I Know What You Did Last Summer 2025 Ending, Explained

Cosmopolitan

19-07-2025

Spoilers for I Know What You Did Last Summer (2025) ahead. Growing up in a town where a serial killer known as "the Fisherman" brutally murdered multiple people didn't have much of an effect on the next generation. In the new I Know What You Did Last Summer, a new group of friends try to bury a secret, only for a killer to hunt them down the following year. Then, while fighting off the murderous stalker, they also have to try to figure out the killer's identity before it's too late and they're all bought to their demise one by one.
If you're familiar with the first movie, it's no surprise that the ending of I Know What You Did Last Summer includes a big reveal involving the murderer. But, this sequel adds on to that with a second major reveal and a surprising mid-credits scene.
The explanation of what really went down is said pretty quickly during a pivotal scene, so if you didn't quite catch who did what and why, keep reading. And if you haven't seen the movie yet, turn back now! A horror mystery isn't going to be very enjoyable if you already know the outcome.
Toward the end of the movie, Ava (Chase Sui Wonders) and Danica (Madelyn Cline) flee on a boat that is driven by Stevie (Sarah Pidgeon) as suggested by Ray (Freddie Prinze Jr.). The best friends think that they are escaping the killer, but suddenly they hear the anchor go down. Stevie is trapping them. That means... Yep, Stevie comes around the corner in that telltale fisherman's slicker ready to take Ava and Danica down.
Stevie explains that she was dating Sam, the guy who died in the car accident at the beginning (which the friends sort of caused, but, honestly, that's arguable). Stevie met Sam after she got out of rehab and went through a hard family situation, and he and his church helped her through this tough time in her life. So, once she found out it was Sam who died, she wanted to get revenge on the friends for his death and for not going to the police station afterward. She also felt betrayed by them already because they had stopped reaching out to her when she needed them most.
Obviously, she "knew what they did last summer" because she was there, invited at the last-minute to hang out with them. She didn't go to the police station on her own, because Teddy (Tyriq Withers) said his rich and powerful father (Billy Campbell) would take care of it and make sure no one knew they were involved, and she felt backed into a corner because she wouldn't be able to afford legal help.
The other big twist is that there's a second killer: Ray. Stevie worked for Ray at his bar, and he'd promised her dad that he'd take care of her.
In the boat scene, Ray arrives and ends up seemingly killing Stevie after Stevie kills Danica, causing Stevie to fall off the side of the boat into the water. This is reminiscent of when Ray helps rescue Julie (Jennifer Love Hewitt) in the 1997 movie.
Afterward, Ava goes to Ray's bar, and tells him that, wow, trauma really does mess with people and she can't imagine that Stevie was able to kill so many people on her own... Wait a minute! Ray must be a killer, too! Ava attempts to flee the bar, but Ray stops her. He tells her that Stevie wanted Ava to live, because she was the only one who initially wanted to tell the police the truth in the Sam situation.
But while Ray encouraged Stevie to mimic the original Fisherman killer and seek revenge, he wanted in on the action for his own reason, too: He didn't like that the town had decided to gloss over the trauma that he and Julie went through and the loss of their friends 30 years ago. And, as Julie teaches in her course (she's a psychology professor now!), trauma really changes you.
Julie learns of her ex-husband Ray's connection to Stevie, and realizes he might be the killer. So, she shows up at his bar at just the right time to confront him, giving Ava enough time to grab a weapon and kill Ray. This leaves Ava and Julie as survivors.
Then, it's revealed that Danica did not actually die, when she washes up injured on the shoreline.
Then, it's revealed in a conversation between Danica and Ava, while they are healing from their injuries, that Stevie isn't actually dead, either. Best friends Danica and Ava both getting to live feels like a nod to the first movie, in which Julie's BFF Helen (Sarah Michelle Gellar) is killed. Many fans felt like Helen should have been the final girl of that movie, and this version lets both friends be survivors.
The movie itself features a number of references to the first movie, but the mid-credits scene is all about the 1998 sequel I Still Know What You Did Last Summer.
Suddenly, Brandy pops up on screen as her character Karla, Julie's college roommate from the sequel. Karla is watching a news report about what just went down in Southport, and says, "People are always trying to kill that woman" in reference to Julie. And then, what do ya know, Julie shows up at her door with a photo of the two of them together and a note reading, "This isn't over." Julie asks for Karla's help, and she replies, "Who are we fucking up this time?"
I Still Know What You Did Last Summer, Like, Really, I Know What You Did, I'm Not Kidding?When's that hitting theaters?