Lost Rift
GameBy People Can Fly
Documents about Lost Rift
Resolutions Adopted at the Ordinary General Meeting of PCF Group S.A. with Headquarters in Warsaw on June 23, 2025
PCF Group S.A. concluded its 2024 fiscal year facing significant financial headwinds, reporting a standalone net loss of 228.6 million PLN and a consolidated net loss of 175.3 million PLN.
- PCF Group S.A. reported a 2024 standalone net loss of 228.6 million PLN and a consolidated net loss of 175.3 million PLN, which shareholders voted to cover using the company’s supplementary capital.
- The Management Board is authorized to increase share capital by up to 215,641.62 PLN over the next three years through the issuance of over 10.7 million new shares or subscription warrants to fund game development and the self-publishing of Project Victoria (Lost Rift).
- The Board now has the authority to exclude existing shareholders' pre-emptive rights during capital raises, provided they obtain approval from the Supervisory Board.
PCF Group 3M25 Financial Results
The PCF Group’s financial results for the first quarter of 2025 reflect a period of significant strategic restructuring and financial consolidation.
- PCF Group reported a net loss of 3.9 million PLN for 3M25, with revenue declining to 56.9 million PLN from 63.0 million PLN in the same period last year.
- The company has suspended the Bifrost project—resulting in full impairment—and ceased development on the Gemini project to focus on cash flow preservation.
- EBITDA fell to 1.7 million PLN and adjusted EBITDA to 11.0 million PLN, heavily impacted by Bifrost-related costs and reduced Gemini revenue contributions.
Resolutions of the Supervisory Board of PCF Group S.A. Regarding the AGM on June 23, 2025
The governance and financial strategy of PCF Group S.A. for the 2025 fiscal period centers on securing flexible capital to support the production and self-publishing of internal intellectual properties, specifically the projects Victoria (Lost Rift) and Bifrost.
- PCF Group S.A. is seeking authorization to increase share capital by up to 215,641.62 PLN through the issuance of approximately 10.78 million new shares or warrants over the next three years.
- The proposed capital increase is intended to provide flexible financing for the production and self-publishing of internal projects, specifically 'Victoria' (Lost Rift) and 'Bifrost'.
- The Management Board may exclude existing pre-emptive rights during capital raises, provided they implement a priority right mechanism for investors holding at least 0.25% of the company.
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.
Financial Results 2025: PCF Group
The 2025 financial results for PCF Group provide an overview of the company’s operational performance, strategic pivot toward work-for-hire (WFH) projects, and financial standing.
- PCF Group reported 2025 revenues of 199.6 million PLN, up from 190.4 million PLN in 2024, but recorded a net loss of 124.3 million PLN due to 103 million PLN in asset write-downs.
- The company is executing a strategic pivot from self-publishing to a work-for-hire (WFH) model, currently managing four active projects with partners including Microsoft, Krafton, and 2K Games.
- The collaboration with Krafton on the XenoPoint mode for PUBG: BATTLEGROUNDS reached approximately 1 million concurrent users at launch.
Wyniki Finansowe 3M 2026: PCF Group
The financial results for PCF Group for the first quarter of 2026 highlight a strategic shift toward internalizing publishing capabilities and optimizing operational efficiency.
- PCF Group reported Q1 2026 revenue of 45.6 million PLN, with a net loss of 3.9 million PLN driven by a one-time impairment charge related to the GameOn studio.
- The company achieved a positive adjusted EBITDA of 1.7 million PLN, supported by ongoing work-for-hire (WFH) projects including Gemini and Florence.
- PCF Group is transitioning to a self-publishing model by acquiring Cooldown Games to manage internal IP and third-party contracts for recurring revenue.
Consolidated Quarterly Report for Q1 2026: PCF Group
PCF Group faced significant financial headwinds during the first quarter of 2026, characterized by a substantial net loss and declining revenues.
- PCF Group reported a net loss of 23.29 million PLN for Q1 2026, a significant decline from the 3.86 million PLN loss recorded in Q1 2025.
- Revenue dropped to 45.57 million PLN from 62.99 million PLN year-over-year, driven in part by a 24.9 million PLN impairment charge related to the total write-down of the Game On subsidiary.
- To address declining liquidity—with cash and cash equivalents falling to 16.82 million PLN—the company is initiating a capital increase of approximately 13.91 million PLN through a new share issuance.
Skonsolidowany Raport Kwartalny: Q3 2025
PCF Group S.A. faced a period of significant financial distress during the first nine months of 2025, characterized by a substantial increase in net losses to 154.3 million PLN, compared to 33.31 million PLN in the prior year.
- PCF Group S.A. reported a net loss of 116,960 thousand PLN for the period of January 1 to September 30, 2025, a significant increase from the previous year's performance.
- The company released its game "Lost Rift" (formerly Project Victoria) on September 25, 2025, in early access on Steam, following multiple demo and playtest phases in June, August, and September 2025.
- PCF Group S.A. is co-developing "Gears of War: E-Day" with The Coalition (part of Microsoft Corporation) under the codename Project Maverick, based on an agreement from June 13, 2023, and publicly announced on January 27, 2025.
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