Earnings are out for Gravity, and we're quite far off. In fact, it's like Ragnarok Origin China, the #1 story of this Q2., is absent from those numbers.
Surprisingly, Origin China is not mentioned all in their 6-K. It's certainly not an omission, given how they always list which game/release drove revenues and expenses up/down, every quarter.
It could well be that Q2 does not account for any revenue or profit for Origin, which is the only way we can explain those numbers, to be honest.
Still, a profitable quarter for an undervalued company, sitting on a growing pile of cash.
Earnings are out for Gravity, and we're quite far off. In fact, it's like Ragnarok Origin China, the #1 story of this Q2., is absent from those numbers.
Surprisingly, Origin China is not mentioned all in their 6-K. It's certainly not an omission, given how they always list which game/release drove revenues and expenses up/down, every quarter.
It could well be that Q2 does not account for any revenue or profit for Origin, which is the only way we can explain those numbers, to be honest.
Still, a profitable quarter for an undervalued company, sitting on a growing pile of cash.
Here is a link to their earnings presentation: https://img.gravity.co.kr/GravityUpload/0000/2024/08/09/Gravity%20IR%20Presentation_2024_2Q_EN.pdf
Here is their SEC disclosure document 6-K: https://www.sec.gov/Archives/edgar/data/1313310/000162828024036323/a6-k_gravityxsecondquarter.htm
Any theories on why Origin China, is left out of the story? I'll let you know should IR reply.
I was wrong about my theory...