Updated Jun 1, 2026 by Remedy Entertainment
Financial · February 9, 2026
Published by Remedy Entertainment
February 10, 2026 Remedy Entertainment Plc Remedy Entertainment Plc | Stock exchange release | February 10, 2026, at 09:00 Remedy Entertainment Plc | Financial Statements Release 2025 Remedy revealed its highly anticipated sequel: CONTROL Positive operating profit in Q4. Full year revenue and EBITDA increased driven by rising game sales and royalties.
Remedy Entertainment Plc | Stock exchange release | February 10, 2026, at 09:00 a.m. EET Remedy Entertainment Plc | Financial Statements Release 2025 Remedy revealed its highly anticipated sequel: CONTROL Resonant Positive operating profit in Q4. Full year revenue and EBITDA increased driven by rising game sales and royalties. Figures in parentheses refer to the comparison period in the previous year, unless otherwise stated. Highlights from October–December 2025 • Revenue increased by 46.3% to EUR 17.0 (11.7) million. • EBITDA was EUR 3.9 (-0.6) million. • Operating profit (EBIT) was EUR 0.7 (-1.4) million, and the operating profit margin was 4.3% (-11.9%) of revenue. • Cash flow from operations was EUR -3.3 (-1.2) million. • In October 2025, Tero Virtala stepped down as the CEO of Remedy Entertainment Plc and Markus Mäki was appointed as the interim CEO. Markus Mäki stepped down as the Chairman of the Board and the Board of Directors elected Henri Österlund as the new Chairman. • In October 2025, the Board of Directors decided on a new option plan 2025. • During November–December 2025 Remedy repurchased 50,000 of the company’s own shares. • In December 2025, Remedy unveiled that CONTROL Resonant (previously known as Control 2) will be published in 2026. • After the reporting period, on February 9ᵗʰ, 2026, Jean-Charles Gaudechon was appointed as the CEO of Remedy Entertainment Plc as of March 1ˢᵗ, 2026.
Highlights from January–December 2025 • Revenue increased by 17.5% to EUR 59.5 (50.7) million. • EBITDA was EUR 11.3 (2.5) million. • Operating profit (EBIT) was EUR -14.9 (-4.3) million, and the operating profit margin was -25.0% (-8.4%) of revenue. • Cash flow from operations was EUR 4.5 (11.0) million. • In June 2025, Remedy launched FBC: Firebreak worldwide, a three-player co-op FPS and the company's first self-published game. • In August 2025, Remedy celebrated its 30ᵗʰ year of making video games. • In September 2025, Remedy recognized a non-cash impairment for FBC: Firebreak of EUR 14.9 million. • In October 2025, Tero Virtala stepped down as the CEO of Remedy Entertainment Plc and Markus Mäki was appointed as the interim CEO. Markus Mäki stepped down as the Chairman of the Board and the Board of Directors elected Henri Österlund as the new Chairman. • In October, the Board of Directors decided on a new option plan 2025. • In December 2025, Remedy unveiled that CONTROL Resonant (previously known as Control 2) will be published in 2026. • The Board of Directors proposes that no dividend will be paid for the year 2025. REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 2 (22)
> **[Chart page]** This page contains visual data — view in PDF for the best experience. Key Figures MEUR, IFRS, Group 10–12/2025 10–12/2024 1–12/2025 1–12/2024 Revenue 17.0 11.7 59.5 50.7 Growth in revenue, % 46.3% 13.1% 17.5% 49.3% EBITDA 3.9 -0.6 11.3 2.5 EBITDA, % of revenue 22.7% -4.9% 19.1% 5.0% Operating profit (EBIT) 0.7 -1.4 -14.9 -4.3 Operating profit, % of revenue 4.3% -11.9% -25.0% -8.4% Result for review period 0.4 -1.3 -13.0 -3.6 Result for review period, % of revenue 2.4% -10.8% -21.9% -7.1% Balance sheet total 87.5 99.3 87.5 99.3 Cash flow from operations -3.3 -1.2 4.5 11.0 Net cash 11.1 25.3 11.1 25.3 Cash and liquid investments 29.4 41.1 29.4 41.1 Net gearing, % -19.7% -36.9% -19.7% -36.9% Equity ratio, % 67.4% 70.9% 67.4% 70.9% Capital expenditures 2.8 1.7 14.3 26.6* Average number of personnel during 375 352 371 351 review period (FTE) Headcount at the end of period 387 367 387 367 Earnings per share, € 0.03 -0.09 -0.96 -0.27 Earnings per share, € (diluted) 0.03 -0.09 -0.96 -0,27 Number of shares at the end of period 13,640,451** 13,574,151 13,640,451** 13,574,151 *Contains 16.9 million invested in publishing rights of CONTROL franchise. **Includes 50,000 treasury shares. REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 3 (22)
Comments by interim CEO Markus Mäki In the fourth quarter of 2025, Remedy’s revenue increased by 46.3% from the comparison period and was EUR 17.0 (11.7) million. Game sales and royalties kept on increasing during the fourth quarter of 2025 and formed almost half of the total revenue for Q4 2025, the major contributors being royalties from Alan Wake 2 and game sales of Control. Development fees were from Max Payne 1 & 2 remake and CONTROL Resonant. EBITDA was EUR 3.9 (-0.6) million. Operating profit (EBIT) was EUR 0.7 (- 1.4) million. The improvement in profitability in the fourth quarter was mainly driven by the higher revenue level compared to the comparison period. Announcement of CONTROL Resonant Remedy’s year culminated in our reveal of CONTROL Resonant in December. CONTROL Resonant is the sequel to Remedy’s multi-award-winning Control, released in 2019. CONTROL Resonant is an action-adventure role-playing game in which players explore a warped Manhattan on the brink of paranatural annihilation. Scheduled for release in 2026 and published by Remedy, it is our most ambitious game to date. The game will be available on PlayStation 5, Xbox Series X|S, PC via Steam and Epic Games Store, and Mac via Steam and the App Store. Early reception to the announcement has been excellent. Player and community sentiment has been very positive, indicated by engaged fans and positive wishlist numbers. Our goal is to make the game a 'must-have day-one purchase' for the fans of Control and the action role-playing genre. The announcement at The Game Awards in December was a great kickstart to the ambitious global marketing campaign we have planned for CONTROL Resonant.
d positive wishlist numbers. Our goal is to make the game a 'must-have day-one purchase' for the fans of Control and the action role-playing genre. The announcement at The Game Awards in December was a great kickstart to the ambitious global marketing campaign we have planned for CONTROL Resonant. Games in the market Control sold well during the fourth quarter, and we continued the work started earlier in the year after receiving the full publishing and distribution rights: expanding the reach of the game and finding new addressable audiences for the whole CONTROL franchise. Sales of Control also received a boost from the announcement of CONTROL Resonant. In 2025, Control sold over 1 million copies. Alan Wake 2 was one of PlayStation Plus’ monthly games of October during the Halloween season, signaling its category-defining status and generating us platformdeal royalties. In parallel with the subscription-based platform access on PlayStation Plus, the game also continued steady royalty generation through unit sales. Other games of the Alan Wake franchise continued steady sales during the quarter. In 2025, Alan Wake 2 generated meaningful royalties, and the royalty generation strengthened in the latter part of the year. FBC: Firebreak continued in post-launch development during the fourth quarter with the Major Update Rogue Protocol released in January 2026 after the review period. During the fourth quarter, we introduced new discounts for the game. In 2025, we delivered larger previously communicated updates to FBC: Firebreak. Smaller updates will still be introduced to the game.
quarter with the Major Update Rogue Protocol released in January 2026 after the review period. During the fourth quarter, we introduced new discounts for the game. In 2025, we delivered larger previously communicated updates to FBC: Firebreak. Smaller updates will still be introduced to the game. REMEDY ENTERTAINMENT PLC. LUOMANPORTTI 3, 02200 ESPOO, FINLAND 4 (22)
4 Questions & Answers Tero Virtala Santtu Kallionpää Revenue increased by 13.1% to EUR 11.7 (10.3) million ‒ Revenue increased by 13.1% to EUR 11.7 (10.3) million EBITDA increased to EUR -0.6 (-3.9) million, 4.9% (-37.4%) of revenue ‒ EBITDA increased to EUR -0.6 (-3.9) million, 4.9% (-37.4%) of revenue ‒ Operating profit was EUR -1.4 (-12.8) million, and the operating profit ‒ Cash flow from operations was EUR -1.2 (0.1) million ‒ In October, Remedy announced The Lake House expansion...
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CEO's message | Net sales and earnings | Other financial information | Financial reports | Other information CEO's message | Net sales and earnings | Other financial information | Financial reports | Other information Fourth quarter 2025 Significant events during and after the quarter • Net sales amounted to SEK 41.1 million (46.4).
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