Atari ended its financial year on 31 March 2026 with revenue of €56 million, its highest figure in over a decade. More significant than the scale of sales itself is the improvement in the bottom line. Excluding Thunderful, the current operating profit stood at €0.9 million, compared with a loss of €0.8 million a year earlier, whilst net profit reached €0.1 million. Cash flow from operating activities rose to €11 million.
The improvement was driven by games, where sales rose by 67.7 per cent to €46.1 million. Revenue from hardware increased by 83 per cent to €7.3 million. The company is growing mainly through the revival of older brands, remasters and acquisitions. It increased its stake in Thunderful to 97 per cent, acquired Hipster Whale – the studio behind Crossy Road – for $29.3 million payable upfront, and acquired the rights to five games from Ubisoft, including Child of Eden and Grow Home.
This strategy is in line with the current state of the industry. The global games market grew to $201.6 billion in 2025, but the number of private equity and venture capital deals fell by 45 per cent. High production costs and more cautious investors are prompting publishers to rely on proven catalogues rather than funding further risky hits.
For Atari, this represents an opportunity for more stable revenues, growth in the mobile segment and better utilisation of its existing rights. However, it does not signify a full recovery for the group. Margins remain low, acquisitions require integration and funding, and Thunderful continues to generate losses. The key test, therefore, will not be further expansion of the catalogue, but rather turning nostalgia into a repeatable, cash-generating business.
