Updated Mar 17, 2026 by 11 bit studios
11 bit studios reported a 21% year-on-year revenue increase to PLN 59.58 million and a net profit of PLN 19.97 million for the first nine months of 2022.
Third-party publishing revenue grew to 39% of the total, up from 25% the previous year, driven by titles such as Moonlighter and Children of Morta.
R&D spending surged by over 65% to PLN 34.26 million, funding the development of three proprietary titles—Frostpunk 2, The Alters, and Project 8—and four publishing projects.
The company maintains a strong financial position with over PLN 102 million in cash and current assets, supporting an ambitious goal of PLN 656 million in cumulative revenue by 2025.
Strategic expansion includes equity stakes in Fool’s Theory Sp. z o.o. (40%) and Starward Industries S.A. to bolster the firm's multi-project development model.
Profitability was supported by an 11.43% effective tax rate via the IP Box relief program and currency exchange gains, despite a PLN 3.66 million charitable donation to the Ukrainian Red Cross.
The United States remains the company's largest market, accounting for PLN 46.37 million of total revenue.
11 bit studios reported a 21% year-on-year revenue increase to PLN 59.58 million and a net profit of PLN 19.97 million for the first nine months of 2022.
Third-party publishing revenue grew to 39% of the total, up from 25% the previous year, driven by titles such as Moonlighter and Children of Morta.
R&D spending surged by over 65% to PLN 34.26 million, funding the development of three proprietary titles—Frostpunk 2, The Alters, and Project 8—and four publishing projects.
The company maintains a strong financial position with over PLN 102 million in cash and current assets, supporting an ambitious goal of PLN 656 million in cumulative revenue by 2025.
Strategic expansion includes equity stakes in Fool’s Theory Sp. z o.o. (40%) and Starward Industries S.A. to bolster the firm's multi-project development model.
Profitability was supported by an 11.43% effective tax rate via the IP Box relief program and currency exchange gains, despite a PLN 3.66 million charitable donation to the Ukrainian Red Cross.
The United States remains the company's largest market, accounting for PLN 46.37 million of total revenue.