Devolver Digital, a video game publisher known for titles like Fall Guys and The Outer Worlds, has left the stock market and is now a private company once again. This decision followed a shareholder vote on September 8, in which 90% of shareholders supported the move to reestablish Devolver as a private entity. The company’s founders—Harry Miller, Graeme Struthers, and Nigel Lowrie—now collectively own 33% of the company. Devolver cited concerns about its stock price not accurately reflecting its actual value. Since its initial public offering, the company’s shares had lost about 90% of their value. The management explained that as an independent game publisher and developer, its financial performance is closely tied to the release schedule and scale of each game it publishes. Because game development can take unpredictable amounts of time and vary greatly in cost, the company’s financial results may fluctuate significantly from one period to the next, rather than following a steady trend. The move to private status has also led to some restructuring within the company. One notable change is the closure of Devolver’s Nerial studio, which was responsible for the Reigns series of strategy games. This studio had been a key part of Devolver’s operations, and its shutdown marks a significant shift in the company's structure and focus. Devolver’s return to private ownership may allow it greater flexibility in its business decisions, free from the pressures of public market expectations. The company has not provided further details about its future plans, but the decision reflects a broader trend among some companies to exit the stock market in pursuit of more strategic control and long-term stability.