11 bit studios S.A. experienced a significant revenue increase of nearly 632% in Q1 2019 compared to Q1 2018, reaching PLN 14,183,796, primarily driven by strong sales of Frostpunk and This War of Mine.
02
Operating expenses rose by 267.5% to PLN 8,524,924 in Q1 2019 (from PLN 3,186,555 in Q1 2018), with major items being salaries and wages (PLN 3,306,961), services (PLN 3,367,572, including Moonlighter royalties), and a non-cash provision for the Incentive Scheme (over PLN 2.05m).
03
The company's publishing division, 11 bit publishing, contributed 18% of total revenue in 2018, largely due to the successful release of Moonlighter, and is expected to considerably impact future revenue.
04
The porting of Beat Cop to PS4, Xbox One, Nintendo Switch, iOS, and Android, released in Q1 2019, proved profitable and supported the company's financial performance.
05
11 bit studios S.A. aims to stabilize its typically volatile financial results through its portfolio of proprietary games and plans to launch third-party games every quarter through its publishing arm.
06
Other expenses decreased by 81.8% year-on-year in Q1 2019, mainly because a significant donation of PLN 648,755 to the War Child Foundation made in Q1 2018 was not repeated.
Insights
01
11 bit studios S.A. experienced a significant revenue increase of nearly 632% in Q1 2019 compared to Q1 2018, reaching PLN 14,183,796, primarily driven by strong sales of Frostpunk and This War of Mine.
02
Operating expenses rose by 267.5% to PLN 8,524,924 in Q1 2019 (from PLN 3,186,555 in Q1 2018), with major items being salaries and wages (PLN 3,306,961), services (PLN 3,367,572, including Moonlighter royalties), and a non-cash provision for the Incentive Scheme (over PLN 2.05m).
03
The company's publishing division, 11 bit publishing, contributed 18% of total revenue in 2018, largely due to the successful release of Moonlighter, and is expected to considerably impact future revenue.
04
The porting of Beat Cop to PS4, Xbox One, Nintendo Switch, iOS, and Android, released in Q1 2019, proved profitable and supported the company's financial performance.
05
11 bit studios S.A. aims to stabilize its typically volatile financial results through its portfolio of proprietary games and plans to launch third-party games every quarter through its publishing arm.
06
Other expenses decreased by 81.8% year-on-year in Q1 2019, mainly because a significant donation of PLN 648,755 to the War Child Foundation made in Q1 2018 was not repeated.