Overview
- Revenue fell to €12.2 million in Q3 as the company booked a €14.9 million non-cash write-down tied to underperforming co-op title FBC: Firebreak.
- Interim CEO Markus Mäki said development resources have been shifted away from Firebreak, with limited ongoing support focused on features that add player value.
- Control 2 and the Max Payne 1&2 remakes remain in full production, while a third project is in a proof-of-concept phase.
- Remedy noted Annapurna will finance 50% of Control 2, following earlier development revenue recognized before that agreement.
- Leadership changed this month with Tero Virtala stepping down as CEO, Mäki taking the interim role, and Henri Österland becoming chairman, as Remedy targets doubled revenue and a 30% EBITDA margin by 2027.