Updated Mar 17, 2026 by PCF Group
PCF Group shifted to a consolidated net loss of PLN 3.86 million in Q1 2025, despite a 10.7% year-over-year revenue increase to PLN 63.0 million.
Cash and cash equivalents fell significantly from PLN 58.1 million at the end of 2024 to PLN 33.7 million by March 31, 2025, following a failed attempt to secure PLN 350 million in funding.
The company is pivoting away from self-publishing toward a work-for-hire model, evidenced by the decision to stop capitalizing costs for Project Bifrost and exiting the VR publishing market.
Revenue is currently supported by major partnerships with Square Enix, Microsoft, Krafton, and Sony, including work on Gears of War: E-Day and Project Delta.
The company reported a negative earnings per share of 0.11 PLN and has confirmed that dividend payments are unlikely until at least 2026.
Operational focus for the remainder of 2025 includes the early access release of Project Victoria and managing rising international wage pressures.
PCF Group shifted to a consolidated net loss of PLN 3.86 million in Q1 2025, despite a 10.7% year-over-year revenue increase to PLN 63.0 million.
Cash and cash equivalents fell significantly from PLN 58.1 million at the end of 2024 to PLN 33.7 million by March 31, 2025, following a failed attempt to secure PLN 350 million in funding.
The company is pivoting away from self-publishing toward a work-for-hire model, evidenced by the decision to stop capitalizing costs for Project Bifrost and exiting the VR publishing market.
Revenue is currently supported by major partnerships with Square Enix, Microsoft, Krafton, and Sony, including work on Gears of War: E-Day and Project Delta.
The company reported a negative earnings per share of 0.11 PLN and has confirmed that dividend payments are unlikely until at least 2026.
Operational focus for the remainder of 2025 includes the early access release of Project Victoria and managing rising international wage pressures.