Green Hell

Monthly Ranking: January 2026

The January 2026 industry analysis highlights the continued market dominance of ARC Raiders, which secured the top position for both revenue and volume on Steam for the third consecutive month.

• For the third consecutive month, ARC Raiders remained the top-selling title across Xbox, PlayStation, and Steam, reaching 10 million monthly active users in January 2026, an 8% increase over December.
• ARC Raiders is currently outpacing Battlefield 6 in launch-aligned player counts, with 27.2% of its November 2025 Steam wishlisters converting into purchasers as of early February 2026.
• Low-cost co-op titles continue to drive high volume, with PEAK (1.3 million units), R.E.P.O. (1.1 million units), and RV There Yet? (752K units) collectively generating nearly $300 million in revenue since their 2025 launches.

StarRupture Is Nearing $10M in Early-Access Steam Revenues

The open-world survival game StarRupture, developed by the Warsaw-based studio Creepy Jar, has achieved significant commercial success shortly after its January 6, 2026, early-access launch on Steam.

• Creepy Jar’s StarRupture has generated nearly $10 million in revenue and sold over 700,000 copies on Steam since entering early access on January 6, 2026.
• The StarRupture Supporter Pack achieved a 55% attach rate shortly after launch, resulting in approximately $530,000 in additional revenue from 170,000 units sold.
• The "hometown hero" effect drives disproportionate local sales for developers, with Poland accounting for 6% of StarRupture’s player base, a higher share than typically seen for indie titles in that market.

Wyniki Finansowe 1H25

This financial summary details the performance of PCF Group (People Can Fly) for the first half of 2025, reflecting a period of organizational restructuring and portfolio transition.

• PCF Group revenue grew to 115.3 million PLN in 1H 2025, up from 76.3 million PLN in 1H 2024.
• EBITDA turned positive at 2.9 million PLN in 1H 2025, recovering from an 11.3 million PLN loss in the same period last year.
• The company narrowed its net loss to 21.3 million PLN in 1H 2025, compared to a 33.3 million PLN loss in 1H 2024, despite accounting write-offs from the Chicago studio merger.

Financial Results Q1 2025

The financial results for the first quarter of 2025 detail the operational and fiscal performance of PCF Group S.A., a global video game developer.

• PCF Group S.A. reported Q1 2025 revenue of 63.0 million PLN, an increase from 56.9 million PLN in Q1 2024.
• The company recorded a net loss of 3.9 million PLN in Q1 2025, widening from a 0.9 million PLN loss in the same period last year.
• Adjusted EBITDA fell significantly year-over-year, dropping from 11.0 million PLN to 1.7 million PLN.

People Can Fly Q4 2024 Financial Results Presentation

People Can Fly presents a strategic pivot toward cash flow optimization and a refined production focus as of April 2025.

• People Can Fly is exiting the virtual reality market following the release of Project Bison in late 2025, citing the cessation of platform subsidies as the primary driver.
• The company reported a net loss of PLN 175.3 million for fiscal year 2024, driven by significant one-off write-offs for Projects Red and Bifrost and the impairment of its Incuvo subsidiary.
• Annual revenue grew to PLN 190.4 million in 2024, up from PLN 150.1 million in 2023, bolstered by work-for-hire contributions from Project Maverick and Project Echo.

People Can Fly 3Q24 Financial Results

The People Can Fly Group’s financial results for the third quarter of 2024 highlight a period of operational transition and strategic realignment.

• People Can Fly reported a net loss of PLN 33.3 million for the first nine months of 2024, driven by a write-off for Project Red and contract adjustments with Square Enix.
• Revenue for the first nine months of 2024 reached PLN 131.9 million, up from PLN 111.3 million in the same period of 2023, though EBITDA fell to PLN 5.1 million.
• The company is targeting PLN 3.3 billion in total revenue between 2024 and 2028, with an estimated financing requirement of PLN 350 million for 2025–2026.

Financial Results 9M24

PCF Group S.A. presents its financial and operational results for the first nine months of 2024, focusing on the performance of its global development studios and its VR-specialized subsidiary, Incuvo.

• PCF Group reported a net loss of PLN 33.3 million for 9M 2024, widening from a PLN 13.4 million loss in the same period last year.
• Total revenue grew to PLN 131.9 million from PLN 111.3 million, driven by the release of Bulletstorm VR and increased Work-for-Hire activity.
• Adjusted EBITDA dropped to negative PLN 1.7 million, down from a positive PLN 8.5 million in 9M 2023.

Financial Results 1H24

PCF Group S.A. reported its financial results for the first half of 2024, highlighting a period of strategic adjustment and portfolio expansion within the global gaming market.

• PCF Group reported a net loss of PLN 33.3 million and an EBITDA loss of PLN 11.3 million for 1H24, driven by a contract amendment with Square Enix for Project Gemini and a PLN 7.8 million write-off for Project Red.
• Revenue for 1H24 reached PLN 76.3 million, a modest increase from the PLN 68.7 million recorded in 1H23, despite the negative impact of margin reductions in the second quarter.
• The group is shifting its strategic focus toward self-publishing and VR specialization to mitigate the financial volatility inherent in major work-for-hire contract renegotiations.

Hottest News: Gamescom 2024, New Steam Record Breaker and 580 Million Gifts from Epic Games

Gamescom 2024 highlighted several high-profile titles, including Dune Awakening, Little Nightmares 3, and Reanimal, with teaser trailers for Borderlands 4 and Mafia 4 slated for 2025.

• Black Myth: Wukong achieved 2.13 million concurrent players on Steam, becoming the second most-played game in the platform's history and selling over 10 million units in its first three days.
• Epic Games has distributed 580 million free game units since 2018 at a cost exceeding $100 million, while also spending over $300 million on store exclusives between 2018 and 2021.
• Sony’s hero shooter Concord launched to a low peak of 697 concurrent players on Steam, casting doubt on the title's future compared to the success of Helldivers II.

PCF Group 3M24 Financial Results

The PCF Group 3M24 financial results report outlines the company’s operational performance and financial standing for the first quarter of 2024.

• PCF Group reported 56.9 million PLN in revenue for 3M24, driven by the launch of Bulletstorm VR and progress on the Maverick project.
• EBITDA and adjusted EBITDA grew to 11.0 million PLN, a significant increase from the 3.0 million PLN recorded in 3M 2023.
• The company recorded a net loss of 0.9 million PLN, resulting from increased investment in the publishing team and a more conservative approach to capitalizing new project costs.

Financial Results Q1 2024

PCF Group S.A. reported its financial results for the first quarter of 2024, highlighting a period of significant revenue growth and improved profitability.

• PCF Group achieved a net profit of 11.0 million PLN in Q1 2024, a significant turnaround from the 0.9 million PLN net loss recorded in Q1 2023.
• Quarterly revenue grew to 56.9 million PLN, up from 34.9 million PLN in the prior year, driven by the release of Bulletstorm VR and progress on Project Maverick.
• EBITDA rose to 11.0 million PLN, compared to 3.0 million PLN in Q1 2023, reflecting a disciplined cost approach alongside higher revenue.

PCF Group 2023 Financial Results

The 2023 financial results for PCF Group reflect a challenging fiscal year characterized by a significant decline in profitability, largely driven by the impairment of the Dagger project and increased operational costs.