Devolver Digital decides video games and publicly traded companies don't mix, announces plan to go private once again to save it some money and headache

August 7, 2026 - 01:20

Devolver Digital, the indie publisher known for games like Cult of the Lamb and the wacky Devolver Direct showcases, has decided that the public market is more trouble than it is worth. The company announced plans to take itself private, citing the costs and headaches of being publicly traded. The move is a reversal of its 2021 IPO, which was supposed to fuel expansion but instead brought endless quarterly pressure and compliance expenses.

The publisher said the decision was driven by a simple realization: chasing infinite growth for shareholders does not align with how it wants to make and release games. Public markets demand steady revenue and predictable hits, but Devolver thrives on weird, experimental projects that do not always fit that mold. The company also pointed to the administrative burden of SEC filings and investor relations, which it said drained time and money away from actual game development.

By going private, Devolver hopes to operate with more freedom and less overhead. The move will likely involve a buyback of shares from public investors, with the company returning to its pre-IPO structure. It is a notable step for a publisher that has always positioned itself as the anti-corporate face of gaming, even while playing the corporate game. Fans probably will not notice any immediate changes to its release schedule, but the long-term vibe might get even weirder, which is probably the point.