PCF Group S.A. reported Q1 2024 revenue of PLN 180.3 million, an increase from PLN 171.5 million in Q1 2023, driven by the launch of 'Bulletstorm VR' and development of the 'Maverick' title.
See it on page 4EBITDA tripled year-over-year to PLN 11.0 million, attributed to cost optimization and the inclusion of amortisation from recent IP acquisitions.
See it on page 13The company recorded a net loss of PLN 0.9 million for Q1 2024, resulting from elevated operating costs tied to new project development and work-for-hire initiatives.
See it on page 10Liquidity remains strong with PLN 112.7 million in cash and equivalents, while total assets grew significantly to PLN 277.6 million compared to PLN 159.4 million in the prior year.
See it on page 11The development pipeline includes two self-published AAA titles and three VR projects, with 'People Can Fly' and 'Bison' scheduled for release between 2024 and 2026.
See it on page 8The group maintains a stable workforce of 756 employees across five international studio locations in Warsaw, Montreal, Newcastle, Dublin, and Katowice.
See it on page 4The presentation outlines PCF Group S.A.’s financial performance for the first quarter of 2024, focusing on its gaming and VR portfolio. Revenues rose to PLN 180.3 million in Q1 2024, up from PLN 171.5 million in the same period a year earlier, driven by the launch of “Bulletstorm VR” and ongoing development of the AAA title “Maverick.” Net income for the quarter was a loss of PLN 0.9 million, reflecting higher operating costs associated with new project development and capitalisation of work‑for‑hire initiatives. EBITDA improved to PLN 11.0 million, a 3‑fold increase over Q1 2023, largely due to cost optimisation and the inclusion of amortisation from recent IP acquisitions. The group’s balance sheet shows total assets of PLN 277.6 million at 31 March 2024, up from PLN 159.4 million a year earlier, with equity rising to PLN 427.3 million. Cash and equivalents stood at PLN 112.7 million, indicating a solid liquidity position.
Geographically, the company operates studios in Warsaw, Montreal, Newcastle, Dublin, and Katowice, with a workforce of 756 employees in 2024 versus 763 in 2023. The portfolio includes two self‑published AAA titles and three VR projects, with “People Can Fly” and “Bison” slated for release in 2024–2026. The presentation also highlights ongoing work‑for‑hire projects such as “Green Hell VR” and “Bulletstorm VR,” which are expected to contribute additional revenue streams in the coming quarters. Overall, PCF Group S.A. demonstrates growth in revenue and EBITDA while managing increased costs associated with expanding its IP and development capabilities.