Updated Mar 17, 2026 by 11 bit studios
11 bit studios recorded a PLN 49,057,019 impairment loss following the formal cancellation of the development project codenamed Project 8.
The company recognized additional impairment losses of PLN 10,902,836 for 'The Thaumaturge' and PLN 7,439,040 for 'Creatures of Ava' due to revised revenue expectations.
The total non-cash asset impairments for the 2024 fiscal year reflect a strategic reassessment of the company's development pipeline and market performance of its titles.
11 bit studios reversed PLN 6,929,999 in previously recognized costs related to its 2021–2025 Incentive Scheme after determining performance targets were unlikely to be met.
The provision for the 2021–2025 Incentive Scheme was reduced from PLN 4,485,160 at the end of 2023 to PLN 439,511 by the end of 2024.
These financial adjustments indicate a period of rigorous consolidation and a recalibration of growth expectations for the Warsaw-based developer.
11 bit studios recorded a PLN 49,057,019 impairment loss following the formal cancellation of the development project codenamed Project 8.
The company recognized additional impairment losses of PLN 10,902,836 for 'The Thaumaturge' and PLN 7,439,040 for 'Creatures of Ava' due to revised revenue expectations.
The total non-cash asset impairments for the 2024 fiscal year reflect a strategic reassessment of the company's development pipeline and market performance of its titles.
11 bit studios reversed PLN 6,929,999 in previously recognized costs related to its 2021–2025 Incentive Scheme after determining performance targets were unlikely to be met.
The provision for the 2021–2025 Incentive Scheme was reduced from PLN 4,485,160 at the end of 2023 to PLN 439,511 by the end of 2024.
These financial adjustments indicate a period of rigorous consolidation and a recalibration of growth expectations for the Warsaw-based developer.