Ragnarok M: Classic's Triumphant Launch in Southeast Asia

Gravity Co., Ltd. (NasdaqGM: GRVY), a leading developer and publisher of online and mobile games, has achieved a significant milestone with the successful launch of Ragnarok M: Classic in the Southeast Asian region. The game, which is a nostalgic reimagining of the classic MMORPG Ragnarok Online, has garnered an enthusiastic reception from players, laying the foundation for long-term success in the region.

Ragnarok M: Classic has built a gameplay environment where users can compete fairly, with unique currency systems and monthly free passes. Players can achieve quick character growth through 24-hour automated hunting, even while offline. Additionally, all items can be obtained directly through gameplay, and equipment enhancement guarantees a certain level of success with materials, reducing supply concerns.

Gravity Interactive (GVI), the North American branch of Gravity, launched Ragnarok M: Classic in nine Southeast Asian regions, in both mobile and PC versions, on February 14, 2025. Following the pre-registration that started on November 14, 2024, in Southeast Asia, over a million users participated in the pre-registration, demonstrating strong interest among local users in the region.

After the pre-download launch in the Southeast Asia region, Ragnarok M: Classic topped the Apple App Store charts in Thailand, the Philippines, and Malaysia, achieving 1st place for popular games. It also ranked 2nd in Singapore and 3rd in Indonesia. Upon official launch, the game secured 2nd, 4th, and 10th spots in revenue rankings in Thailand, the Philippines, and Indonesia on the Apple App Store. In addition, it reached 2nd place in Thailand, 5th in Singapore, and 9th in the Philippines in the Google Play popular games rankings, along with positions in revenue rankings.

To commemorate the official launch of Ragnarok M: Classic, Gravity Interactive (GVI) is conducting various events such as new starting quests, daily bonuses, MVP card giveaways, and level-up rewards, expecting more Southeast Asian users to play the game in the future.

James Hong, Vice President of Gravity Interactive (GVI), stated, "Thanks to the high interest and support from Southeast Asian users even before the official launch, we have successfully gained early success and are smoothly proceeding with the service." He added, "Without being content with initial success, we will continue to promote the charm of Ragnarok M: Classic to more users and strive for continued success."

Gravity's financial results for Q4 2024, although still unaudited, indicate a tentative consolidated revenue of KRW 130 billion, representing a 1.3% increase compared to the previous quarter. This growth is likely attributed to the launches of multiple Ragnarok IP-based games in key regions like Southeast Asia, Japan, and others. The company maintains a solid liquidity position with cash and cash equivalents totaling KRW 553,202 million as of December 31, 2024.

In conclusion, the successful launch of Ragnarok M: Classic in Southeast Asia has not only expanded Gravity's market presence but also demonstrated the enduring appeal of the Ragnarok franchise. With its unique gameplay mechanics, engaging events, and strong user interest, Ragnarok M: Classic is poised to become a significant player in the Southeast Asian gaming market. As Gravity continues to promote the game and engage with its user base, the long-term prospects for Ragnarok M: Classic and the company's overall financial performance remain promising.