Updated Mar 17, 2026 by PCF Group
As of August 16, 2021, PCF Group S.A. received zero royalty payments from Square Enix Limited for the game Outriders for the period ending June 30, 2021.
The absence of royalties indicates that Outriders failed to exceed the net sales threshold required to recoup Square Enix's production, distribution, and promotion costs during the game's first full quarter post-launch.
PCF Group S.A. reported a lack of transparency from the publisher, noting that Square Enix did not provide detailed data on sales figures, gross receipts, or total recoupable costs.
The 45-day payment window following the second calendar quarter elapsed without a transfer of funds, confirming that the title had not reached the profitability level necessary to trigger profit sharing.
This financial update highlights the risks of traditional publishing models where developers rely on back-end royalties rather than guaranteed milestone payments.
Management signaled to investors that Outriders has not yet generated supplemental income beyond initial development funding, shifting the focus to long-term sales performance for future cost recovery.
As of August 16, 2021, PCF Group S.A. received zero royalty payments from Square Enix Limited for the game Outriders for the period ending June 30, 2021.
The absence of royalties indicates that Outriders failed to exceed the net sales threshold required to recoup Square Enix's production, distribution, and promotion costs during the game's first full quarter post-launch.
PCF Group S.A. reported a lack of transparency from the publisher, noting that Square Enix did not provide detailed data on sales figures, gross receipts, or total recoupable costs.
The 45-day payment window following the second calendar quarter elapsed without a transfer of funds, confirming that the title had not reached the profitability level necessary to trigger profit sharing.
This financial update highlights the risks of traditional publishing models where developers rely on back-end royalties rather than guaranteed milestone payments.
Management signaled to investors that Outriders has not yet generated supplemental income beyond initial development funding, shifting the focus to long-term sales performance for future cost recovery.