Our Q3 2025 report shows clear positive momentum — rising EBITDA, strong VR performance, and steady progress in AI technologies
TL;DR: Carbon Studio Q3 2025 financial results show EBITDA growing for the third consecutive quarter. Strong VR performance continues with Project Hermes development, while AI technologies enter first commercial deployments.
We’ve published our Carbon Studio Q3 2025 financial results, and they continue the positive direction we’ve been building since the beginning of the year. Revenue remains stable, and improving margins together with better cost structure translate into another increase in EBITDA.
Q3 2025 Financial Results: Rising EBITDA
Q3 delivered another step upward. Consequently, EBITDA is higher than in Q2, and Q2 was already better than Q1. In simple terms: we’ve improved our operational efficiency quarter after quarter throughout 2025.
Compared to last year, the result is also clearly stronger. This confirms that our core profitability is rebuilding steadily.
For comparison, see our Q2 2025 financial report and Q1 2025 results.
VR Segment and Project Hermes Progress
We continue to expand our VR projects, including Project Hermes, developed in collaboration with Meta. VR remains a stable and reliable pillar of our business.
Additionally, the presentation of the new Valve Frame headset is worth highlighting. This launch could become an important moment for the VR market as a whole. It potentially increases platform activity and opens new opportunities for developers. This is a very promising signal for a studio with a decade of VR experience.
AI Technologies Moving Forward
AI-driven projects are becoming a bigger part of our work. We’re developing systems that better “see” and interpret 3D environments. Furthermore, these systems can communicate with users in real time.
In Q3, these technologies entered their first commercial integrations and early deployments. Our MAGOS project exemplifies this AI-focused direction.
R&D Transitioning to Production
Our ongoing R&D initiatives are now transitioning from research to implementation. These include VR optimization tools and systems that generate 3D scenes. As a result, these technologies will strengthen our production capabilities in the coming quarters.
Outlook and Next Steps
The combination of rising EBITDA, a strong VR segment, progress on Project Hermes, and maturing AI solutions gives us a solid foundation. Therefore, we’re well positioned for the months ahead. The trend from Q1 to Q3 is clear: our operational performance is strengthening.