9th Feb 2026 13:36
(Alliance News) - Devolver Digital Inc on Monday said its performance in 2025 showed an improvement over 2024, with growth in revenue and adjusted earnings.
The Austin, Texas-based video game publisher said revenue in the second half of 2025 was "strong" and inline with expectations, helped by the timing of platform deals and the Steam publisher sale in September.
The company said it met guidance of more than USD100 million in full year revenue. Underlying adjusted earnings before interest, tax, depreciation and amortisation pre-impairments are expected to reach "double-digit millions", marginally higher than consensus expectations.
It said the initial unaudited estimate of impairments for released title underperformance is around USD3.5 million.
Devolver Digital said it has "continued its disciplined approach to cost control" as it said 2025 operating expenses fell slightly compared to 2024. The firm said it has "robust" balance sheet with USD36.4 million net cash at the end of December.
Devolver added that 2026 has "started strongly" with Quarantine Zone: The Last Check beating expectations in the first weeks of release.
"We are pleased to have delivered revenues that grew year-over-year, in a gaming market that was flat overall, and met our guidance in 2025, driven by a string of successful new launches by Devolver and its subsidiary companies," said Chief Executive Officer Harry Miller.
"The calculated strategies that we began three years ago, including an improved greenlight process, in-house developed technologies, cost cutting, improved store management, among others, continue to lead us out of the trough of 2023. The continued adoption and maturation of these strategies, along with cycling through products initiated prior to such efforts, give us visibility to reaching higher sustainable profitability in the coming years."
Shares in Devolver Digital were flat at 25.50 pence on Monday afternoon in London.
By Michael Hennessey, Alliance News reporter
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