CD Projekt Full Year 2022 Financial Results

CD Projekt’s 2022 financial results demonstrate a period of strong performance, marking the company’s second-best year for both revenue and net profit. The organization recorded total revenue of PLN 952.5 million ($221.6 million), representing a 7% year-over-year increase, while net profit rose by 66% to PLN 347 million ($80.7 million). This growth was driven primarily by the continued commercial success of Cyberpunk 2077, which generated approximately $116 million—accounting for over 50% of the company’s total annual revenue.

The geographic and operational scope of the business remains heavily concentrated in North America, which contributed 71% of total revenue, followed by Europe at 17.6%. Digital distribution channels dominate the company’s sales strategy, representing 89.2% of total revenue. While the CD Projekt RED segment, encompassing The Witcher and Cyberpunk brands, accounted for 81.9% of total revenue, the GOG platform segment continued to struggle, reporting a net loss of PLN 29.7 million ($6.9 million).

Operational data highlights a significant shift toward digital-first sales, with 94% of Cyberpunk 2077 revenue and 96% of The Witcher 3 revenue derived from digital editions. PC remains the primary platform for both titles, capturing 52% and 64% of sales respectively. Looking forward, the company has increased its development expenditure by 35% to PLN 473.2 million, prioritizing the expansion of teams working on the Phantom Liberty project and the next installment in The Witcher series. Additionally, the company has taken a strategic approach to project management, including a $10 million write-off for a Witcher title under development by The Molasses Flood to ensure better alignment with its long-term creative goals.