The remakes of Max Payne and Max Payne 2 have make advancements towards “major development stages” across several key areas, Remedy Entertainment CEO Tero Virtala has revealed during the company’s newly-published Business Review January— March 2025.
Virtala confirmed the Max Payne 1 & 2 Remake is in full production and making “great progress,” while Control 2 shifted into full production back in February 2025 and as such is “tracking well toward its next milestone.” A release date for both projects has yet to be announced.
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In the first quarter of 2025, Remedy’s revenue increased by 24.1% from the comparison period and was EUR 13.4 (10.8) million. Development fees and royalties increased. Development fees were driven by higher fees from Control 2 and Max Payne 1 & 2 remake while royalties increased with the sales of Alan Wake 2. After exceeding the 2 million units sold milestone at the end of Q4, Alan Wake 2 has continued to sell steadily and accrue royalties. In the first quarter the operating profit was EUR 1.3 million, improving by EUR 3.4 million from the comparison period. EBITDA was EUR 2.6 million, improving by EUR 3.8 million from the comparison period.
Elsewhere in the report, the CEO confirmed that Remedy returned to profitability during the first quarter of this year, which aligns with its outlook for 2025 “reinforcing the strength of our strategic direction.”
Back in February this year Remedy said that the Max Payne 1 & 2 remake project was ‘making steady progress,‘ having entered the full stages of production during the fourth quarter of 2024. As previously confirmed by the developer, the remakes of the much-loved action titles have a similar budget to Alan Wake 2.
[Source – Remedy Investors via Twisted Voxel]