Updated Mar 17, 2026 by PCF Group
People Can Fly is aggressively pivoting from a work-for-hire model to self-publishing, evidenced by a surge in development work in progress from 25.9 million PLN at the end of 2021 to 95.7 million PLN by September 30, 2022.
The company experienced a financial contraction in the first nine months of 2022, with EBITDA falling to 40.3 million PLN from 54.9 million PLN and net profit dropping to 42.1 million PLN, largely due to the termination of a major development agreement with Take-Two Interactive.
The studio is scaling its global operations rapidly, increasing its total headcount by 44% from 425 employees in September 2021 to 614 by September 2022 across nine locations in Europe and North America.
Revenue remained relatively flat year-over-year at 130.9 million PLN for the first nine months of 2022, compared to 131.8 million PLN during the same period in 2021.
The current development pipeline consists of seven active projects, including major IPs titled Gemini, Dagger, and Bifrost, as well as VR titles Thunder and Red.
Four of the company's seven active projects are currently in the pre-production phase as the firm integrates specialized studios like Incuvo to bolster its VR development capabilities.
People Can Fly is aggressively pivoting from a work-for-hire model to self-publishing, evidenced by a surge in development work in progress from 25.9 million PLN at the end of 2021 to 95.7 million PLN by September 30, 2022.
The company experienced a financial contraction in the first nine months of 2022, with EBITDA falling to 40.3 million PLN from 54.9 million PLN and net profit dropping to 42.1 million PLN, largely due to the termination of a major development agreement with Take-Two Interactive.
The studio is scaling its global operations rapidly, increasing its total headcount by 44% from 425 employees in September 2021 to 614 by September 2022 across nine locations in Europe and North America.
Revenue remained relatively flat year-over-year at 130.9 million PLN for the first nine months of 2022, compared to 131.8 million PLN during the same period in 2021.
The current development pipeline consists of seven active projects, including major IPs titled Gemini, Dagger, and Bifrost, as well as VR titles Thunder and Red.
Four of the company's seven active projects are currently in the pre-production phase as the firm integrates specialized studios like Incuvo to bolster its VR development capabilities.