Updated Mar 17, 2026 by 11 bit studios
11 bit studios reported a 28% year-on-year revenue increase to PLN 45.8 million and a 13.3% rise in net profit to PLN 15.1 million for the first half of 2022.
Development spending on intangible assets surged by 63.55% to PLN 77.5 million as the company advances its multi-project pipeline, including Frostpunk 2, The Alters, and Project 8.
The company maintains a strong liquidity position with PLN 123.3 million in total financial assets, including PLN 109.5 million in cash and equivalents, to support its transition to larger-scale production.
Strategic expansion efforts included acquiring a 40% stake in Fool’s Theory and investing in Starward Industries to secure a consistent annual release cycle of proprietary and third-party titles.
Operating expenses increased by nearly 52%, driven by higher third-party royalty payments and a PLN 3.67 million donation to the Ukrainian Red Cross.
The company is executing a long-term strategy to reach cumulative five-year revenues of PLN 656 million, supported by partnerships with Netflix, Microsoft, and Valve.
11 bit studios reported a 28% year-on-year revenue increase to PLN 45.8 million and a 13.3% rise in net profit to PLN 15.1 million for the first half of 2022.
Development spending on intangible assets surged by 63.55% to PLN 77.5 million as the company advances its multi-project pipeline, including Frostpunk 2, The Alters, and Project 8.
The company maintains a strong liquidity position with PLN 123.3 million in total financial assets, including PLN 109.5 million in cash and equivalents, to support its transition to larger-scale production.
Strategic expansion efforts included acquiring a 40% stake in Fool’s Theory and investing in Starward Industries to secure a consistent annual release cycle of proprietary and third-party titles.
Operating expenses increased by nearly 52%, driven by higher third-party royalty payments and a PLN 3.67 million donation to the Ukrainian Red Cross.
The company is executing a long-term strategy to reach cumulative five-year revenues of PLN 656 million, supported by partnerships with Netflix, Microsoft, and Valve.