Mobile revenue roundup - Week 28, 2025
SEGA (SGAMY) still #1 in revenue increase for us-traded stocks, whilst Thunderful (THUNDR.ST) mobile launch is slowly accelerating
Public companies Dashboard
Reminder: The “Est. Rev Delta“ % is an increase/decrease from last week’s estimated mobile revenue versus the average of the past 7 weeks of mobile revenue.
US Market
SEGA Sammy (SGAMY or 6460.T), is well known Japanese entertainment conglomerate operating in video games, pachinko machines, and integrated resorts.
We covered last week how their mobile gaming segment saw a significant surge last week driven by 'Persona5: The Phantom X', a new game they recently launched. Let’s have a look at where we’re at this week:
We mentioned last week that with over $3B in yearly revenue, this isn’t a major catalyst. So far it seems that revenue is not going to hold up (but this is too early to call, just a hunch from looking at the above graph), either.
Conclusion with SGAMY: This is not the reason to buy the stock, but it’s an added positive, to a company that appears fairly low-valuated. Worth keeping a track on them.
Gravity Interactive (GRVY) deserves a mention, as it’s back in the top 5. If you recall, it’s been there for 2 full months before dropping out for maybe 1 or 2 weeks. Given our ‘est. revenue increase’ looks at past 7 weeks of revenue, how is Gravity back with a +29% after weeks of success?
We’ll need to drill down at the game level. They have many games so bear with me on this graph:
You can see that whilst M Classic* (wrongly mixed up with Eternal Love in my data source unfortunately) is starting to loose a bit of its momentum after a full quarter of release in Taiwan, Ragnarok “Twilight” (or “Dawn” depending on translation, see in dark purple on graph) was released in the same countries (TW, HK and Macau) and pumped some new revenue in. That’s the normal cycle for Gravity “Ragnarok” games.
Q2 is now over and looking real strong to us, we’re very much looking forward to earnings in August, because M Classic has been a real success, and has some legs yet too - with more country releases to come.
Note: If you’re interested in Gravity, we’ve got many articles and weekly updates covering them. The TLDR is they’re a steadily growing very profitable company, trading at incredibly cheap valuation. Why? They’re 59% owned by another publicly-traded company, GungHo, and they’ve built a fortress of cash instead of buying back shares or paying dividends, which spooks investors.
iHuman (IH) - this +49% is a reversal after really poor weeks - not a catalyst to look into.
Worldwide Markets
Thunderful Group (THUNDR.ST), the TINY traded Swedish gaming company ($5M Cap), which derives most of its revenue from PC and Consoles games, is still at the top of the worldwide chart following the relase of “Vampire's Fall 2”, leading to a +434% increase against a very-close-to-0 baseline.
This is actually accelerating vs last week, which is quite unusual and interesting. Usually, games revenue peak pretty much in the first week or two. It’s quite positive when momentum continues.
Current pace of mobile revenue would annualize at $2M/year (which we expect are VERY conservative numbers from our algorithm for these worldwide released games)- This is still not highly significant vs their $28M revenue, but it’s certainly trending in the right direction. We’ll keep an eye out.
Other actors in the top 5 world aren’t of interest for various reasons.
That’s it - have a good week. If you’d like to keep yourself updated every week on the ups and downs of the publicly-traded companies publishing mobile app - give us a follow or subscribe!
*I had wrongly referred to Ragnarok: Eternal Love 2 as Ragnarok: M Classic. Those are 2 separate games. Eternal Love 2 is not yet out, whilst Ragnarok: M Classic is really a refresh of Ragnarok M: Eternal Love (#1)… Yeah - lots of Ragnaroks.