Business Review: January–March 2026

Remedy Entertainment Plc reported a profitable first quarter of 2026, with revenue falling 1.9 % to EUR 13.1 million compared to the same period in 2025, while EBITDA rose to EUR 2.9 million and operating profit reached EUR 1.0 million, reflecting a 7.8 % margin. Cash flow from operations improved markedly to EUR 8.3 million, reversing a negative cash flow in the prior year. The decline in revenue was offset by stronger game sales and royalties, particularly from Alan Wake 2 and the launch of FBC: Firebreak, while development fees from Max Payne 1&2 remake and CONTROL Resonant contributed significantly. Personnel expenses increased 5.1 %, driven by a 4.8 % headcount growth to 391 employees, whereas materials and services costs fell 52.5 %. Capital expenditures were modest at EUR 3.3 million, and the balance sheet remained solid with a net cash position of EUR 14.4 million and an equity ratio of 68.6 %. The company’s net gearing turned negative at –27.7 %, indicating a strong liquidity cushion.

Geographically, Remedy operates globally with a focus on core markets and expanding presence in China and Latin America through targeted marketing campaigns for CONTROL Resonant. The quarter’s marketing spend is set to intensify ahead of the game’s 2026 launch, with multilingual localization and partnership initiatives. Remedy maintains a self‑publishing strategy for its IPs, aiming to double 2024 revenue by 2027 and achieve a 30 % EBITDA margin. CEO Jean‑Charles Gaudechon emphasized continued focus on creative identity, franchise expansion, and commercial discipline. Risks highlighted include development failures, partner contract breaches, self‑publishing financial exposure, talent retention challenges, and currency volatility. The company’s outlook remains positive, with expectations of full‑year revenue and EBITDA growth relative to the previous year.