contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


remedy-write-downs-and-contract-negotiations

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Atte Riikola

Remedy Entertainment is a game developer. Its operations are primarily focused on the development of action games, with a particular focus on 3D technology. Examples of games that the company has developed include several different versions of Alan Wake, Max Payne, and Control. Remedy also develops its own game engine and tooling technology that powers many of its games. The company was founded in 1995 and is headquartered in Espoo, Finland.

It seems quite clear that both characters are in the game and are related to the story. The open question is whether both are playable. It’s possible, but nothing yet, in my opinion, indicates that.

Unsurprisingly, some parts of the Internet are of the opinion that changing the main character is a mistake and the game is now ruined. From an investor’s perspective, it is desirable that these potential buyers, behaving like stubborn toddlers, do not constitute a very large portion of the target audience. I wouldn’t be surprised if this game also featured two main characters, like Alan Wake 2. Naturally, even that is considered blasphemy by some.

Let’s make a separate poll to see if it works this way   Control Resonant track sales by the end of 2026  Under 0.5M 0.5M - 0.99M 1M - 1.49M 1.5M - 1.99M 2M - 2.49M 2.5M - 2.99M 3M - 3.49M 3.5M - 3.99M 4M - 4.49M 4.5M - 4.99M Over 5M      0 äänestäjää

Very much along the same lines. This increasing probability of momentum is further strengthened when examining the trend in the number of Nordnet owners based on statistics.  After the release of Firebreak, the decrease in the number of owners has accelerated right up to this TGA. I don’t know if the owner count hasn’t updated, but according to current statistics, no new owners were added even on Friday. I consider it likely that as we get closer to the release, new owners will start flowing in again. Another thing an investor should probably outline for the 2026 momentum is what the current sentiment’s expectations are for the game’s sales, e.g., for 2026 and for the first 12 months. The release of Control Resonant can now very likely be expected between September and October, before the GTA6 release. This would mean approximately 4-2 months of sales time for 2026. Alan Wake 2 sold 1M units on Epic+console marketplaces in 2 months two years ago. Based on these frameworks, let’s set up a poll again so we can somewhat outline what the forum expects for Control Resonant’s sales based on what has been seen so far.   Control Resonant sales in 2026  Under 0.5M units 0.5 - 0.99M units 1M - 1.49M units 1.5M - 1.99M units 2M - 2.49M units 2.5M - 2.99M units 3M - 3.49M units 3.5M - 3.99M units 4M - 4.49M units 4.5M - 4.99M units Over 5M units      0 äänestäjää      Here is a good graph produced by @Akee showing Remedy’s reported previous game sales based on copy count. Edit. The poll doesn’t seem to be working. I’ll add the poll once I learn how to use this updated system. Edit2 Is the poll creation broken? This is what it looks like on my end

Control: It’s now just over a day since the first trailer for Control: Resonant was released. I took a closer look at the game’s reception, especially comparing its Steam wishlists. Remedy made an excellent trailer at the right time and place. However, blunders were not avoided as Remedy messed up with its Steam page, which only went online about 15-30 minutes after the trailer. This might have cost some wishlisters, as a few clearly less-known IPs trended better in Steam wishlist statistics for the first half-day. Resonant, however, picked up its pace and improved its rankings. More on this soon. The trailer was 3 minutes long, preceded by a 1.5-minute live segment on stage. Rumors suggest a 3-minute trailer slot cost over $1M USD at this year’s TGA. Was it worth it? Let’s see. Wishlists: Resonant vs. Firebreak Based on the data I collected, Firebreak’s Steam wishlist ranking on 16.6.2025, i.e., the day before release, was 128. A wishlist estimate for the release day is not available, but @Hasty linked these statistics 2 weeks before release:  My recollection is that around its release, Firebreak’s wishlists were around 300k, Control: Resonant surpassed Firebreak’s launch-time wishlists within 24 hours of its announcement. Resonant likely already has over 300 thousand wishlisters on Steam. With consoles included, the number is probably over half a million. Gamalytic or similar 3rd party data for Resonant is not yet available.   Source: SteamDB Steam follower comparison will only make more sense a bit later, as they update slower initially, but it seems that Resonant will surpass the original Control’s announcement week during the comparison period (11,194). It’s important to note here, of course, that the original Control had already won several GOTY awards from IGN, among others, by this point (August 2019) and was already familiar to players through that. Wishlists: Resonant vs. other TGA announcements Okay, Firebreak was a complete flop, so comparing to it doesn’t say much. However, the trailers garnered over a million views on YouTube within 24 hours. So, it can perhaps be said that Resonant appears to be Remedy’s biggest announcement to date. On the other hand, if this were not the case, the investment story would be in great difficulty. So what does a Steam wishlist rank of 119 mean at this stage? Is it good or bad? I listed the games from Steam’s TGA page “Just Announced” section and compared their wishlists now, about a day after TGA.   Source: Today’s data from SteamDB, quickly visualized in Google Sheets Also, in SteamDB’s Wishlist activity, Resonant is currently in a good position, ahead of, for example, Clair Obscur, which won 9 GOTY awards.  AAA Market and TGA Big announcements like Star Wars: Fate of the Old Republic and Divinity are somewhere far, far in the future and not even wishlisted yet. Of course, previously announced AAA games like RE9 gathered some interest, but internet attention has fortunately mostly focused on these new announcements. As can be seen from the image above, there were hardly any big AAA-IPs among these new announcements. Only Warhammer and Tomb Raider. Is the long-standing aversion to AAA in the AAA sector, which I have written about before, finally starting to show, after years and years of industry layoffs and unlisted Venturecap investors? If so, this bodes well for Remedy until the end of the decade. Remedy invested during the COVID hangover while others were laying off, writing down, and divesting. Be that as it may, TGA 2025 was, in my opinion, the perfect time for Resonant’s announcement. The trailer had a high production value, Northlight was very distinctive from all other UE 5 fluff. It also seemed to resonate (hehehe) with both Control/RCU fans and new players. Summary  Resonant is likely Remedy’s best announcement to date in terms of both visibility and wishlists. Resonant already surpassed Firebreak’s wishlists within 24 hours and is second in the competition of new TGA announcements, after Total War: Warhammer. Personally, based on these initial metrics, I believe that Resonant will be, or at least has a good chance of being, among Steam’s TOP 10 most wishlisted games around its release. The distribution channels are in order this time. Now, all that’s needed is a good game.

Hello to the thread. I’ve also been a long-time Remedy bear, but I took a big position on this last Friday for under 16e. Not investment advice, but in my opinion, it now seems unlikely to lose money at that price point within a year. The drivers are the upcoming Control release and Max Payne Remake, which has been in development for a long time. It’s easy to assume it will be released by 2027 at the latest. This means two major game releases for the next two years, which could be Remedy’s best years. Alan Wake 3 possibly in 2029, which is still a long way off. Looks good. However, it wasn’t just the changed development pace that triggered a buying effect in me, but it certainly supported the decision to buy this. The biggest reason, of course, was the trailer for Control Resonant, which was AWESOME! Remedy hasn’t particularly shined with its trailers before, but now it looked like something had been learned or skilled people had been hired. Of course, a trailer doesn’t yet tell anything about a game’s success, but as a player myself, it piqued my interest.  We’ve moved away from the ‘boring’ office environment. New playable character (male) New gameplay mechanics (melee) New enemies (hopefully more and many) The trailer and music strongly reminded me of Souls and Witcher games Finally a Steam release  If there’s one thing to nitpick, it’s the smoke effect on enemies that bothers me personally  When we start to grasp the game’s sales, I see more opportunities than threats in Resonant. Control fans will likely buy this anyway, and if marketing succeeds this time, meaning if they manage to create similar trailers and show interesting gameplay in the future before release, then there’s potential for a big success here. Everything can still go wrong if it’s released at the same time as GTA, but I think people at Remedy’s office are aware of the situation. (hope so)

Great trailer and the hype started nicely. Hopefully, the Remedyverse is hammered with a customizable sledgehammer into the black hole at the beginning of the trailer, and after Max Payne, we get something other than smoke orcs in dim lighting. Hopefully, the gameplay is polished to perfection here, and the story is left in the background. Remedy knows how to develop a great world, but for my taste, it gets so out of hand that at some point, I lose interest. Especially in Control. The AW2 story kept my interest, but the scariest part was the clunky gameplay in action sequences. Resonant was a positive surprise, but I wasn’t fully enthusiastic because it’s set in the Remedyverse’s Control world and isn’t its own separate story.

Remedy Entertainment

The clean slate launch of Kestrel and a higher-than-expected cost structure in preliminary Q4 figures resulted in significant negative changes to our earnings forecasts. We speculate that the postponement of the financial statements due to publishing contract negotiations is related to Digital Bros' financial challenges, which may also allow Remedy to realize greater royalty potential by self-publishing Condor/Control 2 and making additional investments.

<p>The clean slate launch of Kestrel and a higher-than-expected cost structure in preliminary Q4 figures resulted in significant negative changes to our earnings forecasts. We speculate that the postponement of the financial statements due to publishing contract negotiations is related to Digital Bros' financial challenges, which may also allow Remedy to realize greater royalty potential by self-publishing Condor/Control 2 and making additional investments. The potential of future games is still heavily priced into the stock and the risk/reward is not sufficient.</p> 

	2022	23e	24e
Revenue	43.6	33.9	67.2
growth-%	-2.5 %	-22.2 %	98.3 %
EBIT (adj.)	-0.6	-28.7	9.9
EBIT-% (adj.)	-1.3 %	-84.6 %	14.8 %
EPS (adj.)	-0.13	-1.71	0.59
Dividend	0.10	0.10	0.10
Dividend %	0.5 %	0.6 %	0.6 %
P/E (adj.)	neg.	neg.	27.9
EV/EBITDA	126.5	neg.	12.9

Remedy: Write-downs and contract negotiations

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Key Estimate Figures06.02.2024

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