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Remedy (REMEDY) investor relations material
Remedy Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue was €12.2 million, down 32% year-over-year, mainly due to lower development fees after a one-time payment in Q3 2024 for Control 2.
EBITDA for Q3 was €0.7 million, down 89% from the prior year, and EBIT was -€16.4 million, impacted by a €14.9 million non-cash impairment for FBC: Firebreak.
Operating cash flow improved to €11.3 million in Q3, with cash reserves at quarter-end reported between €27.6 million and €36.5 million.
CEO and Chairman transitions occurred during or after the quarter, with Markus Mäki as interim CEO and Henri Österlund as Chairman.
Remedy celebrated its 30th anniversary in August 2025, with related marketing activations.
Financial highlights
Q3 2025 revenue: €12.2 million (down 32% year-over-year); FX-neutral change was -29%.
Q3 EBITDA: €0.7 million (down from €6.6 million in Q3 2024); EBIT: -€16.4 million, mainly due to the FBC: Firebreak impairment.
Year-to-date revenue: €42.5 million, up 8.9% from €39 million in Q1–Q3 2024.
Game sales and royalties accounted for 43% of total revenue year-to-date, up from 9% in the prior year.
Cash and liquid investments at quarter-end ranged from €27.6 million to €36.5 million.
Outlook and guidance
Revenue for 2025 is expected to increase from the previous year, but operating profit (EBIT) will remain negative and below last year.
Strategic targets include doubling 2024 revenue by 2027 and achieving a 30% EBITDA margin.
Confident in financial position and ability to fund ongoing projects due to strong cash reserves and pipeline.
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