Remedy’s third quarter revenue surged by 226% following the September 24 launch of Control Resonant, which CEO Jean-Charles Gaudechon called “a defining milestone for the company.”
The game’s physical release occurred after the financial review period, on October 15. Since then, Resonant has sold over one million units, making it Remedy’s fastest-selling title to date.
The numbers
- Revenue: €39.6 million (up 226%)
- Operating profit: €0.6 million (compared to a €16.4 million loss in the same quarter last year)
The highlights
Remedy’s third quarter revenue tripled, driven by preorders of Resonant and its first seven days of sales.
The US represented nearly half of Resonant’s PC and console sales. On PC, Chinese-speaking regions and the UK ranked second and third. On console, the UK, Canada, and Brazil ranked second, third, and fourth, respectively.
Internal data from Remedy indicated that 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.
Remedy noted that the game’s outstanding wishlists total 2.4 million, “providing a substantial potential audience for the future.”
2019’s Control also benefited from Resonant’s successful launch, with sales exceeding “both the comparison period and the first two quarters of the year.”
Remedy described the Alan Wake franchise as having “a quieter quarter,” but noted that Alan Wake 2’s capitalised development costs are now fully depreciated.
Game sales and royalties accounted for most of Remedy’s Q3 revenue, totaling €35 million, up from €6 million in the same period last year.
Development fees from the Max Payne 1 & 2 remake and the final development fee accrual for Resonant under its agreement with Annapurna totalled €4.3 million.
Remedy stated that, as it now self-publishes its titles, it directly incurs royalty expenses and platform fees. Royalty expenses, which include Annapurna’s share of Resonant’s revenue, will “decrease once the initial investments have been recouped.”
It also noted that following Resonant’s launch, it “began depreciating the game’s capitalised development costs, and marketing spend peaked around the launch.”
Remedy CEO Gaudechon said the developer’s 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,” said Gaudechon.
“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.”