French publisher and hardware manufacturer Nacon has posted its financial report for Q4 of the 2025-2026 fiscal year, confirming the restructuring of subsidiaries Kylotonn and Cyanide.
Nacon was not off to a great start to 2026: The French publisher and hardware manufacturer filed for insolvency in February, and subsequently postponed its Nacon Connect 2026 showcase from March to May. When it did take place, focus remained solely on what's to come regarding new titles and hardware - as you would expect.
Following this, Nacon posted its Q4 2025-2026 earnings on May 18, which also gave an update on the insolvency procedure. Overall sales revenue was down slightly compared to the same time span in 2024-2025, namely 3.8%, and 4.3% compared to the same 12-month period in the previous fiscal year.
Kylotonn & Cyanide To Be Restructured
Perhaps more interesting, however, is the outlook on how the company wants to reorganize itself following the insolvency filing. This includes restructuring of two subsidiaries, both of them development studios: Cyanide Studios, who are behind titles such as Styx: Blades of Greed, Blood Bowl 3, or the series of Pro Cycling Manager and Tour de France games, and Kylotonn (or KT Racing), known to racing game fans and sim racers for Test Drive Unlimited Solar Crown and the WRC series, are both affected.
Usually, this means redundancies to save costs - so while "restructuring" may sound neutral at first glance, it might be anything but for employees of either studio. Recently, Nacon has announced a new development team for its upcoming WRC title, and the new studio called "Grit Games" does feature a number of familiar faces from Kylotonn.
At the same time, the Commercial Court of Lille Métropole ordered the judicial liquidation (read: closure) of two further subsidiaries: SPIDERS, the studio behind the GreedFall series, and motion capture entity NACON TECH will be shuttered. According to the financial report, SPIDERS is "a video game development studio with no launch projects in the near future."
Despite this, Nacon is projecting a growth in sales from its back catalogue and that it will benefit from the release of the following titles, sorted by genre:
- Sport: Tour de France 26, Pro Cycling Manager 26
- Racing: Endurance Motorsport Series, MXGP 26
- Adventure: Cthulhu, The Mound, Edge of Memories
- Simulation: Hunting Simulator 3
Further updates on the company's future are expected once it releases its annual results for 2025-2026, which is scheduled for July 20, 2026.
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