Banishers: Ghosts of New Eden
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Documents about Banishers: Ghosts of New Eden
Don't Nod FY 2024 Results
Don't Nod's fiscal 2024 results present a year of sharp commercial and accounting reset for the Paris-based narrative-driven studio.
- Don't Nod reported a €64.3 million consolidated net loss for FY 2024, driven largely by €50 million in non-cash write-downs on titles including Jusant and Banishers: Ghosts of New Eden.
- Operating revenues declined to €23.9 million from €32.1 million in 2023, impacted by a 23% drop in capitalized production and a 99% decrease in development revenues.
- The company initiated a cost-reduction plan involving 59 job cuts and the suspension of two Paris-based production lines to achieve €5 million in annual operating expense savings.
Don't Nod 2024 Full-Year Results
The 2024 full-year results for DON'T NOD, an independent French video game developer and publisher, reveal a period of significant financial contraction driven by the commercial underperformance of recent titles and a strategic shift in operations.
- DON'T NOD reported a consolidated net loss of €64.3 million for 2024, a significant increase from the €14.8 million loss in 2023.
- The 2024 results include over €50 million in non-cash charges, specifically a €33 million impairment of fixed assets for 'Jusant' and 'Banishers: Ghosts of New Eden' alongside the write-off of several development projects.
- Operating revenues declined by 25% to €23.9 million, driven by a lack of new co-production revenue and reduced capitalized production.
Pullup Entertainment Reports 2024/25 Full-Year Revenue
PULLUP Entertainment, the Paris-based publisher behind Focus Entertainment Publishing and Dotemu, reported unaudited full-year revenue of €390.0 million for the fiscal year ended 31 March 2025.
- Pullup Entertainment reported record FY 2024/25 revenue of €390 million, a 108% increase year-on-year and a 101% rise over the previous 2022/23 record.
- New releases were the primary growth driver, generating €257.8 million—a four-fold increase—while the back-catalogue remained stable at €123.6 million, supported by titles like SnowRunner and Insurgency: Sandstorm.
- The company projects EBITA of €55–60 million for the fiscal year, approximately doubling its previous best result from 2022/23, while simultaneously reducing net debt.
Don't Nod 2024 Half-Year Results
The 2024 half-year results for DON'T NOD reveal a significant financial downturn driven by the commercial underperformance of recent game launches in a highly competitive market.
- DON'T NOD reported a consolidated net loss of €42.4 million for H1 2024, a significant decline from the €0.9 million loss recorded in H1 2023.
- The company recorded €40 million in non-cash charges, including a €31.6 million impairment of fixed assets tied to the titles Jusant and Banishers: Ghosts of New Eden and the suspension of two development projects.
- Operating revenues fell by 11% to €14.6 million during the first half of 2024, driven by a decrease in development-related income.
Pullup Entertainment Annual Financial Report CSR Report 2023-2024
Pullup Entertainment (formerly Focus Entertainment) used fiscal 2023/24, ended 31 March 2024, to restructure into a publisher-developer group with three pillars: Focus Entertainment Publishing, Dotemu for indie and retro titles, and Pullup Studios, a division of seven development studios.
- PULLUP Entertainment reported a consolidated net loss of €19.9 million for the 2023-2024 fiscal year, a sharp decline from the previous year's €7.3 million profit, despite maintaining stable revenue of €187.3 million.
- The financial downturn was primarily driven by the postponement of major titles like 'Warhammer 40,000: Space Marine 2' and a doubling of depreciation and amortization costs to €67 million.
- The company's back-catalogue performance was a key stabilizer, surging 89% to account for 66% of total annual sales.
Don't Nod 2023 Full-Year Results
The 2023 full-year results for DON'T NOD, an independent video game developer and publisher with operations in France and Canada, reflect a period of significant investment and transition.
- DON'T NOD reported a consolidated net loss of €14.8 million in 2023, driven by €10.5 million in non-cash impairment charges and higher marketing costs.
- Operating revenues reached €32.1 million, a 6.8% year-over-year increase supported by a 16.8% rise in capitalized production across seven intellectual property assets.
- The company maintains a strong liquidity position with €54.3 million in cash and cash equivalents and low debt of €3.1 million, bolstered by a €45.9 million capital raise in 2023.
2023 Business Review: Don't Nod
The 2023 business review for the French independent studio DON'T NOD outlines a period of strategic transition characterized by increased investment in future game development and a refocusing of its creative portfolio.
- DON'T NOD ended 2023 with a solid financial position of €54.3 million in available cash despite a challenging market environment.
- Operating revenues grew 6.8% to €32.1 million, driven by a 16.8% increase in capitalized production to €26.8 million.
- The studio recorded a €10.5 million non-cash write-off on its intellectual property portfolio, resulting in an adjusted operating EBIT of approximately €-1.4 million.
Focus Entertainment Half Year 2023/2024 Results
Focus Entertainment's first-half 2023/24 results (six months to September 30, 2023) present a publisher-developer in transition, balancing strong top-line growth against sharply lower profitability.
- Focus Entertainment reported 85 million euros in revenue for the first half of fiscal year 2023/2024, a 30% year-over-year increase.
- The company recorded a net loss of 11.5 million euros and an EBITA of -1.5 million euros, driven by higher production costs, increased amortization, and the underperformance of Atlas Fallen.
- Back-catalogue titles were the primary revenue driver, accounting for 69% of total earnings, bolstered by live content for SnowRunner and Insurgency: Sandstorm.
Don't Nod Investor Presentation: October 2023
Don't Nod, the Paris-based developer-publisher founded in 2008 by Oskar Guilbert, presents its first-half 2023 results and strategy to investors in October 2023.
- Don't Nod has secured a strong financial position with €64.2 million in cash and equivalents as of June 30, 2023, bolstered by a recent €45.9 million capital raise.
- The company is transitioning to a dual developer-publisher model, targeting an average of two game releases per year to ensure sustainable growth.
- There are currently eight projects in production across action, adventure, and narrative genres, designed to leverage the studio's reputation for storytelling.
Don't Nod 2023 Half-Year Results
The 2023 half-year financial results for DON'T NOD, an independent French video game developer and publisher, reflect a period of strategic investment and operational transition.
- DON'T NOD ended H1 2023 with €64.2 million in cash and cash equivalents, significantly bolstered by a €45.9 million capital increase in February 2023.
- Total operating revenues grew 10.3% year-over-year to €16.5 million, driven by a 28.2% increase in back-catalog sales from franchises like Vampyr and Life is Strange.
- The company recorded a net loss of €0.9 million for H1 2023, a decline from the €1.7 million net income reported in the same period of 2022 due to higher operating expenses and a €1.3 million non-recurring asset realignment charge.
Focus Entertainment FY 2022/2023 Results Presentation
Focus Entertainment's fiscal 2022/23 results were the strongest in its history, supporting the thesis that its indie and AA developer-publisher model is scaling profitably while outgrowing the broader market.
- Focus Entertainment achieved record-breaking FY 2022/2023 revenue of €194.1 million and EBITA of €28.4 million, marking year-over-year growth of 36% and 115% respectively.
- The company is executing a strategy to increase owned and co-owned intellectual property to 50% of total revenue to improve margins and reduce third-party licensing reliance.
- A development pipeline of 46 titles is scheduled for release over the next three years to support continued growth.
Don't Nod 2022 Results Presentation
Don’t Nod’s 2022 results presentation outlines the company’s strategic transition toward an integrated model that combines internal game development with self-publishing.
- Don't Nod is transitioning to an integrated model that combines internal development with self-publishing to retain intellectual property rights and improve long-term profitability.
- The company is scaling its production pipeline to include nine original intellectual properties, with a strategic focus on the action-RPG segment for expansion after 2025.
- 2022 operating revenues reached €30.0 million, representing a 12.5% year-over-year increase driven by higher capitalized production costs.
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