Quarterly Report: 11 bit studios S.A. 2025

Total assets increased to PLN 282,018,457 as of September 30, 2025.

Total assets were PLN 262,302,617 at December 31, 2024. The increase is reported in the nine-months ended September 30, 2025 quarterly report.

Net cash from operating activities was PLN 27,345,047 for the nine months ended September 30, 2025.

The report reports this cash flow for the nine months ended September 30, 2025.

Intangible assets increased to PLN 132,733,629 as of September 30, 2025.

Intangible assets, primarily development work for games, were PLN 128,778,863 at December 31, 2024. Additions during the period were PLN 27,779,769.

The company plans to launch two new titles in Q4 2025.

Moonlighter 2: The Endless Vault is planned for Early Access on November 19, 2025. Death Howl has an exact Q4 date to be announced.

1. 01
   Moonlighter 2: The Endless Vault

   Early Access on November 19, 2025
2. 02
   Death Howl

   Exact Q4 date to be announced

A PLN 20,000,000 credit facility with PKO BP S.A. expired on June 25, 2025.

The multi-purpose credit facility agreement expired without utilization or renewal. A separate surety agreement with PKO BP S.A. for Fool's Theory Sp. z o.o. was released on June 4, 2025.

The Steam Publisher Sale was launched in Q1 2025 and is also planned for Q4.

New titles include Frostpunk 2, The Alters, Invincible, The Thaumaturge, INDIKA.

A PLN 212,021 impairment loss was recognized for the game Creatures of Ava.

The loss was recognized due to a risk of impairment of completed development work.