Updated Mar 17, 2026 by Frontier Developments
Frontier Developments reported an 8% year-over-year revenue decline to £104.6 million and an operating loss of £26.6 million for the fiscal year ending May 31, 2023.
Financial results were heavily impacted by £28.7 million in non-cash charges, including a £15.0 million impairment on the F1 Manager series and a £13.7 million write-off from closing the Foundry publishing division.
The company’s revenue remains highly dependent on its back catalogue, which accounted for 72% of total FY23 revenue, led by Jurassic World Evolution 2, Planet Zoo, and Elite Dangerous.
Following the underperformance of the F1 Manager franchise, the company is pivoting its strategy to refocus on its core Creative Management Simulation (CMS) genre, with two new titles currently in development.
Management is targeting a recovery in FY24 with a projected revenue of approximately £108 million, supported by the November 2023 launch of Warhammer Age of Sigmar: Realms of Ruin.
The company has adopted a 'Select, Develop, Launch, and Nurture' operational model to improve return on investment through sustained post-release content and community engagement.
Frontier Developments reported an 8% year-over-year revenue decline to £104.6 million and an operating loss of £26.6 million for the fiscal year ending May 31, 2023.
Financial results were heavily impacted by £28.7 million in non-cash charges, including a £15.0 million impairment on the F1 Manager series and a £13.7 million write-off from closing the Foundry publishing division.
The company’s revenue remains highly dependent on its back catalogue, which accounted for 72% of total FY23 revenue, led by Jurassic World Evolution 2, Planet Zoo, and Elite Dangerous.
Following the underperformance of the F1 Manager franchise, the company is pivoting its strategy to refocus on its core Creative Management Simulation (CMS) genre, with two new titles currently in development.
Management is targeting a recovery in FY24 with a projected revenue of approximately £108 million, supported by the November 2023 launch of Warhammer Age of Sigmar: Realms of Ruin.
The company has adopted a 'Select, Develop, Launch, and Nurture' operational model to improve return on investment through sustained post-release content and community engagement.