Hello all the Inderes viewers. Remedy published Q3 results today, and here with me is Remedy CEO Jean-Charles Gaudechon. Welcome to this interview. JC. Thank you. You have had exciting times at Remedy with the Control Resonant launch. The game passed one million copies sold in October and in three weeks, so in general, how satisfied are you with the launch?

Very, very. I think it's incredible, and we need to remember the time it takes to make these games, how difficult it is now to land such a high-quality, ambitious game, and I think we should, no matter the numbers. We should also remember that this is just an incredible achievement, and seeing the reception from critics and even more from players has been quite incredible. In general, our goal was really to make the day one effort, and looking at the pre-sales and the seven days, it's a strong achievement.

Looking at the sales between platforms and regions, how was that, and were there any surprises too?

Say in terms of platform. It's a pretty healthy mix, as mentioned in earnings, with roughly fifty-fifty console-PC. I think that's good, with mostly obviously PlayStation 5 and Steam dominating. We're expecting that. Our campaign went of course, made towards that effect, and then quite surprised by how much the game, you know, kind of worked, or how successful it was in the United States, which holds half of the players. It's not an easy market at all, it is a hard market. Many people would like to have such results in the US, so that's what, as you know, we were pushing for. Changes speaking territories, that was a goal or target, so happy to see that coming in second, and then more we can do in that area than the UK as third one, roughly now, in terms of sales. So when you look at the global campaign, I think we made a global campaign. Again, as mentioned also in the Q&A of the earnings, I think there could be given a bit more, something we do have to work on.

There's still potential to improve. I have to pick up on what you mentioned, the wishlist numbers now are above 2.4 million, so that sounds pretty good.

Yes, it's been at 2.4 million. Outstanding wishlist is quite incredible, but also shows you you've done things right. It shows you that a lot of people, there's maybe too many games, not enough money, not enough time. We know that this is what happens in a very crowded window. So it shows potential on top of the sales in so far, which is indeed very exciting, because that's people that are waiting to see your next move that we can still convert, go after in many different ways. So yeah, very promising.

A little bit about the Q3 numbers. Can you say how the Control Resonant launch impacted now the new Q3 figures?

I think revenues, we kind of tripled revenue compared to last year. Similar period, which is excellent, and it was a profitable quarter. Obviously, something to take into account is the marketing spend now that as a self-publisher, we have to not just get the revenue, but we bear the responsibility of more costs also with a marketing campaign. So obviously that also shows with seven days of sales plus the pre-sales and the marketing spend. A quarter that some may have seen higher or lower depending, but that's obviously what we're trying to explain there. But again, we've been very smart, I think, about how we spend responsibly, the way we spend that marketing budget, which helped us to be in that Q3 play division, so to speak, and launching really good games. So that's how the quarter was impacted.

Talk about the marketing, and this is now the first big game for your own publishing operations, so how did it go from that perspective?

So again, when I came, people were like, well, it's a brand new self-publishing team, right? No, it's a team that actually learned a ton from previous experiences, right, from working for decades with and more exercise cases with external partners. Third-party publishing, so they learned a ton. So it's not a newbie team, right? It's a team that was already ready for battle. But yes, it was also the first product at this scale, so there was tension, but excitement and pressure, and the team has done extremely well through that. Really exciting on the campaign, both digital and out-of-home extremely well.

Now we know that Control Resonant is launched and it's selling well. So what are the next steps with the game, and where are all of the people working on the project going going forward?

First, still a core battle to fight into what we want. We have a lot of actions in order to keep pushing on sales and make this a great and successful one, so that's step one. And then building on that foundation, obviously now we have not just one game. It's actually a franchise now with something that we can build on, so very excited about the future for that franchise, but also for the studio. As you know, we have multiple projects in flight, so quite a bit to come on different fronts.

Observers have to try to ask something about the upcoming projects. Max Payne and the new project in the production readiness. Do you have anything to share about those?

I can share that it is going as planned. We're very excited, and Rockstar is very excited about how the project is evolving. I think, as you know, as a publisher, Rockstar will manage that communication, but I can say that I know there's exciting news coming down the road as soon as we can, but we'll make sure that everyone knows as soon as Rockstar and Remedy has anything to say.

Then, if you will, look at the future. You kept your outlook intact. So that's not a surprise, but if we look at 2027. We know that Remedy has financial targets there, so double the revenue compared to 2024 and over thirty percent EBITA margin, so how are you progressing towards that? Right, so.

What I can really tell you is these are the long-term targets, I think, that were set by the board in November 2024, I believe. So obviously, to this day, they hold, but the board will give another outlook, I think, in February 2027, and that's the time where these long-term targets will be either reassessed or adjusted now to the guidance for next year. So it's tough to say, or I can't comment on that. What I can say indeed is the current outlook is what holds for now.

Probably at some point, there's going to be some kind of strategy update because the strategy period is coming to an end.

Correct.

And.

We've got so much to do.

You have lots to do and new games coming, so yeah. That's all from me at this point, so thank you, JC, for this interview.

Thank you. Bye.