Road Kings
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Pullup Entertainment 2025/26 Full-Year Earnings
Pullup Entertainment’s full-year earnings for the 2025/26 fiscal year, ending March 31, 2026, reflect a period of strategic transition and financial recalibration.
- Pullup Entertainment reported annual revenue of €281.4 million for the 2025/26 fiscal year, representing a 27.8% decrease compared to the previous year.
- The company achieved an adjusted EBIT of €12.6 million while recording a net loss of €12.9 million for the period ending March 31, 2026.
- Back catalogue sales reached a record €189 million, accounting for 67% of total annual revenue as the company shifts toward recurring income streams.
Annual Financial Report: 2025-2026
PULLUP Entertainment’s 2025-2026 fiscal year was defined by a strategic transition toward a federated holding company model, characterized by significant financial restructuring and a pivot toward long-term, recurring revenue.
- PULLUP Entertainment reported a net loss of €45.1 million for the 2025-2026 fiscal year, driven by a 28% revenue decline to €281.4 million and a €29.1 million impairment charge on Dotemu and other assets.
- The revenue contraction was primarily attributed to the lack of a major blockbuster release comparable to the previous year's Warhammer 40,000: Space Marine 2.
- The company achieved a record €189 million in back-catalogue performance, validating its strategic pivot toward live-service content and a diversified portfolio of AA and indie titles.
Pullup Entertainment 2026/27 First-Quarter Revenue
Pullup Entertainment recorded €44.4 million in revenue for the first quarter of the 2026/27 fiscal year, representing a 44.0% decrease compared to the same period in the previous year.
- Pullup Entertainment reported €44.4 million in revenue for Q1 2026/27, a 44.0% decrease compared to the same period last year.
- The revenue decline was driven primarily by a sharp drop in new release performance, which fell from €18.6 million in Q1 2025/26 to €1.9 million.
- The company’s back catalogue remained resilient, generating €39.3 million in revenue, nearly matching the €39.4 million recorded in the prior year's first quarter.
PulluP Entertainment FY25 Earnings Release
PulluP Entertainment reported full-year earnings for FY 2025/26, ending March 31 2026. Revenue fell 27.8% to €281.4 million, largely due to a sharp decline in new-release sales (down 68% to €82.3 million).
- PulluP Entertainment reported a 27.8% revenue decline to €281.4 million for FY 2025/26, driven by a 68% drop in new-release sales to €82.3 million.
- The company recorded a net loss of €12.9 million and an adjusted EBIT contraction of 79% to €12.6 million, while operating cash flow plummeted from €52.1 million to €6.5 million.
- Back-catalogue revenue grew 52.9% to €189.0 million, now accounting for 67% of total sales as the company shifts focus toward recurring revenue and live-service operations.
PulluP Entertainment Q4 FY25 Revenue Report
PulluP Entertainment’s fourth-quarter revenue report for fiscal year 2025/26 outlines a period of strategic transition characterized by a shift toward recurring revenue streams and a recalibration of financial expectations.
- PulluP Entertainment reported full-year revenue of €281.4 million, marking a 27.8% decline compared to the previous year due to the absence of Warhammer 40,000: Space Marine 2.
- Back catalogue revenue reached a record €189.0 million, growing 87.2% in Q4 and now accounting for 67% of the company's total annual revenue.
- The company lowered its fiscal year 2025/26 adjusted EBIT guidance to a range of €10 million to €15 million and suspended all previously communicated financial targets for 2026/27.
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