- 01
11 bit studios achieved a 211% year-on-year revenue increase to PLN 106.6 million and a net profit surge to PLN 47.5 million for the first nine months of 2024.
- 02
The September launch of Frostpunk 2 was the primary growth driver, selling over 511,000 copies and accounting for nearly 50% of the company's total revenue for the period.
- 03
The company is shifting its publishing strategy and reassessing its portfolio after the underperformance of certain titles, leading to a zero-value write-down of its investment in Fool’s Theory.
- 04
Capitalized development work grew significantly from PLN 5.4 million to PLN 97.8 million, reflecting a strategic transition toward large-scale production.
- 05
Trade receivables spiked to PLN 48.5 million due to a major contract with a single partner, while cash reserves decreased slightly to PLN 35.9 million due to heavy investment in intangible assets.
- 06
Management has reduced provisions for the 2021–2025 Incentive Scheme, citing uncertainty in meeting original financial targets due to game development delays.
- 07
Future growth is contingent on the Q1 2025 release of The Alters, the development of Project 8, and the continued monetization of the existing back catalogue.