11 bit studios achieved a financial turnaround in H1 2025 with a net profit of PLN 8.48 million, reversing a loss from the same period in 2024.

According to "Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2025": 11 bit studios achieved a financial turnaround in H1 2025 with a net profit of PLN 8.48 million, reversing a loss from the same period in 2024.

Revenue grew 86% year-over-year to PLN 57.24 million, fueled by the June launch of The Alters and Microsoft Game Pass income for Frostpunk 2.

According to "Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2025": Revenue grew 86% year-over-year to PLN 57.24 million, fueled by the June launch of The Alters and Microsoft Game Pass income for Frostpunk 2.

The company abandoned its 2021–2025 Incentive Scheme after determining it will not meet the original five-year targets of PLN 656 million in revenue and PLN 328 million in pre-tax profit.

According to "Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2025": The company abandoned its 2021–2025 Incentive Scheme after determining it will not meet the original five-year targets of PLN 656 million in revenue and PLN 328 million in pre-tax profit.

The United States accounts for 78% of total revenue, with Steam serving as the primary distribution channel for over 50% of all sales.

According to "Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2025": The United States accounts for 78% of total revenue, with Steam serving as the primary distribution channel for over 50% of all sales.

Operating expenses rose to PLN 40.3 million, driven by a fourfold increase in depreciation costs following the release of major titles.

According to "Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2025": Operating expenses rose to PLN 40.3 million, driven by a fourfold increase in depreciation costs following the release of major titles.

The studio is shifting to a three-pillar strategy focused on internal IP, long-term platform games, and third-party publishing, with upcoming projects including the console release of Frostpunk 2 and the development of Frostpunk 1886.

According to "Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2025": The studio is shifting to a three-pillar strategy focused on internal IP, long-term platform games, and third-party publishing, with upcoming projects including the console release of Frostpunk 2 and the development of Frostpunk 1886.

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Key Insights

Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2025

11 bit studios~156 min full read

01
11 bit studios achieved a financial turnaround in H1 2025 with a net profit of PLN 8.48 million, reversing a loss from the same period in 2024.
02
Revenue grew 86% year-over-year to PLN 57.24 million, fueled by the June launch of The Alters and Microsoft Game Pass income for Frostpunk 2.
03
The company abandoned its 2021–2025 Incentive Scheme after determining it will not meet the original five-year targets of PLN 656 million in revenue and PLN 328 million in pre-tax profit.
04
The United States accounts for 78% of total revenue, with Steam serving as the primary distribution channel for over 50% of all sales.
05
Operating expenses rose to PLN 40.3 million, driven by a fourfold increase in depreciation costs following the release of major titles.
06
The studio is shifting to a three-pillar strategy focused on internal IP, long-term platform games, and third-party publishing, with upcoming projects including the console release of Frostpunk 2 and the development of Frostpunk 1886.

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