Updated Mar 17, 2026 by PCF Group
People Can Fly is exiting the virtual reality market following the release of Project Bison in late 2025, citing the cessation of platform subsidies as the primary driver.
The company reported a net loss of PLN 175.3 million for fiscal year 2024, driven by significant one-off write-offs for Projects Red and Bifrost and the impairment of its Incuvo subsidiary.
Annual revenue grew to PLN 190.4 million in 2024, up from PLN 150.1 million in 2023, bolstered by work-for-hire contributions from Project Maverick and Project Echo.
The company is prioritizing work-for-hire revenue, having recently signed a new contract with Sony Interactive Entertainment with a goal to secure two additional projects in 2025.
Krafton Inc. has waived its right of first refusal for Projects Bifrost and Victoria, allowing People Can Fly to seek new publishing partners for these titles.
Management is implementing cost-cutting measures, including team and office space optimization, while actively evaluating financing options to support its revised development pipeline.
The self-publishing roadmap remains active with the scheduled early access launch of Lost Rift in 2025, supported by a global workforce of 756 employees.
People Can Fly is exiting the virtual reality market following the release of Project Bison in late 2025, citing the cessation of platform subsidies as the primary driver.
The company reported a net loss of PLN 175.3 million for fiscal year 2024, driven by significant one-off write-offs for Projects Red and Bifrost and the impairment of its Incuvo subsidiary.
Annual revenue grew to PLN 190.4 million in 2024, up from PLN 150.1 million in 2023, bolstered by work-for-hire contributions from Project Maverick and Project Echo.
The company is prioritizing work-for-hire revenue, having recently signed a new contract with Sony Interactive Entertainment with a goal to secure two additional projects in 2025.
Krafton Inc. has waived its right of first refusal for Projects Bifrost and Victoria, allowing People Can Fly to seek new publishing partners for these titles.
Management is implementing cost-cutting measures, including team and office space optimization, while actively evaluating financing options to support its revised development pipeline.
The self-publishing roadmap remains active with the scheduled early access launch of Lost Rift in 2025, supported by a global workforce of 756 employees.