Updated Mar 17, 2026 by PCF Group
PCF Group S.A. reported a net loss of 117 million PLN for the first nine months of 2025, a significant increase from the 33.3 million PLN loss recorded in the same period of 2024.
A 92 million PLN write-down for the project 'Lost Rift' (Victoria) following its September 25, 2025, Early Access launch was the primary driver of the group's financial deficit.
Despite the net loss, total revenue grew to 152.1 million PLN in the first nine months of 2025, up from 131.9 million PLN in 2024, driven by work-for-hire projects including Delta, Zulu, and Echo.
The company reported an adjusted EBITDA of 6 million PLN for the first nine months of 2025, which management uses to demonstrate underlying operational health despite total losses.
PCF Group is halting investment in new self-published titles until the company achieves positive cash flow and is prioritizing securing at least one new work-for-hire contract by the end of 2025.
Following a corporate reorganization, the company currently maintains a global workforce of 756 employees across studios in Warsaw, Montreal, Newcastle, and Dublin.
The studio continues to maintain active development partnerships with major industry players, specifically Microsoft, Krafton, and Sony.
PCF Group S.A. reported a net loss of 117 million PLN for the first nine months of 2025, a significant increase from the 33.3 million PLN loss recorded in the same period of 2024.
A 92 million PLN write-down for the project 'Lost Rift' (Victoria) following its September 25, 2025, Early Access launch was the primary driver of the group's financial deficit.
Despite the net loss, total revenue grew to 152.1 million PLN in the first nine months of 2025, up from 131.9 million PLN in 2024, driven by work-for-hire projects including Delta, Zulu, and Echo.
The company reported an adjusted EBITDA of 6 million PLN for the first nine months of 2025, which management uses to demonstrate underlying operational health despite total losses.
PCF Group is halting investment in new self-published titles until the company achieves positive cash flow and is prioritizing securing at least one new work-for-hire contract by the end of 2025.
Following a corporate reorganization, the company currently maintains a global workforce of 756 employees across studios in Warsaw, Montreal, Newcastle, and Dublin.
The studio continues to maintain active development partnerships with major industry players, specifically Microsoft, Krafton, and Sony.