The release of Senua's Saga: Hellblade II on the PlayStation 5 may have helped its developer make millions. Ninja Theory's financial statements for 2025 reveal a significant rise from 2024's numbers.

The game's creator reported net assets totaling almost $55.5 million (£41.7 million), up from approximately $48 million in 2024. The financial report also mentioned the game's successful release on PlayStation 5.

Hellblade 2 was not initially released on Sony's console, unlike its predecessor, which was a PlayStation exclusive. The creators released the second title on PC and Xbox in May 2024 and on PS5 on August 12, 2025.

The reason was Ninja Theory's acquisition by Microsoft in 2018 for a sum of $117 million. Therefore, the sequel became an Xbox Game Studios product instead.

For those unfamiliar, the Hellblade series has so far followed Senua's story. She is a warrior haunted by dark forces called the Furies, and her quest takes her to the depths of Hel to save her lover's soul.

Hellblade 2 became a sensation on Sony's latest-generation consoles upon release. It even had a PS5 Pro-enhanced version available. One could say Senua had been reunited with her original core audience, which explains the rise in Ninja Theory's net assets.

However, that's not all that the financial report revealed.

Hellblade 2's success propels Ninja Theory forward; a future project is in the works

In early 2026, Jez Corden, a reporter focused on Xbox-related content, suggested that Ninja Theory could be working on Hellblade 3.

The company's financial report for 2025 also mentions: "Following the successful release of Hellblade II on PlayStation 5, Ninja Theory will now concentrate on their efforts on future project work."

Gamers have been waiting to hear more about Project: Mara, a previously announced psychological horror game from Ninja Theory. However, there has been no information about the project since its announcement in 2020.

Hellblade III would not be a surprising move from Ninja Theory. The first two games reportedly sold millions of copies worldwide and helped turn the series into one of the studio’s best-known franchises.

A lot of players connected with Senua’s story because of its darker tone and visual style, even if some felt the gameplay itself was too limited compared to the cinematic focus.

Still, there is clearly interest in seeing where the character’s journey goes next.

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Written by

Prit Chauhan

Edited by

Pulkit Prabhav