Alan Wake 2 still hasn't quite made its money back, according to Remedy's latest financials

rockpapershotgun.com:

Remedy's Alan Wake 2 has now "recouped most of its development and marketing expenses", CEO Tero Virtala has announced in a business review for January-September 2024. Speaking as somebody who would quite like there to be more Alan Wake games - or at least, moderately weird and pretty decent blockbuster singleplayer horror games - I am both pleased by this news and a little troubled that Remedy's eldritch forest fable (which came out in October 2023) has yet to break even.

The review notes that the reporting period falls before the release of Alan Wake 2's Lake House expansion and the Physical Deluxe Edition of the game. In other words, it's possible that those releases have helped Alan Wake 2 make up the difference since today's data was gathered.

The overall financial picture for Remedy seems to be heading in the right direction, i.e. upwards. Their revenue overall for July-September 2024 is up by 129% versus the same period a year ago, at 17.9 million Euros, resulting in an operating profit of 2.4 million euros.

Remedy have taken certain steps to shore up their books. Half of Control 2's development is being funded by Annapurna, in return for the rights to expand the Control and Alan Wake franchises into film and television. The company have also recently taken out a 15 million euro convertible loan agreement with Tencent. They expect their numbers to improve further by the time of their next financial report.

The report also has a few updates on Remedy's in-development projects. The recently revealed three-player Control spin-off shooter FBC: Firebreak will be a "mid-priced" game and is "in full production with a focus on iterating on the core loop and implementing more of the UI (user interface) for more player clarity based on playtesting feedback." The Max Payne 1 and 2 remakes they're developing with Rockstar are "making steady progress in full production".

And then there's Control 2, whose plot directions are hinted at by Alan Wake 2's Lake House