Gravity (NASDAQ:GRVY), the South Korean developer behind the long-standing Ragnarok franchise, reported preliminary unaudited financial results for the fourth quarter and full year of 2025, revealing a sequential dip in profitability even as it gears up for a heavy release schedule in 2026.
The company’s tentative consolidated revenue for Q4 2025 reached KRW 113 billion, with an operating profit of KRW 12 billion.
These figures represent a notable contraction of 18.6% and 12.9% respectively compared to the previous quarter and the same period last year.
Despite the quarterly cooling, Gravity’s full-year performance remained substantial, with total 2025 revenue estimated at KRW 560 billion and operating profit at KRW 77 billion.
Investor attention is currently focused on the company’s massive liquidity and its aggressive 2026 roadmap.
As of December 31, 2025, Gravity held KRW 618,633 million in cash and short-term financial instruments, providing a significant war chest for marketing and development.
The report highlighted the successful January 2026 launch of Ragnarok: The New World in Taiwan, Hong Kong, and Macau, where the title quickly claimed the top spot in Apple App Store download and grossing charts.