CD Projekt Q1 2023 Financial Results

CD Projekt’s financial results for the first quarter of 2023 reflect a period of strategic transition characterized by a slight decline in revenue alongside a modest increase in net profit. Total revenue reached PLN 174.7 million, representing a 19% year-over-year decrease, while net profit rose by 1% to PLN 69.6 million. Digital sales remained the primary driver of income, accounting for 89.4% of total revenue, with North America serving as the company’s largest market at 66% of total sales.

The company’s development pipeline is currently focused on balancing active support for existing titles with research and production for future projects. Over 320 employees are dedicated to the Cyberpunk 2077 expansion, Phantom Liberty, while the team for the next Witcher installment, codenamed Polaris, has grown to 220 members. Total development and research expenditures for the quarter amounted to approximately PLN 75 million. As the company nears the completion of its current expansion, it is increasingly allocating resources toward early-stage research for new intellectual properties and the Cyberpunk sequel, Orion.

A significant milestone for the company is the performance of The Witcher 3, which has surpassed 50 million units sold globally, cementing its position among the top 10 best-selling games of all time. The broader Witcher franchise has now exceeded 75 million copies sold. Despite ongoing market speculation regarding potential acquisitions, leadership has reaffirmed the company’s commitment to maintaining its independence. Looking ahead, the company continues to restructure its internal teams, including downsizing the GWENT division as it prepares to sunset content support for that title.