Monitor mobile game revenue trends in upcoming quarters — declines may pressure overall growth despite online game strength. Key catalysts: Chinese ISBN approval for Ragnarok M: Eternal Love 2 and expected global launches through H2 2026 and 2027. Joint venture expansion and UGC/platform strategy may open new revenue streams but are early-stage.
Price Chart
Executive Summary
GRAVITY reported Q2 2026 revenue flat QoQ but down 5.2% YoY to KRW 161,884M ($104.5M), with operating profit up 40.2% YoY to KRW 27,582M ($17.8M). The mobile games segment continued to decline (down 10.7% YoY), partly offset by online game growth (+35% YoY). Net profit surged 83.8% YoY to KRW 24,341M ($15.7M) on strong margin expansion and lower costs. The company highlighted multiple Ragnarok IP game launches across regions and a joint venture expansion in Indonesia, with several new titles scheduled for H2 2026 and 2027.
Key Facts
- Q2 2026 revenue KRW 161,884M ($104.5M), down 5.2% YoY and flat QoQ
- Operating profit KRW 27,582M ($17.8M), up 40.2% YoY but down 10.5% QoQ
- Net profit attributable to parent KRW 24,341M ($15.7M), up 83.8% YoY
- Mobile game revenue KRW 128,611M ($83.0M), down 10.7% YoY
- Online game revenue KRW 29,660M ($19.2M), up 35.0% YoY
- Cash and equivalents + short-term instruments KRW 649,231M ($419.2M) as of June 30, 2026
- Several Ragnarok IP titles launched or scheduled for H2 2026 and 2027 across multiple regions
- Joint venture established in Indonesia; JVs planned in Thailand and two other countries
Financial Impact
Revenue decline 5.2% YoY; operating profit +40.2% YoY; net profit +83.8% YoY
Risk Factors
- Mobile game revenue continued to decline (-10.7% YoY), indicating potential franchise fatigue
- Reliance on Ragnarok IP for majority of revenue; geographic and platform diversification still nascent
- Forward guidance not provided; consensus estimates unavailable
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3340984 |
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%) |
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