Remedy expresses dissatisfaction with its third-quarter results

Remedy has unveiled its financial results for the third quarter of 2025, showing a boost in game sales and royalties but a drop in revenue and profit.

Image credit: Remedy

Financial Figures

Revenue: €12.2 million, marking a 32% decline
Operating loss: €16.4 million, compared to €2.4 million loss in the previous year’s identical quarter

Key Insights

The third quarter for Remedy was notably affected by the underwhelming performance of its cooperative game, FBC: Firebreak. A major update towards Q3's end slightly improved its sales.

Consequently, Remedy revised its 2025 forecast and recognized a €14.9 million non-cash impairment related to the game's development and publishing rights.

Resources from Firebreak have been redirected to other projects in progress. However, the company continues to enhance the game with expectations of long-term sales benefits.

After these events, Tero Virtala resigned as CEO. Remedy's co-founder Markus Mäki is now interim CEO, having vacated his position as the board's chairman, with Henri Österland taking over that role.

Mäki highlighted that Firebreak's multiplayer aspect achieved technical success across platforms and stated that the publishing team acquired valuable skills for self-publishing future games.

Control and Alan Wake 2 | Image credit: Remedy

Revenue dropped 32% to €12.2 million compared to €17.9 million a year earlier, partly due to existing agreements for Control 2 with Annapurna. Annapurna is expected to co-finance half of the game's development following a recent deal.

Despite the revenue dip, sales trends improved thanks to subscription agreements for Firebreak and increased royalties from Alan Wake 2 and Control sales. The launch of Alan Wake 2 in China was promising, and the franchise overall enjoyed consistent sales.

Since acquiring Control's rights back from 505 Games, Remedy has been exploring new markets beyond Western territories for the game.

"Our brand-building efforts aim to enlarge our future market presence," said Mäki.

Looking forward, development on Control 2 and Max Payne remakes continues as planned. Meanwhile, a third unannounced project is in the conceptual phase.

Mäki stated, "Our primary focus remains on our key franchises, Control and Alan Wake, expanding them while preserving the ability to innovate new experiences as we have done for decades."