Financial Statements Release 2025: Remedy Entertainment

Remedy Entertainment delivered a robust fourth‑quarter performance in 2025, with revenue rising 46.3 % to €17.0 million and EBITDA reaching €3.9 million, largely driven by sales of Control, Alan Wake 2, and FBC: Firebreak royalties. Full‑year results showed a 17.5 % revenue increase to €59.5 million, yet operating profit turned negative at €‑14.9 million due to a €14.9 million impairment on FBC: Firebreak and elevated self‑publishing expenses. The company announced the 2026 launch of CONTROL Resonant, plans for substantial marketing investment, and a long‑term objective to double 2024 revenue by 2027 while targeting a 30 % EBITDA margin.

The balance sheet at year‑end 2025 reflected an asset base of €87.5 million, with non‑current assets reduced to €42.8 million mainly because of the FBC: Firebreak impairment. Capitalised development costs stood at €20.2 million, predominantly for CONTROL Resonant. Cash of €9.6 million offset liabilities of €31.0 million, yielding a strong equity ratio of 67.4 % and negative net gearing of –19.7 %. Operating results improved to a €401 thousand profit from the prior year’s loss, driven by higher development fees and game sales, though operating losses remained significant.

Profitability contracted sharply in 2025, with a €13.03 million loss versus a €3.60 million loss in 2024, and total equity fell from €68.53 million to €56.59 million as retained earnings dropped to €11.34 million. Total assets declined from €99.33 million in 2024 to €87.55 million, largely due to a €12.23 million reduction in cash and equivalents and a €9.13 million drop in intangible assets, while liabilities stayed near €30.95 million. Operating cash flow fell to €4.51 million, leaving a net cash position of €9.64 million at year‑end, indicative of significant investment outflows and a shift toward higher debt financing.