Financial Reports·Updated Mar 17, 2026 by Pullup Entertainment
Pullup Entertainment reported record FY 2024/25 revenue of €390 million, a 108% increase year-on-year and a 101% rise over the previous 2022/23 record.
New releases were the primary growth driver, generating €257.8 million—a four-fold increase—while the back-catalogue remained stable at €123.6 million, supported by titles like SnowRunner and Insurgency: Sandstorm.
The company projects EBITA of €55–60 million for the fiscal year, approximately doubling its previous best result from 2022/23, while simultaneously reducing net debt.
Q4 revenue saw a 7.1% decline to €54.8 million, despite contributions from recent launches including Warhammer 40,000: Space Marine 2 and Train Sim World 5.
Strategic growth is anchored in partnerships with brands such as Marvel, Mattel, Koei Tecmo, and Games Workshop to expand the pipeline of licensed and original IPs.
The FY 2025/26 slate includes new titles such as Memories in Orbit, Roadcraft, Ninja Gaiden: Ragebound, and Marvel Cosmic Invasion.
Leadership changes include the appointment of Geoffroy Sardin as CEO and Marion Dufour as Chief People Officer to oversee operations across six studios and over 600 employees.
Pullup Entertainment reported record FY 2024/25 revenue of €390 million, a 108% increase year-on-year and a 101% rise over the previous 2022/23 record.
New releases were the primary growth driver, generating €257.8 million—a four-fold increase—while the back-catalogue remained stable at €123.6 million, supported by titles like SnowRunner and Insurgency: Sandstorm.
The company projects EBITA of €55–60 million for the fiscal year, approximately doubling its previous best result from 2022/23, while simultaneously reducing net debt.
Q4 revenue saw a 7.1% decline to €54.8 million, despite contributions from recent launches including Warhammer 40,000: Space Marine 2 and Train Sim World 5.
Strategic growth is anchored in partnerships with brands such as Marvel, Mattel, Koei Tecmo, and Games Workshop to expand the pipeline of licensed and original IPs.
The FY 2025/26 slate includes new titles such as Memories in Orbit, Roadcraft, Ninja Gaiden: Ragebound, and Marvel Cosmic Invasion.
Leadership changes include the appointment of Geoffroy Sardin as CEO and Marion Dufour as Chief People Officer to oversee operations across six studios and over 600 employees.