Remedy Entertainment increased revenue and EBITDA in the 2025 financial year through rising game sales and royalties. With the release of Control Resonant in 2026, the outlook is positive: "We have all the ingredients to make this a successful year for Remedy."
Remedy Entertainment has published its business report for 2025 (January to December). Revenue increased by 17.5% to €59.5 million, EBITDA increased to €11.3 million (compared to €2.5 million in 2024), and operating profit (EBIT) decreased to -€14.9 million. The operating profit margin was -25.0% of revenue (2024: -8.4%). Full-year revenue and EBITDA increased, driven by rising game sales and royalties.
Interim CEO Markus Mäki: "Game sales and royalties kept on increasing during the fourth quarter of 2025 and formed almost half of the total revenue for Q4 2025, the major contributors being royalties from Alan Wake 2 and game sales of Control. Development fees were from Max Payne 1 & 2 remake and Control Resonant." Shortly after the 30th anniversary, Tero Virtala stepped down as CEO of Remedy Entertainment in October 2025, with Markus Mäki being appointed interim CEO. Following the reporting period, Jean-Charles Gaudechon was appointed CEO of Remedy Entertainment with effect from 1 March 2026.
In December, Remedy announced Control Resonant (codenamed Control 2). This action-adventure role-playing game sequel to Control (2019) is scheduled for release in 2026 and will be self-published. According to Markus Mäki, it is their most ambitious game to date. "Early reception to the announcement has been excellent. Player and community sentiment has been very positive, indicated by engaged fans and positive wishlist numbers. Our goal is to make the game a 'must-have day-one purchase' for the fans of Control and the action role-playing genre. The announcement at The Game Awards in December was a great kickstart to the ambitious global marketing campaign we have planned for Control Resonant," the interim CEO said.
Sales of Control were also boosted by the announcement of Control Resonant. The first game sold over one million copies in 2025. In 2025, Alan Wake 2 generated 'meaningful royalties', partly because it was one of the monthly games offered with a PlayStation Plus subscription in October, and partly because the game continued to generate steady royalties through unit sales. FBC: Firebreak will continue to receive 'smaller updates' after the major Rogue Protocol update in January 2026, but it seems that Remedy has not been able to significantly increase or rekindle interest in the title.
"After a few challenging quarters, Q4 was both positive and profitable. Our single-player games in the market performed well, and the announcement of Control Resonant was met with a great reception. For 2026, ensuring the successful launch of Control Resonant will be our top priority. Building on the traction from our announcement, we will be making significant marketing investments towards the title, which will also affect our near-term profitability profile prior to the launch of the game. We have all the ingredients to make this a successful year for Remedy." - Markus Mäki, Interim CEO
In addition to the post-launch development of FBC: Firebreak, Remedy Entertainment has three games in development: These are Control Resonant (full production) and a new project (proof of concept), as well as the Max Payne 1&2 Remake with publisher Rockstar Games (full production).
Remedy expects its revenue and EBITDA for the full year in 2026 to increase compared to the previous year. Markus Mäki discusses long-term business prospects: "We have two established own franchises, Control and Alan Wake, which are linked through the Remedy Connected Universe. Remedy will self-publish upcoming games, in which Remedy owns the IP. Growing and expanding the two franchises will be a key part of our future. In addition, we work with a partner franchise Max Payne, originally created by Remedy. By 2030, we aim to be a highly regarded creative studio with sustainable, significant commercial success. We have set ourselves the following financial targets: Double the 2024 revenue by 2027 with continued growth beyond this milestone and EBITDA margin of 30% by 2027 and maintain that minimum level throughout the strategy period."
