Updated Mar 17, 2026 by 11 bit studios
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.
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.
The company holds PLN 140.7 million in capitalized development costs for key upcoming titles, specifically Frostpunk 2, The Alters, and Project 8.
Management has recommended allocating the entire 2023 net profit to statutory reserves to preserve liquidity for large-scale development, resulting in no dividend issuance.
The company maintains a robust balance sheet with total assets of PLN 265.15 million and a cash position of PLN 40.56 million.
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.
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.
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.
The company holds PLN 140.7 million in capitalized development costs for key upcoming titles, specifically Frostpunk 2, The Alters, and Project 8.
Management has recommended allocating the entire 2023 net profit to statutory reserves to preserve liquidity for large-scale development, resulting in no dividend issuance.
The company maintains a robust balance sheet with total assets of PLN 265.15 million and a cash position of PLN 40.56 million.
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.