Revenue for the third quarter at Remedy surged, tripling to €39.6 million after the release of Control Resonant

Revenue for Remedy experienced a significant boost in the third quarter, jumping 226% subsequent to the release of Control Resonant on September 24. CEO Jean-Charles Gaudechon described the event as "a defining milestone for the company."

Though the title's physical edition launched on October 15, postdating the financial overview period, it swiftly surpassed one million sales, positioning it as Remedy's record-breaking best-seller.

Financial Overview

• Revenue: €39.6 million (226% increase)
• Operating profit: €0.6 million (compared to a €16.4 million loss in the prior year)

The revenue tripling was largely attributed to preorders and the initial week's sales of Resonant. In terms of sales location, nearly 50% of PC and console units were purchased in the United States. For the PC market, regions with Chinese-speaking populations and the United Kingdom followed. Console sales saw the United Kingdom, Canada, and Brazil trailing the U.S.

Data collected by Remedy indicated nearly half of the players engaging with Resonant were newcomers to the Control series. The developer remarked, "Reaching new players was a key goal for this game, and these early results indicate a growing audience for the franchise and for Remedy."

Currently, there are 2.4 million wishlisted copies of the game, suggesting a strong potential audience going forward. The successful launch of Resonant also positively impacted sales of the 2019 Control game.

Relatively quieter in the quarter was the Alan Wake franchise, though its second installment's capitalized development expenses have been fully written off.

Primarily, game sales and royalties formed the bulk of the company’s third-quarter earnings, reaching €35 million compared to €6 million the previous year. Meanwhile, development fees from remakes of Max Payne 1 & 2 and the completion fee for Resonant came to €4.3 million.

With Remedy now self-publishing, it manages its own royalty expenses and platform fees. It was noted that Annapurna's cut of Resonant’s revenue as royalty expenses is expected to wane after the recoupment of initial investments.

Upon the game's debut, Remedy began depreciating the capitalized costs associated with developing Resonant, and the peak marketing expenditure coincided with its launch.

CEO Gaudechon emphasized the company's strategy to increase player access to Resonant: "Splendid player feedback, significant market penetration, and a large base of outstanding wishlist holders provide a robust foundation for prolonged sales, underpinned by organic discoverability and targeted marketing efforts," he commented.

He added that prudent investments will be made to sustain the game's momentum: "We will invest with discipline, prioritising actions with a clear return. In the larger picture, with the sequel we have now established Control as a true franchise. Alongside the launch of Resonant, our other projects are proceeding in the pipeline. Sales over the remainder of the year will ultimately define our financial year 2026. Resonant gives us a solid foundation for growth."