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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.
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Q4 2025 earnings summary10 Feb, 2026

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.

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