CD PROJEKT Q3 2019 Financial Results

Key insights

6 takeaways

01
CD PROJEKT reported a 38% year-over-year increase in sales revenue for Q3 2019, totaling 92.9 million PLN with a net profit of 14.9 million PLN.
02
The company invested 43 million PLN in development during the quarter, primarily focused on the final stages, testing, and localization of Cyberpunk 2077, bringing the cumulative development balance to 333 million PLN.
03
The mobile launch of GWENT on iOS was highly successful, with iOS devices generating 68% of the game’s total revenue within the first three weeks of availability.
04
Revenue growth in Q3 2019 was driven by sustained demand for The Witcher 3, initial shipments for its Nintendo Switch release, and increased performance from the GOG.com storefront.
05
CD PROJEKT expanded its operational infrastructure by purchasing its Warsaw headquarters, securing over 18,000 square meters of office space to support future development.
06
Marketing efforts for Cyberpunk 2077 included live gameplay demonstrations that reached over 60,000 fans across international cities including Tokyo, Milan, and London.

Summary

CD PROJEKT experienced a period of robust financial growth during the third quarter of 2019, characterized by a 38% year-over-year increase in sales revenues. The company reported 92.9 million PLN in total revenue and a net profit of 14.9 million PLN for the period ending September 30, 2019. This performance was driven primarily by sustained demand for The Witcher 3, initial shipments for the title’s Nintendo Switch release, and increased revenue contributions from the GOG.com digital storefront.

Development expenditures remained a significant focus, with 43 million PLN invested in ongoing projects between July and September, bringing the cumulative development balance to 333 million PLN. The majority of these resources were directed toward the final stages of Cyberpunk 2077, which underwent extensive internal and external testing alongside global localization and promotional efforts. The company’s marketing reach expanded significantly during this time, with live gameplay demonstrations reaching over 60,000 fans across major international cities including Tokyo, Milan, and London.

Strategic expansion into new hardware platforms yielded immediate results following the close of the quarter. The October releases of The Witcher 3 on Nintendo Switch and GWENT on iOS marked the company’s first foray into these ecosystems. The mobile debut of GWENT proved particularly successful, with iOS devices accounting for 68% of the game’s total revenue within the first three weeks of availability. Furthermore, the company solidified its long-term operational infrastructure by purchasing its Warsaw headquarters, securing over 18,000 square meters of office space to support future growth and development capacity.