Remedy Revenue Falls 40% as CONTROL Resonant Passes 1.5 Million Wishlists

Remedy Entertainment has reported a significant decline in revenue for Q2 2026, but the Finnish studio is entering the final stretch before CONTROL Resonant with some of its strongest commercial indicators yet. Revenue for April through June reached €10.2 million, down 40% from €16.9 million during the same quarter in 2025, while CONTROL Resonant has now exceeded 1.5 million wishlists and Alan Wake 2 has passed 3 million lifetime sales.

According to Remedy's H1 2026 financial report, Q2 EBITDA fell to a €2.4 million loss compared with €4.2 million in profit a year earlier, while operating losses widened to €3.9 million from €0.5 million. Operating cash flow was negative €0.7 million compared with positive €3.1 million during Q2 2025.

The revenue decline is less straightforward than the 40% figure initially suggests. Q2 2025 included substantial revenue associated with the launch of FBC: Firebreak, including initial accruals from subscription service agreements. During Q2 2026, game sales and royalties declined from €9.5 million to €3.8 million, while development fees from Max Payne 1 and 2 Remake and CONTROL Resonant reached €6.4 million compared with €7.4 million a year earlier.

Remedy is also spending considerably more as CONTROL Resonant approaches release. Other operating expenses increased by €1.7 million during Q2 to €4.4 million, primarily because marketing activity for the game accelerated. The studio has already described CONTROL Resonant as its largest and most ambitious release to date, putting substantial pressure on the September launch to convert growing interest into sales.

That interest appears substantial. As of August 11, CONTROL Resonant has accumulated more than 1.5 million wishlists across platforms, while Remedy says preorders are showing healthy momentum. During the campaign period following the preorder announcement, Remedy's internal PlayStation analytics placed CONTROL Resonant among the 3 most preordered games in the United States, Germany, and Brazil.

CONTROL Resonant launches worldwide on September 24 for PC, PlayStation 5, and Xbox Series X and S. The sequel shifts toward faster combat with a heavier emphasis on melee action, a change Remedy says became one of the most positively received elements after media and creators gained extended access during Q2. The game received another major showcase during Summer Game Fest 2026, where Remedy presented its transformed Manhattan setting ahead of launch.

The original Control is also benefiting from the sequel's campaign. Remedy says sales momentum increased during Q2 as trailers, the release date announcement, and preorders renewed interest in the franchise. Control had already passed 6 million lifetime sales earlier this year, a milestone that accompanied Remedy's increasingly aggressive strategy to expand the series through internally controlled publishing. Our previous coverage of Remedy's Q1 2026 results highlighted how important CONTROL Resonant has become to the company's next stage of growth.

Alan Wake 2 has meanwhile crossed 3 million lifetime copies sold during Q2. Remedy says its sales continued at the expected pace and that royalties during the quarter came entirely from consumer purchases rather than platform deal accruals. The milestone reinforces the unusually long commercial lifecycle of Alan Wake 2, which initially took more than a year to recover its development and marketing investment.

For the entire first half of 2026, Remedy generated €23.3 million in revenue, down 23.1% from €30.3 million during H1 2025. EBITDA remained slightly positive at €0.5 million, while operating profit moved from positive €0.8 million to a €2.9 million loss. The company finished June with €29.6 million in cash and liquid investments and €11.8 million in net cash.

Remedy currently has 3 games in active development. CONTROL Resonant and the Max Payne 1 and 2 Remake are in full production, while an unannounced project has advanced to production readiness. Remedy has maintained its 2026 outlook and continues to expect both revenue and EBITDA to increase compared with 2025, making the commercial performance of CONTROL Resonant particularly important during the second half of the year.

A 40% revenue decline looks alarming in isolation, but Remedy's Q2 comparison includes an unusually strong period created by the launch accounting of FBC: Firebreak. The more consequential numbers are now attached to CONTROL Resonant. More than 1.5 million wishlists, strong PlayStation preorder positioning, growing sales of the original Control, and a coordinated global marketing campaign give Remedy a considerably stronger foundation going into September.

The risk is that Remedy is also placing more financial responsibility on a single launch. CONTROL Resonant is self published, heavily marketed, and positioned as the company's largest release yet. That gives Remedy greater control over the potential upside, but it also means September 24 will become one of the most important commercial tests in the studio's history.

Can CONTROL Resonant turn 1.5 million wishlists into Remedy's biggest commercial launch yet, or do you think the crowded September release window will limit its potential?