Remedy Entertainment’s Q3 2025 financial report paints a sobering picture for the Finnish developer, as it grapples with underwhelming performance from its co-op title FBC: Firebreak, a leadership transition, and a strategic recalibration across its portfolio. Despite growth in royalties and game sales, the studio posted an operating loss of €16.4 million (approximately $17.4 million USD), with revenue down 32% to €12.2 million (around $13 million USD).
The primary drag on Remedy’s Q3 was FBC: Firebreak, its first foray into multiplayer co-op. Although technically successful across platforms, the game failed to meet commercial expectations. Even after its first major update late in the quarter, sales improved only marginally. Remedy responded by recognizing a non-cash impairment of €14.9 million (~$15.8M USD), writing down capitalized development costs and publishing rights.
Development resources have since been reallocated to other titles, though Remedy continues to support Firebreak in hopes of long-term sales recovery. The publishing team’s experience with Firebreak is expected to bolster future self-published releases.
🧭 Leadership reshuffle: Virtala steps down, Mäki steps up
In the wake of Firebreak’s performance and the revised 2025 outlook, CEO Tero Virtala stepped down after nine years at the helm. Remedy co-founder and Chief Product Officer Markus Mäki was appointed interim CEO, relinquishing his role as chairman. Henri Österland was elected as the new chairman of the board.
Mäki acknowledged the financial disappointment but emphasized Remedy’s resilience:
“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.”
Despite the overall downturn, Remedy saw strong increases in game sales and royalties, particularly from Alan Wake 2 and Control. Alan Wake 2’s introduction to the Chinese market yielded “encouraging initial results,” while other titles in the franchise continued steady sales. Control also benefited from subscription service agreements and ongoing global expansion efforts.
Remedy’s strategic buyback of Control’s rights in 2024 has enabled the studio to explore new markets beyond the West, aiming to grow the franchise’s global footprint.
What’s next: Control 2, Max Payne remakes, and a mystery project
Looking ahead, Remedy reaffirmed that Control 2 and the Max Payne remakes are in full production. A third, unannounced title is currently in the proof-of-concept stage. The studio remains committed to expanding its established franchises while cautiously exploring new IPs.
“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,” Mäki said.
Remedy’s Q3 2025 results reflect the volatile nature of game development, especially when venturing into new genres. While Firebreak’s stumble has prompted financial and leadership recalibrations, the company’s confidence in its creative pipeline and franchise strategy suggests a long-term vision still intact. For creators and strategists like Jesús, this moment offers editorial fuel to explore the risks of multiplayer pivots, the value of IP ownership, and the evolving role of subscription models in sustaining legacy titles.
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