Updated Mar 17, 2026 by Pullup Entertainment
Pullup Entertainment achieved record H1 2024/2025 revenue of €234.3 million, a 176% year-over-year increase driven primarily by the launch of Warhammer 40,000: Space Marine 2.
The company transitioned from a net loss to a positive EBITA of €48.3 million and a consolidated net income of €22.1 million.
Operational risk is concentrated in a high dependency on Saber Interactive, which accounts for 30% of the company's projected investments over the next three years.
The group faces a net debt of €127.2 million against a cash position of €22.7 million, with credit lines secured by pledged stakes in subsidiaries like Focus Entertainment Publishing and Dovetail Games.
Digital channels dominate the revenue mix at 89% of sales, while the Americas remain the primary market, contributing 54% of total revenue.
Financial exposure is significant, with 60% of revenue denominated in USD and accounts receivable reaching €196.3 million alongside €93.7 million in supplier debt.
Strategic restructuring included a rebranding from Focus Entertainment to Pullup Entertainment, a €23.1 million capital increase in May 2024, and the divestment of Streum On Studio.
Pullup Entertainment achieved record H1 2024/2025 revenue of €234.3 million, a 176% year-over-year increase driven primarily by the launch of Warhammer 40,000: Space Marine 2.
The company transitioned from a net loss to a positive EBITA of €48.3 million and a consolidated net income of €22.1 million.
Operational risk is concentrated in a high dependency on Saber Interactive, which accounts for 30% of the company's projected investments over the next three years.
The group faces a net debt of €127.2 million against a cash position of €22.7 million, with credit lines secured by pledged stakes in subsidiaries like Focus Entertainment Publishing and Dovetail Games.
Digital channels dominate the revenue mix at 89% of sales, while the Americas remain the primary market, contributing 54% of total revenue.
Financial exposure is significant, with 60% of revenue denominated in USD and accounts receivable reaching €196.3 million alongside €93.7 million in supplier debt.
Strategic restructuring included a rebranding from Focus Entertainment to Pullup Entertainment, a €23.1 million capital increase in May 2024, and the divestment of Streum On Studio.