Gravity Co. reported a 12.5% revenue increase to KRW 405,953 million in FY2020, with mobile micro-transactions accounting for 73.5% of total sales.

According to "Gravity Co. Annual Report on Form 20‑F for FY2020": Gravity Co. reported a 12.5% revenue increase to KRW 405,953 million in FY2020, with mobile micro-transactions accounting for 73.5% of total sales.

Operating profit grew by 81.6% to KRW 88.4 billion, while gross profit margins improved significantly to 41.1% compared to 26.4% in 2018.

According to "Gravity Co. Annual Report on Form 20‑F for FY2020": Operating profit grew by 81.6% to KRW 88.4 billion, while gross profit margins improved significantly to 41.1% compared to 26.4% in 2018.

The flagship title 'Ragnarok M: Eternal Love' generated 43.6% of total revenue, while 'Ragnarok Online' experienced a 111.6% sales surge following its relaunch in Thailand.

According to "Gravity Co. Annual Report on Form 20‑F for FY2020": The flagship title 'Ragnarok M: Eternal Love' generated 43.6% of total revenue, while 'Ragnarok Online' experienced a 111.6% sales surge following its relaunch in Thailand.

Auditors identified material weaknesses in internal controls over financial reporting, specifically regarding IT general controls and the potential misstatement of deferred revenue.

According to "Gravity Co. Annual Report on Form 20‑F for FY2020": Auditors identified material weaknesses in internal controls over financial reporting, specifically regarding IT general controls and the potential misstatement of deferred revenue.

The company faces substantial financial risk from foreign-currency exposure, as 73% of revenue is earned in non-Korean currencies without the protection of hedging contracts.

According to "Gravity Co. Annual Report on Form 20‑F for FY2020": The company faces substantial financial risk from foreign-currency exposure, as 73% of revenue is earned in non-Korean currencies without the protection of hedging contracts.

Gravity maintains a strong liquidity profile with KRW 110.6 billion in cash and no long-term debt, though it faces ongoing governance concerns related to GungHo’s majority ownership and limited shareholder protections.

According to "Gravity Co. Annual Report on Form 20‑F for FY2020": Gravity maintains a strong liquidity profile with KRW 110.6 billion in cash and no long-term debt, though it faces ongoing governance concerns related to GungHo’s majority ownership and limited shareholder protections.

Operational stability is threatened by a complex regulatory landscape across Korea, Taiwan, Thailand, and the U.S., including strict data-privacy laws and potential restrictions on gaming content.

According to "Gravity Co. Annual Report on Form 20‑F for FY2020": Operational stability is threatened by a complex regulatory landscape across Korea, Taiwan, Thailand, and the U.S., including strict data-privacy laws and potential restrictions on gaming content.

Back to report

Key Insights

Gravity Co. Annual Report on Form 20‑F for FY2020

Gravity Co.~532 min full read

01
Gravity Co. reported a 12.5% revenue increase to KRW 405,953 million in FY2020, with mobile micro-transactions accounting for 73.5% of total sales.
02
Operating profit grew by 81.6% to KRW 88.4 billion, while gross profit margins improved significantly to 41.1% compared to 26.4% in 2018.
03
The flagship title 'Ragnarok M: Eternal Love' generated 43.6% of total revenue, while 'Ragnarok Online' experienced a 111.6% sales surge following its relaunch in Thailand.
04
Auditors identified material weaknesses in internal controls over financial reporting, specifically regarding IT general controls and the potential misstatement of deferred revenue.
05
The company faces substantial financial risk from foreign-currency exposure, as 73% of revenue is earned in non-Korean currencies without the protection of hedging contracts.
06
Gravity maintains a strong liquidity profile with KRW 110.6 billion in cash and no long-term debt, though it faces ongoing governance concerns related to GungHo’s majority ownership and limited shareholder protections.
07
Operational stability is threatened by a complex regulatory landscape across Korea, Taiwan, Thailand, and the U.S., including strict data-privacy laws and potential restrictions on gaming content.

That's the gist.

Dive into the full report for the data, charts, and sources behind these takeaways.

Read the full report