Remedy Q3 revenue triples to €39.6m on Control Resonant launch

Remedy's third-quarter revenue tripled to €39.6 million, up 226% year-on-year, following the September 24 launch of Control Resonant. CEO Jean-Charles Gaudechon called the game's launch "a defining milestone for the company."

The quarter also swung to profitability. Operating profit landed at €0.6 million, against a €16.4 million loss in the same quarter last year. That's a turnaround of roughly €17 million in twelve months, driven almost entirely by one release.

Where the money came from

Game sales and royalties carried the quarter, totaling €35 million — up from €6 million a year earlier, nearly a sixfold increase. Development fees added another €4.3 million, split between the Max Payne 1 & 2 remake and the final development fee accrual for Resonant under Remedy's agreement with Annapurna.

The physical edition of Resonant shipped after the financial review period closed, arriving October 15. Since then the game has sold more than one million units, making it Remedy's fastest-selling title to date.

Preorders plus the first seven days of sales drove the Q3 spike. The US accounted for nearly half of PC and console sales. On PC, Chinese-speaking regions ranked second and the UK third. On console, the UK, Canada and Brazil took the next three spots.

What does this change for the franchise?

Plenty, by Remedy's own data. Internal figures show nearly half of Resonant players were new to the Control franchise. "Reaching new players was a key goal for this game, and these early results indicate a growing audience for the franchise and for Remedy," the developer stated.

Outstanding wishlists sit at 2.4 million, which Remedy described as "providing a substantial potential audience for the future." The 2019 original also benefited: Control's sales exceeded both the comparison period and the first two quarters of this year.

Alan Wake had, in Remedy's words, "a quieter quarter" — but Alan Wake 2's capitalised development costs are now fully depreciated, closing one line of accounting drag on the balance sheet.

Self-publishing changes the cost structure

Because Remedy now self-publishes its titles, it directly incurs royalty expenses and platform fees. Royalty expenses include Annapurna's share of Resonant revenue, and Remedy said those costs will "decrease once the initial investments have been recouped." The studio also began depreciating Resonant's capitalised development costs after launch, while marketing spend peaked around release.

Gaudechon said the priority now "is to get Resonant into the hands of more players."

"Excellent player reviews, penetration in all our target markets and a substantial outstanding wishlist base give a solid foundation for the game's longer-term sales potential, supported by both organic visibility as well as our targeted marketing activities," he said.

"As with the launch, we will invest with discipline, prioritising actions with a clear return. In the larger picture, with the sequel we have now established Control as a true franchise. Alongside the launch of Resonant, our other projects are proceeding in the pipeline. Sales over the remainder of the year will ultimately define our financial year 2026. Resonant gives us a solid foundation for growth."

The signal to watch: Resonant's sales pace through the holiday quarter, which Remedy itself says will define its financial year 2026.