Strong Q1 beat with accelerating mobile revenue and a packed launch pipeline supports positive momentum. Watch for execution on upcoming Ragnarok titles in Korea, Southeast Asia, and the Americas through H2 2026, which could drive further upside.
Price Chart
Executive Summary
Gravity reported strong Q1 2026 results with total revenue up 17.8% YoY to KRW 161,878 million and net profit up 33.4% YoY to KRW 29,394 million, driven by mobile game launches including Ragnarok The New World and Ragnarok Origin Classic. The company also provided a robust pipeline of upcoming game releases across multiple regions, reinforcing its growth trajectory.
Key Facts
- Total revenue KRW 161,878 million (US$106,254k), +17.8% YoY and +42.7% QoQ
- Operating profit KRW 30,830 million (US$20,236k), +24.7% YoY and +163.1% QoQ
- Net profit attributable to parent KRW 29,394 million (US$19,294k), +33.4% YoY and +138.7% QoQ
- Mobile game revenue KRW 132,800 million (US$87,168k), +15.0% YoY, driven by new launches
- Cash and equivalents + short-term instruments KRW 611,615 million (US$401,454k) as of March 31, 2026
- Multiple upcoming game launches planned through 2027 across Asia, Americas, and Global markets
Financial Impact
Revenue increased 17.8% YoY to ~$106M; operating profit up 24.7% YoY to ~$20M; net profit up 33.4% YoY to ~$19M
Risk Factors
- Heavy reliance on Ragnarok IP for majority of revenue
- Cost of revenue grew 26% YoY, outpacing revenue growth, pressuring gross margin
- Competition in mobile gaming and potential slowdown in older titles
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001628280-26-032533 |
| Document: 0001628280-26-032533-index-headers.html | 0001628280-26-032533 |
| Document: 0001628280-26-032533-index.html | 0001628280-26-032533 |
| Document: 0001628280-26-032533.txt | 0001628280-26-032533 |
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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