FY25 Trading Update: For the Financial Year 1 June 2024 to 31 May 2025

Frontier Developments has successfully executed a strategic pivot toward its core Creative Management Simulation (CMS) portfolio, which now generates 77% of total revenue. This refocusing effort resulted in a provisional FY25 revenue increase to £90.6 million and a substantial rise in Adjusted EBITDA to between £8 million and £9 million, up from just £0.9 million the previous year. Financial stability is further evidenced by a 10% reduction in cash operating expenses and a strengthened cash position of £42.5 million. This robust performance prompted the initiation of a £10 million share buyback program to return capital to shareholders.

Operational success is driven by both new releases and the sustained performance of established franchises. Planet Coaster 2 achieved a strong launch with over 500,000 units sold, while the Jurassic World Evolution and Planet Zoo series continue to provide a stable foundation, contributing 27% and 25% of total revenue respectively. Notably, Elite Dangerous experienced a 76% year-over-year revenue surge, fueled by a 150% increase in downloadable content sales following the introduction of new ship access models. These results underscore the effectiveness of a streamlined development approach and improved gross margins, which reached approximately 70%.

The long-term growth strategy relies on a disciplined release schedule and enhanced leadership structures. A newly established Executive Board has been tasked with improving operational efficiency and unifying decision-making across the organization. Future growth is anchored by the confirmed release of Jurassic World Evolution 3 on October 21, 2025, alongside an unannounced CMS title currently in development for FY27. By concentrating resources on high-margin simulation titles and optimizing internal workflows, the company has successfully transitioned from a period of restructuring to one of sustainable profitability and capital return.