Gravity Co., Ltd (GRVY) Income Statement
GRVY 2025 at a glance
Fiscal year ended December 31, 2025 · South Korean wonGRVY revenue and net income
Where GRVY's revenue goes
2025Each bar shows an amount and its share of revenue. GRVY kept 12.0% of revenue as net income.
GRVY profit margins
GRVY growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.9% | +6.5% | +6.7% | +31.7% |
| Gross profit | +1.2% | +0.0% | +3.3% | +43.3% |
| Operating income | −6.6% | −8.7% | −2.0% | — |
| Net income | −20.6% | −6.7% | +1.5% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GRVY income statement in South Korean won
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₩560.55B | ₩500.85B | ₩725.52B | ₩463.62B | ₩413.94B | ₩405.95B | ₩360.97B | ₩286.77B | ₩141.62B | ₩34.96B |
| Cost of revenue | ₩364.27B | ₩306.90B | ₩484.96B | ₩267.37B | ₩224.17B | ₩239.04B | ₩265.79B | ₩210.04B | ₩94.23B | ₩14.05B |
| Gross profit | ₩196.28B | ₩193.94B | ₩240.56B | ₩196.25B | ₩189.76B | ₩166.91B | ₩95.18B | ₩76.73B | ₩47.39B | ₩20.91B |
| Research & development | ₩10.33B | ₩15.26B | ₩13.49B | ₩13.80B | ₩16.57B | ₩15.03B | ₩9.50B | ₩7.08B | ₩5.24B | ₩1.97B |
| Sales, general & admin | ₩100.31B | ₩85.92B | ₩59.95B | ₩72.78B | ₩72.53B | ₩60.38B | ₩35.37B | ₩34.94B | ₩27.79B | ₩12.81B |
| Total operating expenses | ₩116.50B | ₩108.56B | ₩80.19B | ₩91.55B | ₩93.05B | ₩78.54B | ₩46.34B | ₩42.84B | ₩33.25B | ₩15.22B |
| Operating income | ₩79.78B | ₩85.38B | ₩160.37B | ₩104.71B | ₩96.72B | ₩88.37B | ₩48.80B | ₩33.89B | ₩14.14B | ₩5.69B |
| Interest income | ₩15.82B | ₩17.06B | ₩10.18B | ₩15.95B | ₩5.27B | ₩1.27B | ₩1.63B | ₩819.0M | ₩554.0M | ₩522.0M |
| Interest expense | ₩282.0M | ₩135.0M | ₩162.0M | ₩127.0M | ₩115.0M | ₩186.0M | ₩277.0M | ₩12.0M | ₩13.0M | ₩0 |
| Income before taxes | ₩90.94B | ₩106.35B | ₩168.70B | ₩109.88B | ₩99.30B | ₩88.01B | ₩51.26B | ₩34.44B | ₩14.46B | ₩2.48B |
| Income taxes | ₩23.63B | ₩21.45B | ₩36.72B | ₩26.82B | ₩33.42B | ₩25.45B | ₩11.53B | ₩3.05B | ₩1.14B | ₩3.22B |
| Net income | ₩67.46B | ₩84.92B | ₩132.02B | ₩83.16B | ₩65.95B | ₩62.70B | ₩39.88B | ₩31.44B | ₩13.32B | −₩736.6M |
| EBITDA | ₩102.04B | ₩115.72B | ₩176.52B | ₩117.07B | ₩105.73B | ₩93.12B | ₩52.46B | ₩34.71B | ₩14.66B | ₩4.38B |
| Gross margin | 35.0% | 38.7% | 33.2% | 42.3% | 45.8% | 41.1% | 26.4% | 26.8% | 33.5% | 59.8% |
| Operating margin | 14.2% | 17.0% | 22.1% | 22.6% | 23.4% | 21.8% | 13.5% | 11.8% | 10.0% | 16.3% |
| Net margin | 12.0% | 17.0% | 18.2% | 17.9% | 15.9% | 15.4% | 11.0% | 11.0% | 9.4% | −2.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₩161.88B | ₩113.45B | ₩121.05B | ₩100.24B | ₩121.82B | ₩94.70B | ₩129.72B | ₩128.38B | ₩122.97B | ₩119.78B | ₩133.46B | ₩176.15B |
| Cost of revenue | ₩109.54B | ₩74.26B | ₩79.20B | ₩63.90B | ₩81.34B | ₩60.25B | ₩81.01B | ₩76.26B | ₩76.01B | ₩73.63B | ₩93.33B | ₩117.83B |
| Gross profit | ₩52.34B | ₩39.19B | ₩41.85B | ₩36.34B | ₩40.48B | ₩34.45B | ₩48.72B | ₩52.12B | ₩46.96B | ₩46.15B | ₩40.13B | ₩58.31B |
| Research & development | ₩2.95B | ₩1.46B | ₩8.87B | ₩1.55B | ₩2.35B | ₩2.36B | ₩3.67B | ₩3.71B | ₩4.29B | ₩3.60B | ₩3.75B | ₩3.96B |
| Sales, general & admin | ₩21.13B | ₩24.88B | ₩18.27B | ₩26.68B | ₩33.51B | ₩1.95B | ₩21.73B | ₩20.32B | ₩28.11B | ₩15.75B | ₩17.84B | ₩17.19B |
| Total operating expenses | ₩24.76B | ₩27.47B | ₩27.42B | ₩20.80B | ₩26.26B | ₩17.42B | ₩112.40B | ₩24.54B | ₩31.97B | ₩19.28B | ₩28.77B | ₩20.39B |
| Operating income | ₩27.58B | ₩11.72B | ₩14.43B | ₩15.54B | ₩14.22B | ₩17.03B | ₩17.33B | ₩27.58B | ₩14.99B | ₩26.87B | ₩15.00B | ₩37.92B |
| Interest income | ₩5.88B | ₩9.87B | ₩829.0M | ₩5.93B | ₩2.65B | ₩10.72B | ₩4.03B | ₩5.92B | ₩8.87B | ₩6.30B | ₩5.24B | ₩7.06B |
| Interest expense | ₩987.0M | ₩3.09B | ₩594.1M | — | ₩2.58B | ₩4.82B | ₩9.42B | ₩5.08B | ₩3.80B | ₩668.0M | ₩7.98B | ₩3.77B |
| Income before taxes | ₩32.47B | ₩16.58B | ₩17.81B | ₩19.64B | ₩13.35B | ₩19.60B | ₩25.38B | ₩28.41B | ₩20.06B | ₩32.50B | ₩26.17B | ₩41.21B |
| Income taxes | ₩8.12B | ₩4.41B | ₩4.73B | ₩5.31B | ₩3.91B | ₩4.39B | — | ₩6.08B | ₩7.48B | ₩5.62B | ₩4.62B | ₩12.22B |
| Net income | ₩24.34B | ₩12.31B | ₩13.23B | ₩14.34B | ₩9.45B | ₩15.18B | ₩23.10B | ₩22.39B | ₩12.57B | ₩26.87B | ₩21.58B | ₩28.96B |
| EBITDA | ₩33.46B | ₩19.67B | ₩202.6M | ₩19.64B | ₩15.93B | ₩24.42B | — | ₩33.50B | ₩23.86B | ₩33.17B | ₩15.56B | ₩44.98B |
| Gross margin | 32.3% | 34.5% | 34.6% | 36.3% | 33.2% | 36.4% | 37.6% | 40.6% | 38.2% | 38.5% | 30.1% | 33.1% |
| Operating margin | 17.0% | 10.3% | 11.9% | 15.5% | 11.7% | 18.0% | 13.4% | 21.5% | 12.2% | 22.4% | 11.2% | 21.5% |
| Net margin | 15.0% | 10.9% | 10.9% | 14.3% | 7.8% | 16.0% | 17.8% | 17.4% | 10.2% | 22.4% | 16.2% | 16.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in South Korean won as reported in GRVY's financial statements (latest annual report filed April 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GRVY financial results
In fiscal year 2025 (ended December 31, 2025), Gravity reported revenue of ₩560.5 billion, up 11.9% from the year before. It had net income of ₩67.5 billion (down 20.6%), a net profit margin of 12.0%. Over five years revenue grew at an average rate of 6.7% a year. Figures are in South Korean won, the currency of its financial statements.
See the GRVY stock overview for the latest quote and news, or the GRVY chart for price history and technical indicators.
GRVY income statement FAQ
What is Gravity's annual revenue?
Gravity reported total revenue of ₩560.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 11.9% from ₩500.8 billion the previous year.
Is Gravity profitable?
Yes. Gravity reported net income of ₩67.5 billion in fiscal 2025, a net profit margin of 12.0%; its operating margin was 14.2%.
What is Gravity's gross margin?
Gravity's gross margin was 35.0% in fiscal 2025: for every $100 of revenue, Gravity kept $35 after the direct cost of its products and services.
How much does Gravity spend on research and development?
Gravity spent ₩10.3 billion on research and development in fiscal 2025, 1.8% of revenue.
How fast is Gravity growing?
Revenue grew 6.7% a year on average over the last five fiscal years, from ₩406.0 billion to ₩560.5 billion.
When will Gravity report its next earnings?
Gravity is expected to report results for the quarter ending September 30, 2026 on November 6, 2026 before the market opens.
When does Gravity's fiscal year end?
Gravity's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 24, 2026.