- 01
11 bit studios experienced a significant financial downturn in the first nine months of 2023, with revenue falling 42% year-on-year to PLN 34.28 million and net profit dropping to PLN 1.35 million.
- 02
The company is in a heavy investment phase, with intangible assets related to R&D rising to PLN 138.2 million to support upcoming titles including Frostpunk 2, The Alters, Project 8, and The Thaumaturge.
- 03
Management plans to shift to an aggressive release cadence starting in 2024, targeting one internal title and three to four third-party titles annually.
- 04
Despite the decline in earnings, the company maintains a strong balance sheet with cash and cash equivalents rising to PLN 43.1 million and total assets reaching PLN 264.1 million.
- 05
The United States remains the company's primary market, accounting for 73% of total revenue, with Valve’s Steam platform serving as the dominant distribution channel.
- 06
The company is working toward a 2021–2025 incentive scheme that targets cumulative five-year revenue of PLN 656 million and pre-tax profit of PLN 328 million.