Updated Mar 23, 2026 by PCF Group
PCF Group S.A. reported a cumulative net loss of PLN 33.3 million for H1 2024, a significant increase from the PLN 13.1 million loss recorded in H1 2023.
The company’s Q2 2024 EBITDA was negative at PLN -11.3 million, driven by project-specific costs and revenue adjustments.
Financial performance was negatively impacted by a major write-down of the Gemini project and lower-than-expected earnings from the Bulletstorm VR title.
Revenue growth remains modest, with year-over-year increases of approximately 3–4% and quarterly figures fluctuating between PLN 30.2 million and PLN 40.5 million.
The VR portfolio managed by InCuvO includes upcoming milestones, such as the release of Green Hell VR on Meta Quest+ in June 2024 and the addition of a horde mode to People Can Fly version 1.4 in September 2024.
The company maintains a workforce of approximately 495 employees in its Warsaw headquarters, supported by international satellite offices in Montreal, New Castle, Dublin, and Katowice.
PCF Group S.A. reported a cumulative net loss of PLN 33.3 million for H1 2024, a significant increase from the PLN 13.1 million loss recorded in H1 2023.
The company’s Q2 2024 EBITDA was negative at PLN -11.3 million, driven by project-specific costs and revenue adjustments.
Financial performance was negatively impacted by a major write-down of the Gemini project and lower-than-expected earnings from the Bulletstorm VR title.
Revenue growth remains modest, with year-over-year increases of approximately 3–4% and quarterly figures fluctuating between PLN 30.2 million and PLN 40.5 million.
The VR portfolio managed by InCuvO includes upcoming milestones, such as the release of Green Hell VR on Meta Quest+ in June 2024 and the addition of a horde mode to People Can Fly version 1.4 in September 2024.
The company maintains a workforce of approximately 495 employees in its Warsaw headquarters, supported by international satellite offices in Montreal, New Castle, Dublin, and Katowice.