Report11 bit studios
Quarterly Report for Nine Months Ended September 30th 2020
54 pages~94 min full read
Key insights
7 takeaways · ~3 min read- 0111 bit studios S.A. generated PLN 68,159,127 in revenue from sales of computer games in the nine months ended September 30th, 2020, a significant increase from PLN 49,430,023 in the same period of 2019.See it on page 26
- 02The launch of Frostpunk: The Last Autumn on January 21st, 2020, was highly successful, driving sales of both the add-on and the base game, including the Frostpunk: Game of The Year edition.See it on page 24
- 03Revenue from third-party developed games, primarily Moonlighter and Children of Morta, accounted for approximately 28% of the Company's total revenue in the nine months ended September 30th, 2020.See it on page 26
- 04The US was the largest market for 11 bit studios S.A., contributing PLN 52,087,826 in revenue in the nine months ended September 30th, 2020, followed by Japan with PLN 10,072,823.See it on page 26
- 0511 bit studios S.A. is developing a mobile version of Frostpunk in a free-to-play model with Chinese gaming giant NetEase, and a Frostpunk board game which successfully raised EUR 2,496,308 on Kickstarter.See it on page 51
- 06The Company's total assets increased to PLN 187,586,047 as of September 30th, 2020, up from PLN 155,668,388 at the end of 2019, with cash and cash equivalents significantly rising to PLN 80,238,767 from PLN 14,882,519.See it on page 39
- 0711 bit studios S.A. restated financial data for 2018 and 2019 due to adjustments in the accounting for the 2017-2019 Incentive Scheme and the recognition of perpetual usufruct rights to land.See it on page 47
Summary
STUDIOS S.A.<sub>FOR </sub>NINE QUARTERLY REPORT OF 11 BITSTUDIOS S.A. FOR NINE MONTHS ENDED Dear Shareholders and Investors, It is our pleasure to present to you the report of 11 bit studios S.A. for the nine months ended September 30th 2020. The results for this period, which proved better than we assumed in the budget, clearly demonstrate that the consistent implementation of the Company's growth strategy is bringing measurable financial results.
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