Pullup Entertainment Reports Second-Best First-Half in the Group's History
– 2 min read
With revenue of €132.6 million for the first half of 2025/26, Pullup Entertainment (formerly Focus Entertainment) reports its second-best first half ever, behind only last year's results. New releases performed solidly, while the back catalogue remained strong.
French publisher Pullup Entertainment has reported its unaudited revenue for the first half of FY 2025/26, from April to September 2025. Revenue for the first half of the financial year came to €132.6 million, a 43% decrease compared to the first half of the previous financial year, which was anticipated due to the exceptional release of Warhammer 40,000: Space Marine 2 in September 2024. However, this remains the second-best result in the company's history. Second-quarter revenue totalled €53.3 million, down 73% from the previous year.
New releases generated €35.1 million, driven by the releases of Abyssus, Drop Duchy, Ninja Gaiden: Ragebound and Roadcraft. Train Sim World 6 was released at the end of the semester. To date, the Train Sim World franchise has generated over €100 million in consumer spending. Revenue from the back catalogue increased by 44.4% in the first half of 2025/26 to reach a group record of €93.7 million, highlighting progress in developing recurring business.
Geoffroy Sardin, CEO, commented: "We continue to roll out our strategy with discipline and efficiency. The record level of our back catalogue illustrates the progress made in the last few years to further develop our model's recurrence. This is built around the expertise of our teams, who are able to grow the value of our games several years after their release, and the success of our Live operations with SnowRunner, RoadCraft, Warhammer 40,000: Space Marine 2 and Train Sim World."
Pullup headed to gamescom with five announcements. Dotemu revealed the release date for Absolom (9 October 2025), and unveiled Battlestar Galactica: Scattered Hopes, which is set to be released in early 2026. Focus Entertainment announced Road Kings, scheduled for release in 2026, and presented John Carpenter's Toxic Commando, also scheduled for release in early 2026. Blackmill Games, a Pullup Entertainment studio, unveiled Gallipoli: WW1 Game Series, which is also scheduled for release in early 2026. Following gamescom, Road Kings and John Carpenter's Toxic Commando recorded the sixth and fifteenth highest increases respectively in Steam wishlists, according to GameDiscoverCo's ranking.
Pullup Entertainment has confirmed that it is on track to exceed its previous record performance from FY 2022/23 in terms of both revenue and adjusted EBIT for 2025/26. Geoffroy Sardin: "While the market remains very competitive, we continue to offer players highly targeted and differentiating experiences, with uncompromising gameplays. We therefore confirm our financial targets for 2025/26 and the coming years". The 2025/26 financial year will be driven by back catalogue growth and progress with Dotemu's revenue. Furthermore, the Group confirms its expectation of delivering growth in Adjusted EBIT over the 2026/27 and 2027/28 periods.
With over 600 employees across Europe and revenues of €390 million in 2024/25, Pullup Entertainment is a major player in the European video games and entertainment industries. The group operates through two publishing divisions: Focus Entertainment Publishing and Dotemu. The Group also comprises six development studios and one audiovisual structure: Dovetail Games (Train Sim World), Deck13 (The Surge), Blackmill Games (WW1 Game Series), Leikir Studio (Metal Slug Tactics), Douze Dixième (Shady Part of Me and Memories in Orbit) and Carpool Studio (a new live service IP). Scripteam is dedicated to adapting Pullup's licences for series and films.
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