Warhammer 40,000: Space Marine

PULLUP Entertainment 2024/25 First-Quarter Revenue

PULLUP Entertainment reported total revenue of €34.2 million for the first quarter of the 2024/25 financial year, representing an 11% decrease compared to the same period in the previous year.

• PULLUP Entertainment reported Q1 2024/25 revenue of €34.2 million, an 11% year-over-year decrease attributed to a lack of major new game releases.
• The company expects a return to revenue growth for the remainder of the fiscal year, driven by the September 2024 launch of Warhammer 40,000: Space Marine 2.
• Back-catalogue titles demonstrated resilience with 17% organic growth, supported by consistent content updates for franchises like SnowRunner and Insurgency: Sandstorm.

Pullup Entertainment Annual Financial Report CSR Report 2023-2024

PULLUP Entertainment, formerly known as Focus Entertainment, underwent a significant strategic and structural transformation during the 2023-2024 fiscal year.

• PULLUP Entertainment reported a consolidated net loss of €19.9 million for the 2023-2024 fiscal year, a sharp decline from the previous year's €7.3 million profit, despite maintaining stable revenue of €187.3 million.
• The financial downturn was primarily driven by the postponement of major titles like 'Warhammer 40,000: Space Marine 2' and a doubling of depreciation and amortization costs to €67 million.
• The company's back-catalogue performance was a key stabilizer, surging 89% to account for 66% of total annual sales.

Pullup Entertainment FY 2023/24 Annual Results

Pullup Entertainment generated €187.3 million in net revenue during the 2023/24 fiscal year, representing a 4% decline compared to the previous period.

• Pullup Entertainment reported €187.3 million in net revenue for FY 2023/24, a 4% year-over-year decline driven by the strategic postponement of major titles like Warhammer 40,000: Space Marine 2.
• The company’s back-catalog remains the primary financial driver, accounting for 66% of total annual revenue.
• Live portfolio games saw an 89% surge in earnings, highlighting a successful shift toward recurring revenue streams to offset base game sales volatility.

Pullup Entertainment Half Year 2022/2023 Results

Pullup Entertainment’s half-year results for the 2022/2023 fiscal period demonstrate a robust financial performance aligned with group expectations.

• Pullup Entertainment reported 65.5 million euros in total revenue for the first half of 2022/2023, driven by the launch of Teenage Mutant Ninja Turtles: Shredder's Revenge and the acquisition of BlackMill Games.
• EBITA grew by nearly 50% year-over-year to 10.9 million euros, while EBITDA reached 18.9 million euros, representing a 29% margin.
• The company invested 37.5 million euros into intangible assets for game development, signaling an accelerated commitment to its production pipeline.

Embracer Group Interim Report: Q3 2021/22

Embracer Group’s fiscal third quarter of 2021/22 reflects a period of aggressive expansion and structural transformation, characterized by a 135% surge in net sales to SEK 5,085 million.

Rapport Financier Semestriel 2021-22

Focus Home Interactive experienced a transformative first half of the 2021-22 fiscal year, characterized by a strategic shift toward internalizing development capabilities and strengthening its financial foundation.

• Focus Home Interactive underwent a significant structural pivot, raising €70.35 million in capital and securing a €140 million financing package to fund an aggressive acquisition strategy.
• The company acquired Streum On Studio, Douze-Dixièmes, and a 77.5% stake in Dotemu for €53.5 million, effectively increasing headcount and expanding its internal development capabilities.
• H1 2021-22 revenue declined 18% year-over-year to €85.1 million with net income falling to €5.5 million, largely due to pandemic-related delays and the underperformance of Hood: Outlaws & Legends.

Focus Entertainment: Half-Year 2021/2022 Results and Q3 Revenue

Focus Entertainment’s financial results for the first half of the 2021/2022 fiscal year, ending September 30, 2021, reflect a period of strategic transition characterized by significant corporate acquisitions and capital restructuring.

• Focus Entertainment reported 85.1 million euros in revenue for the first half of fiscal year 2021/2022, an 18% decrease compared to the previous year, with operating income at 7.3 million euros.
• Year-to-date revenue reached 122.3 million euros by the end of Q3, driven by the console release of 'Insurgency: Sandstorm' and consistent back-catalogue performance.
• The company successfully executed a 70.4 million euro capital increase in May 2021, which more than doubled total equity to 142.6 million euros.

Pullup Entertainment FY 2024/25 Earnings Results

Pullup Entertainment’s fiscal year 2024/25 earnings report highlights a period of significant financial recovery and operational growth.

• Pullup Entertainment achieved record financial performance in FY 2024/25, with revenue reaching €390.0 million (a 108% increase) and adjusted EBIT rising 112% to €60.3 million.
• The company significantly improved its balance sheet by reducing net debt from €132.6 million to €70.1 million while generating €52.1 million in operating cash flow.
• Growth was primarily driven by major title launches, specifically Warhammer 40,000: Space Marine 2, which surpassed 7 million unique players, and the successful debut of Roadcraft.

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.

2025/26 Third-Quarter Revenue: Solid Performance from Back Catalogue, Live Games and Absolum

PULLUP Entertainment’s third-quarter revenue report for fiscal year 2025/26 highlights a strategic shift toward recurring revenue through a robust back catalogue, despite a year-over-year decline in total quarterly revenue.

• PULLUP Entertainment reported €64.8 million in Q3 revenue, a 36% year-over-year decline attributed to the lack of major releases compared to the previous fiscal cycle.
• The back catalogue segment grew by 41% in Q3 and now accounts for 69% of total group revenue, driven by sustained engagement in titles like Warhammer 40,000: Space Marine 2 and SnowRunner.
• Despite the quarterly decline, the company has already surpassed its total revenue record from the 2022/23 fiscal year within the first nine months of 2025/26.

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.