France · Delayed Price · Currency is EUR Pullup Entertainment Société anonyme Earnings Call Transcripts
Fiscal Year 2026
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Q4 revenue rose 53% year-over-year, driven by a strong back catalog, but new releases underperformed due to intense competition. Adjusted EBIT guidance was revised down to EUR 10–15 million, with CapEx narrowed to EUR 70–80 million to support cash flow and deleveraging.
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Q3 saw strong back catalog and new IP performance, with nine-month revenue surpassing prior records. Q4 is expected to be the biggest ever, driven by new releases and continued live game momentum. Net debt is set to rise due to investments and Scrippteam.
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H1 revenue was EUR 133 million, with adjusted EBIT of EUR 14.2 million and net income of EUR 2.1 million. Strong new releases and back catalog performance support guidance for FY 2026 to exceed FY 2023 records, with H2 expected to outperform H1.
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Second-best first half ever with EUR 133 million revenue, driven by strong back catalog growth and successful new releases. Fiscal 2026 top line and adjusted EBIT are expected to surpass prior records, with continued momentum from upcoming titles and live operations.
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Q1 revenue surged 132% year-over-year to EUR 79 million, driven by strong new releases and back catalog performance. Guidance for FY2026 and FY2027 remains above prior records, with a EUR 1 per share dividend proposed and continued share buybacks supporting capital strategy.
Fiscal Year 2025
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Record revenue and profitability were achieved, driven by Space Marine 2 and strong new releases. Fiscal 2026 is expected to surpass previous records, with robust back catalog growth, a rich release lineup, and continued margin strength.