Remedy Entertainment has released its Q3 2025 financial report, revealing a challenging period for the Finnish game developer. This comes on the heels of significant leadership changes after their latest title, FBC: Firebreak, did not meet expectations. Earlier this month, Tero Virtala, who served as CEO for nine years, stepped down following these developments.
Financial Struggles Amidst Milestones
The third quarter of 2025 presented some troubling financial results for Remedy, coinciding with the company’s 30th anniversary. Revenue plummeted by 32% to €12.2 million, while the EBITDA was only €0.7 million. The operating profit took a serious hit, standing at a negative €16.4 million, with a profit margin of -135.1%. On a positive note, cash flow from operations reached €11.3 million.
Future Prospects and Strategic Goals
Despite recent setbacks, interim CEO Markus Mäki remains optimistic about the future. He assured stakeholders that ongoing projects are progressing well and expressed confidence in reaching ‘significant commercial success’ by the end of the decade. The company is heavily investing in its well-loved franchises, Control and Alan Wake, while also collaborating with Rockstar Games on the Max Payne 1&2 remake.
“Despite challenges with FBC: Firebreak, our other in-development projects are progressing according to plan. The majority of our effort goes into working with our established franchises – Control and Alan Wake – which we continue to invest in and expand into other media as part of our long-term strategy. In addition, we’re focused on the Max Payne 1&2 remake with Rockstar Games. While carefully balancing our product risk, we also need to retain the ability to create new experiences for our audiences, as we have for the past 30 years. We aren’t satisfied with our recent financial performance, but we remain confident in our ability to create great video games that resonate with players and which are commercially successful, leading us back to profitability.”
Targets and New Ventures
Remedy has set ambitious financial targets, aiming to double its revenue by 2027 and maintain growth beyond that point. The goal is to achieve an EBITDA margin of at least 30% by the same year. Projects like Control 2 and the remakes of Max Payne 1 and 2 are moving forward, with a new project also in the proof of concept phase. As Remedy focuses on its ‘Remedy Connected Universe’, this new venture is likely linked to either the Control or Alan Wake series.
Remedy Entertainment is determined to achieve strong commercial outcomes by 2030, focusing its resources on established franchises and new ventures.