REMEDYNasdaq HelsinkiElectronic Gaming & MultimediaIFRS · EUR

Remedy Entertainment Oyj

Remedy Entertainment is a globally renowned video game company known for creating immersive worlds and memorable stories. Founded in 1995 and headquartered in Espoo, Finland, the company has developed critically acclaimed franchises such as Alan Wake, Control, and Max Payne. Remedy also develops its own Northlight game engine, which powers its games. The company is listed on Nasdaq Helsinki and is expanding into self-publishing to leverage its intellectual property more effectively.

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Revenue59.5m EUR
+17.5 %y/y
Operating profit (EBIT)-14.9m EUR
−247.3 %y/y
EBIT margin-25.0%
−16.5 ppy/y
Net income-13.0m EUR
−262.3 %y/y
Free cash flow-9.8m EUR
+31.7 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-40-200204060m EUR2021: 45 m EUR2021: EBIT 11 m EUR20212022: 44 m EUR2022: EBIT -0.56 m EUR20222023: 34 m EUR2023: EBIT -29 m EUR20232024: 51 m EUR2024: EBIT -4.3 m EUR20242025: 60 m EUR2025: EBIT -15 m EUR2025TTM 2026: 52 m EURTTM 2026: EBIT -19 m EURTTM52-19
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
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Business

Share of revenue
Game Development70 %

Includes development of video games for own and partner franchises.

Royalties10 %

Royalties from game sales after recouping development costs.

Game Engine Licensing10 %

Licensing of the Northlight game engine to other developers.

Self-Publishing10 %

Publishing games developed in-house to retain more revenue.

Customers

Remedy Entertainment serves a diverse customer base, primarily consisting of gamers who seek immersive and story-driven experiences. The company's games appeal to both casual and hardcore gamers, with a strong following among fans of narrative-rich and visually stunning games. Additionally, Remedy collaborates with publishing partners for its partner franchise games, where the partner handles distribution and marketing. With its move towards self-publishing, Remedy aims to directly reach its audience and retain more control over its intellectual property.

Casual Gamers

Purchase games for entertainment and immersive experiences.

Hardcore Gamers

Seek challenging and narrative-rich gaming experiences.

Publishing Partners

Collaborate on distribution and marketing of partner franchise games.

Game Developers

License the Northlight game engine for development purposes.

Strategy

Remedy Entertainment's strategic priorities include expanding its game franchises and moving towards self-publishing to retain more control over its intellectual property. The company aims to launch one new game per year and focus on developing multiple game projects simultaneously. Strategic partnerships, such as with Annapurna Pictures, are key to expanding beyond traditional gaming into cross-media opportunities. Remedy's financial targets include doubling its 2024 revenue by 2027 and achieving a 30% EBITDA margin.

Self-PublishingMedium term

To retain control and increase revenue from game sales.

Franchise ExpansionLong term

To build long-term hit potential and brand value.

Strategic PartnershipsMedium term

To leverage cross-media opportunities and expand reach.

Geography

Remedy Entertainment is headquartered in Espoo, Finland, with an additional office in Stockholm, Sweden. The company employs a diverse workforce from 36 different countries, reflecting its global reach and appeal. While its primary market is in Europe, Remedy's games are distributed worldwide, with significant sales in North America and other key gaming markets. The company's strategic partnerships and self-publishing efforts are aimed at expanding its presence and influence in the global gaming industry.

Risks

Remedy Entertainment faces several risks, including the potential failure to meet game development timelines and quality standards, which could impact sales and royalties. The company's shift towards self-publishing introduces financial risks, as unsuccessful game launches could lead to significant losses. Additionally, Remedy's reliance on key personnel means that retaining skilled employees is crucial for operational success. The gaming industry is also subject to market volatility and geopolitical factors, which can affect business performance.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Self-Publishing Financial Risk1Game Development Failure2Talent Retention3Market and Geopolitical Volatility4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Self-Publishing Financial RiskImpact: CriticalLikelihood: High

    Unsuccessful launches could result in losses.

  2. Game Development FailureImpact: HighLikelihood: High

    Could lead to lower sales and royalties.

  3. Talent RetentionImpact: HighLikelihood: Medium

    Loss of key personnel could hinder operations.

  4. Market and Geopolitical VolatilityImpact: MediumLikelihood: High

    External factors could impact business performance.

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Accounting

Judgemental items
Revenue Recognition

Timing and recognition affect financial results.

Impact: high

Currency Fluctuations

Affects international sales and financial results.

Impact: medium

Development Cost Capitalization

Impacts financial health and profitability.

Impact: high

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Last updated: 24/09/2026

Remedy Entertainment Oyj (REMEDY) Revenue, Earnings & Financials 2025 – Clarifo