Remedy Entertainment Q1 2026 Financial Results

Key insights

7 takeaways

01
Remedy Entertainment reported Q1 2026 revenue of €13.1 million, a 1.9% year-over-year decrease, while EBITDA improved to €2.9 million from €2.6 million in the prior year.See it on page 28
02
Operating cash flow saw a significant turnaround, reaching €8.3 million in Q1 2026 compared to a negative €6.6 million in Q1 2025.See it on page 25
03
Development of the narrative action RPG 'Control Resonant' is in full production, with marketing efforts generating approximately 2 billion media impressions during the quarter.See it on page 12
04
The original 'Control' title has surpassed 6 million lifetime copies sold, bolstered by increased visibility from the upcoming sequel.See it on page 14
05
The company maintains its full-year 2026 outlook for growth in revenue and EBITDA, supported by the 'Max Payne 1&2' remake which is currently in full production.See it on page 28
06
Strategic expansion efforts are targeting high-growth markets in Asia and Latin America to complement the company's core US and EU strongholds.See it on page 17
07
Portfolio stability is supported by ongoing royalties from 'Alan Wake 2', including revenue from its inclusion in Amazon’s Luna service, while 'FBC: Firebreak' has moved into maintenance mode.See it on page 13

Summary

Remedy Entertainment’s Q1 2026 financial results highlight a period of operational transition and strategic focus, marked by the appointment of Jean-Charles Gaudechon as CEO. The company reported revenue of €13.1 million, a slight decrease of 1.9% compared to the same period in the previous year. Despite this marginal decline, EBITDA improved to €2.9 million, up from €2.6 million in the prior year, while operating cash flow saw a significant positive shift to €8.3 million, compared to a negative €6.6 million in Q1 2025.

The primary strategic driver for the company remains the development of Control Resonant. The project is currently in full production, with management emphasizing a goal to establish it as a "must-have" title upon release. Marketing efforts intensified during the quarter, including the release of two trailers and a developer diary, which generated approximately 2 billion media impressions. The title is positioned as a narrative action RPG, with the company expanding its target markets to include high-growth regions in Asia and Latin America alongside its core US and EU strongholds.

Other portfolio assets continue to contribute to the company’s financial stability. The original Control title surpassed 6 million lifetime copies sold, benefiting from increased visibility linked to the upcoming sequel. Meanwhile, FBC: Firebreak has transitioned into maintenance mode, and Alan Wake 2 continues to generate royalties, including revenue from its inclusion in Amazon’s Luna service.

Looking ahead, the company maintains its full-year 2026 outlook, projecting growth in both revenue and EBITDA compared to 2025. The strategic focus remains on strengthening core franchises, expanding into new markets, and advancing self-publishing capabilities. The company’s financial position remains supported by disciplined cost management and the ongoing development of its pipeline, which includes the Max Payne 1&2 remake currently in the full production phase.