- 01
11 Bit Studios reported a Q1 2024 net loss of PLN 1.6 million, a decline from the previous year driven by a 25.88% increase in operating expenses and a near-doubling of employee benefit costs.
- 02
Revenue grew 3.81% year-on-year to PLN 15.33 million, with the publishing division contributing 48% of sales and the United States market accounting for 74% of total revenue.
- 03
The company holds PLN 140.7 million in capitalized development costs for key upcoming titles, specifically Frostpunk 2, The Alters, and Project 8.
- 04
Management has recommended allocating the entire 2023 net profit to statutory reserves to preserve liquidity for large-scale development, resulting in no dividend issuance.
- 05
The company maintains a robust balance sheet with total assets of PLN 265.15 million and a cash position of PLN 40.56 million.
- 06
Strategic growth for the second half of 2024 relies on the high-profile releases of Frostpunk 2 and The Alters, both of which are slated for debut on PC Game Pass.