Updated Mar 17, 2026 by 11 bit studios
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.
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.
Management plans to shift to an aggressive release cadence starting in 2024, targeting one internal title and three to four third-party titles annually.
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.
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.
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.
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.
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.
Management plans to shift to an aggressive release cadence starting in 2024, targeting one internal title and three to four third-party titles annually.
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.
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.
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.