,575M ($19.7M), payable September 2, 2026.
Key Facts
- Q2 2026 total revenue KRW 161,884M ($104.5M), flat QoQ, -5.2% YoY
- Online game revenue +35.0% YoY to KRW 29,660M ($19.2M)
- Mobile game revenue -10.7% YoY to KRW 128,611M ($83.0M)
- Operating profit +40.2% YoY to KRW 27,582M ($17.8M)
- Net profit attributable to parent +83.8% YoY to KRW 24,341M ($15.7M)
- Interim cash dividend KRW 4,400/share, total KRW 30,575M ($19.7M), record date June 30, 2026, payable Sept 2, 2026
- Cash & equivalents + short-term financial instruments KRW 649,231M ($419.2M) as of June 30, 2026
- Multiple Ragnarok IP game launches in H2 2026; Ragnarok M Eternal Love 2 received Chinese ISBN
- Joint ventures established in Indonesia; plans for Thailand and two other countries
Financial Impact
Revenue declined 5.2% YoY, but net profit surged 83.8% YoY driven by lower costs and operating leverage. Dividend payout ~5.7% of market cap at ~$425M.
Risk Factors
- Continued decline in mobile game revenue from existing titles
- Execution risk of new Ragnarok game launches and JV expansion
- KRW/USD exchange rate exposure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (GRVY) — Batch item 1 | 0001628280-26-054551 |
| Document: 0001628280-26-054551-index-headers.html | 0001628280-26-054549 |
| Document: 0001628280-26-054551-index.html | 0001628280-26-054551 |
| Document: 0001628280-26-054551.txt | 0001628280-26-054551 |
| 6-K Filing (GRVY) — Batch item 5 | 0001628280-26-054549 |
| Document: 0001628280-26-054549-index-headers.html | 0001628280-26-054551 |
| Document: 0001628280-26-054549-index.html | 0001628280-26-054551 |
| Document: 0001628280-26-054549.txt | 0001628280-26-054551 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 7, 2026 11w ago | 6-K | $68.12 | awaiting T+60 | — | $66.64 (−2.17%) |
Aug 7, 2026 11w ago | Press Release | $68.12 | awaiting T+60 | — | $66.64 (−2.17%) |
Jun 18, 2026 18w ago | 6-K | $65.52 $72.26 | ▲ +10.29% | ▲ +8.39% | $66.64 (+1.71%) |
May 8, 2026 24w ago | 6-K | $65.46 $62.71 | ▼ −4.20% | ▼ −9.04% | $66.64 (+1.80%) |
May 8, 2026 24w ago | Press Release | $65.46 $62.71 | ▼ −4.20% | ▼ −9.04% | $66.64 (+1.80%) |
Apr 24, 2026 26w ago | Press Release | $62.82 $62.22 | ▼ −0.96% | ▼ −6.04% | $66.64 (+6.08%) |
Mar 27, 2026 30w ago | 6-K | $61.40 $68.50 | ▲ +11.56% | ▼ −4.50% | $66.64 (+8.53%) |
US Market Status
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