11 Bit Studios H1 2025 Financial Outcomes

11 Bit Studios experienced significant financial growth during the first half of 2025, driven primarily by the successful launch of its new title, The Alters. The company reported total revenue of 57.24 million PLN ($15.77 million) for the period between January and June 2025, representing an 86.09% increase compared to the same timeframe in 2024. This performance shift resulted in a net profit of 8.48 million PLN ($2.34 million), a notable recovery from the net loss of 477.8 thousand PLN ($131.6 thousand) recorded in the first half of the previous year.

The release of The Alters on June 13 served as a primary catalyst for this growth, contributing 20.4 million PLN ($5.62 million) to the company’s coffers by the end of June, which accounted for approximately 35.6% of total revenue. Other portfolio contributors included Frostpunk 2, which generated 13.17 million PLN ($3.6 million), and the original Frostpunk, which saw a 32.2% decline in revenue to 7.9 million PLN ($2.17 million). Meanwhile, This War of Mine experienced a 46.6% revenue increase to 4.5 million PLN ($1.24 million), while The Thaumaturge saw a 21.7% decline to 4.36 million PLN ($1.2 million).

Geographically, the company remains heavily reliant on the United States, which accounted for 78.42% of total revenue. The United Kingdom followed as the second-largest market at 13.13%, with Hong Kong, Japan, and Poland rounding out the top five. Looking ahead, the studio confirmed that development for the upcoming title Frostpunk: 1886 remains on schedule for a 2027 release, with plans to expand the development team from 17 to 25 members by the end of 2025.