PULLUP Entertainment's FY 2025/26 Fourth-Quarter Revenue Report

PULLUP Entertainment has reported revenue of €84.0 million for the fourth quarter of fiscal year 2025/26. The company's annual revenue reached €281.4 million, marking a 27.8% decline from the previous year which had notable releases such as Warhammer 40,000: Space Marine 2. Despite this, the back catalogue revenue showed impressive growth, rising by 87.2% in the fourth quarter and totaling €189.0 million for the year—nearly three times that of FY 2022/23.

New releases contributed €27.0 million in the fourth quarter but fell short of expectations. However, the continued success of titles like Absolum and Roadcraft bolstered overall performance. While some projects underperformed, strong cost management and selective investments are guiding the company forward.

Looking ahead, Adjusted EBIT is now projected between €10 million and €15 million, with net debt anticipated to range from €85 million to €90 million as of March 31, 2026. The company emphasizes its focus on visibility, cash generation, and maintaining a robust balance sheet.