Updated Mar 17, 2026 by 11 bit studios
11 bit studios reported revenue of PLN 49.43 million for the first nine months of 2019, a 17.09% year-on-year decrease driven by the high base effect of 2018 releases.
Net profit declined to PLN 10.02 million from PLN 28.52 million in 2018, impacted by increased operating expenses, depreciation, and PLN 6.2 million in non-cash provisions for an incentive scheme.
Operating cash flow remained resilient at PLN 36.63 million, marking a 5.48% year-on-year increase despite a net cash flow deficit caused by intensified capital investment.
The company is scaling internal operations toward a three-team structure, doubling the budget for 'Projekt 8' to PLN 20 million and initiating conceptual work on two additional projects.
Financial stability is supported by total assets of PLN 138.8 million and financial assets of PLN 90.47 million, bolstered by the continued monetization of 'Frostpunk', 'This War of Mine', 'Moonlighter', and 'Children of Morta'.
The publishing division has expanded its scope to support third-party titles with budgets up to PLN 5.5 million as part of a strategy to increase release frequency and mitigate revenue volatility.
The company is investing in long-term infrastructure, including a new Warsaw headquarters supported by a PLN 12.6 million loan and a workforce expansion targeting 200 employees.
11 bit studios reported revenue of PLN 49.43 million for the first nine months of 2019, a 17.09% year-on-year decrease driven by the high base effect of 2018 releases.
Net profit declined to PLN 10.02 million from PLN 28.52 million in 2018, impacted by increased operating expenses, depreciation, and PLN 6.2 million in non-cash provisions for an incentive scheme.
Operating cash flow remained resilient at PLN 36.63 million, marking a 5.48% year-on-year increase despite a net cash flow deficit caused by intensified capital investment.
The company is scaling internal operations toward a three-team structure, doubling the budget for 'Projekt 8' to PLN 20 million and initiating conceptual work on two additional projects.
Financial stability is supported by total assets of PLN 138.8 million and financial assets of PLN 90.47 million, bolstered by the continued monetization of 'Frostpunk', 'This War of Mine', 'Moonlighter', and 'Children of Morta'.
The publishing division has expanded its scope to support third-party titles with budgets up to PLN 5.5 million as part of a strategy to increase release frequency and mitigate revenue volatility.
The company is investing in long-term infrastructure, including a new Warsaw headquarters supported by a PLN 12.6 million loan and a workforce expansion targeting 200 employees.