Remedy Entertainment Business Review: January-March 2025

Remedy Entertainment’s business review for the first quarter of 2025 highlights a return to profitability and solid revenue growth as the company transitions toward a self-publishing model. Revenue for the period reached EUR 13.4 million, representing a 24.1% increase compared to the same period in 2024. The company achieved an operating profit of EUR 1.3 million and an EBITDA of EUR 2.6 million, marking a significant improvement over the losses recorded in the previous year.

The primary drivers of this financial performance were increased development fees from the Control 2 and Max Payne 1 & 2 remake projects, alongside steady royalty income from Alan Wake 2. During the quarter, the company finalized the acquisition of full publishing rights for the Control franchise from 505 Games, a strategic move intended to support its long-term goal of self-publishing all owned intellectual property. The company also announced that its first self-published title, FBC: Firebreak, is scheduled for release in June 2025.

The review covers the period from January 1 to March 31, 2025, and reflects the company’s operations in Finland and Sweden. While operating profit turned positive, cash flow from operations was EUR -6.6 million, largely due to the timing of project development payments and the final installment paid for the Control franchise rights. Despite this, the company maintains a stable financial position with an equity ratio of 73.9%. Management remains committed to its long-term targets, which include doubling 2024 revenue by 2027 and achieving a sustained 30% EBITDA margin, supported by a consistent cadence of future game releases.