Remedy Entmt Oyj (RMDEF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, dear Remedy investors, welcome to the webcast for Remedy's second quarter and the first half of 2025. My name is Aapo Kilpinen from Remedy's investor relations. Joining me today are Remedy's CEO Tero Virtala and Remedy's CFO Santtu Kallionpää. Tero will be going over the business review for the quarter and then Santtu will dive deeper into the financials. We'll end with the outlook for the year, and then we'll move towards the Q&A session. But without further ado, Tero, please, the stage is yours. Thank you, Aapo. So, welcome everyone, also on my behalf. Let's first have a look at our second quarter highlights. Our revenue was 16.9 million euro, which increased by 63.5% from a year ago. Also, related to the comparison period, both EBITDA and EBIT improved. EBITDA was €4.2 million positive, but overall, the second quarter was loss-making, EBIT being €0.5 million negative. Gas flow from our operations was €3.1 million positive. As a key event in this quarter, in June, we self-published and launched FBC Firebreak. FPC Firebreak naturally being the key event, let's go through that in a bit more detail. As a reminder to everyone, FPC Firebreak is a three-player cooperative first-person shooter set in the world of Control. It's our first self-published game and also our first multiplayer game. The game is available on PC, PlayStation 5 and Xbox Series X and S, also on the consoles available on the subscription services. The game launched approximately two months ago on June 17th and has now been out since that. The launch overhaul succeeded technically, reaching over one million players in its first 10 days. However, consumer sales-wise, the launch was disappointing. We'll soon go through some of the key findings we had right after launch, but in shor...