Remedy Isn’t Satisfied with Recent Sales but Remains Confident and Aims for ‘Significant Commercial Success’ by 2030
Remedy Entertainment has released its Q3 2025 financial report, marking a challenging quarter for the Finnish studio best known for Alan Wake, Control, and Max Payne. The report follows the recent resignation of CEO Tero Virtala, who had led the company for nine years, and comes shortly after Remedy confirmed that its latest title, FBC: Firebreak, had underperformed commercially.
The financial results highlight a steep decline across key metrics.
Revenue decreased by 32%, dropping to €12.2 million from €17.9 million the previous year.
EBITDA fell to €0.7 million from €6.6 million.
Operating profit (EBIT) declined to €-16.4 million, compared to €2.4 million last year, resulting in an operating margin of -135.1%.
Cash flow from operations reached €11.3 million, up slightly from €8.0 million in the previous period.
Despite the discouraging figures, interim CEO Markus Mäki sought to reassure both investors and fans that the studio remains on track with its upcoming projects and long-term goals.
“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,” Mäki stated.
“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.”
Remedy’s leadership has set clear financial targets for the coming years, including:
Doubling revenue by 2027 compared to last year and maintaining continuous growth thereafter.
Achieving an EBITDA margin of at least 30% by 2027 and sustaining that level moving forward.
The studio’s most important projects are progressing steadily, with Control 2 and the Max Payne 1 & 2 remakes now in full production. Remedy also confirmed work on a new project currently in the proof-of-concept phase. Although details are scarce, the company’s focus on expanding its “Remedy Connected Universe” strongly suggests that the new title may take place within the same narrative world that links Alan Wake and Control.
Founded in 1995, Remedy recently celebrated its 30th anniversary, a milestone that underscores its long-standing reputation for blending cinematic storytelling with psychological depth. While the studio faces financial challenges, its confidence in the future remains intact, with leadership targeting significant commercial success by 2030 through its established franchises and continued innovation.
What do you think? Can Remedy recover and reach its ambitious 2030 goal, or are the challenges of modern AAA development too steep even for one of gaming’s most creative studios?
