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Remedy (REMEDY) investor relations material
Remedy Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Full year 2025 revenue was €59.5 million, up 17.5% year-over-year, with Q4 revenue at €17.0 million, up 46.3%, driven by strong game sales and royalties, especially from Alan Wake 2 and Control.
EBITDA for 2025 was €11.3 million, with Q4 EBITDA at €3.9 million, and EBIT for the year at -€14.9 million due to a €14.9 million non-cash impairment for FBC: Firebreak.
Major events included CEO and chairman transitions, with Jean-Charles Gaudechon appointed CEO from March 2026.
Transition to self-publishing, securing full CONTROL franchise rights, and announcement of CONTROL Resonant for 2026 with positive early reception.
45% of annual revenue came from game sales and royalties, reflecting a strategic shift toward self-publishing.
Financial highlights
Q4 2025 revenue grew 46.3% year-over-year to €17.0 million, with EBITDA at €3.9 million and EBIT at €0.7 million.
Full year operating profit was -€14.9 million, impacted by a €14.9 million impairment for FBC: Firebreak.
EBITDA margin for 2025 was 19.1%, with operating margin at -25.0% for the year and 4.3% in Q4.
Cash and liquid investments at year-end were €29.4 million; net cash was €11.1 million.
Full year operating cash flow was €4.5 million, a 59% decrease from 2024.
Outlook and guidance
2026 revenue and EBITDA are expected to increase from 2025, with CONTROL Resonant's launch as a key driver.
Major marketing investments planned for CONTROL Resonant ahead of its 2026 launch, expected to impact near-term profitability.
Long-term targets include doubling 2024 revenue by 2027 and achieving a 30% EBITDA margin.
No major changes to strategy anticipated with the new CEO in the short to medium term.
- Annual game launches, self-publishing, and franchise growth target doubled revenue by 2027.REMEDY
CMD 20243 Feb 2026 - Revenue up 33.7%, Q2 up 16.2%, profitability improves, and key franchises advance.REMEDY
Q2 20241 Feb 2026 - Q3 2024 revenue up 129%, fueled by development fees, partnerships, and self-publishing shift.REMEDY
Q3 202417 Jan 2026 - Revenue up 49% in 2024; self-publishing and partnerships drive growth and profitability.REMEDY
Q4 20242 Dec 2025 - Revenue up 24.1%, profitability restored, and first self-published title launches in June.REMEDY
Q1 202528 Nov 2025 - Q2 revenue up 64% to EUR 16.9M; Firebreak launch underwhelms, but outlook stays positive.REMEDY
Q2 202523 Nov 2025 - Q3 revenue dropped 32% and a major impairment led to a sharp EBIT loss despite cash gains.REMEDY
Q3 202530 Oct 2025
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