The Thaumaturge
GameBy Fool's Theory
14 documents in the library are about The Thaumaturge, from writers such as 11 bit studios, GameDiscoverCo and Game World Observer. Each has a summary and key insights with the page they come from.
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Key figures from the reports
Amortization expenses surged by over 142% in 2025, largely due to revised accounting methodologies and impairment charges for The Thaumaturge and Creatures of Ava.
11 bit studios, 2026 · Annual Report 2025: 11 bit studios, p. 37
A significant PLN 48.4 million impairment charge was incurred due to the cancellation of 'Project 8', alongside additional write-downs for the underperforming titles The Thaumaturge and Creatures of Ava.
11 bit studios, 2025 · Annual Report of 11 Bit Studios S.A. for 2024, p. 32
11 bit studios expects net revenue from The Thaumaturge to fall below the PLN 45 million ($11.65 million) threshold required to trigger a second earn-out payment to developer Fool’s Theory.
11 bit studios, 2024 · 11 Bit Studios H1 2024 Financial Report
Revenue grew 24.16% year-on-year to PLN 30.76 million, with third-party publishing titles like The Thaumaturge, INDIKA, and The Invincible now accounting for 52% of total sales.
11 bit studios, 2024 · Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2024, p. 60
The company is in a heavy investment phase, with intangible assets related to R&D rising to PLN 138.2 million to support upcoming titles including Frostpunk 2, The Alters, Project 8, and The Thaumaturge.
11 bit studios, 2023 · Quarterly Report of 11 Bit Studios S.A. for Nine Months Ended September 30th 2023, p. 47
On Steam
Steam estimates as of 9 Oct 2026. Revenue is premium revenue on Steam only: game sales, without DLC.
- Revenue to date
- $4.3M
- Units sold
- 181K
- Last 12 months
- $810K
- 39K units
- Price
- $34.99
- Positive reviews
- 83%
- of 6,020 reviews
- Peak players
- 2,882
- at the same time
- Followers
- 61K
- Average playtime
- 9 h
| Year | Share of the best year | Revenue | Units |
|---|---|---|---|
| 2024 | $2.5M | 99K | |
| 2025 | $1.2M | 52K | |
| 2026 so far | $596K | 29K |
On Steam since Mar 4, 2024 · Developer Fool's Theory · Publisher 11 bit studiosSteam store page
Documents about The Thaumaturge
How Poppy Playtime Made 'Free Game, Paid DLC' Work on PC
The article explains how Poppy Playtime, a horror-puzzle title released on Steam in 2021 as a free base game with subsequent paid “chapters,” has achieved significant commercial success.
- The Poppy Playtime franchise has generated nearly $100 million in total revenue, with over $30 million in gross sales from four DLC chapters on Steam alone.
- The model leverages a free-to-play base game that has secured over 2.7 million downloads on Steam and 360,000 on Epic since February 2026.
- Chapter 5, priced at $20, achieved 408,000 sales on Steam and 19,000 on Epic, demonstrating the commercial viability of premium episodic content.
Annual Report 2025: 11 bit studios
The 2025 annual report for 11 bit studios confirms the company’s continued operational stability and status as a going concern within the global video game industry.
- 11 bit studios reported 141.03 million PLN in sales revenue for 2025, maintaining a net profit of approximately 6.94 million PLN.
- The company experienced a net cash flow decrease of 21.1 million PLN, driven by 23 million PLN in bond acquisitions and continued development of major titles like Frostpunk 2 and The Alters.
- Amortization expenses surged by over 142% in 2025, largely due to revised accounting methodologies and impairment charges for The Thaumaturge and Creatures of Ava.
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.
- 11 bit studios reported a 86.09% year-over-year revenue increase for the first half of 2025, reaching 57.24 million PLN ($15.77 million).
- The release of 'The Alters' on June 13, 2025, was the primary growth driver, contributing 20.4 million PLN ($5.62 million) and accounting for 35.6% of total revenue by June 30.
- The company shifted from a net loss of 477.8 thousand PLN ($131.6 thousand) in the first half of 2024 to a net profit of 8.48 million PLN ($2.34 million) in the first half of 2025.
Annual Report of 11 Bit Studios S.A. for 2024
11 bit studios S.A. reported record-breaking financial results for 2024, characterized by a 168.9% year-on-year revenue increase to PLN 140.54 million.
- 11 bit studios achieved a 168.9% year-on-year revenue increase to PLN 140.54 million in 2024, driven primarily by the launch of Frostpunk 2, which recouped its development costs within three days.
- The company recorded a modest net profit of PLN 6.9 million and an operating loss of PLN 2.84 million, heavily impacted by PLN 67.4 million in non-cash impairment losses.
- A significant PLN 48.4 million impairment charge was incurred due to the cancellation of 'Project 8', alongside additional write-downs for the underperforming titles The Thaumaturge and Creatures of Ava.
Current Report No. 3/2025: Impairments on Assets and Reduction of the Incentive Program Reserve
The Management Board of 11 bit studios has disclosed significant non-cash asset impairments and adjustments to its incentive program reserves as part of its financial closing for the 2024 fiscal year.
- 11 bit studios recorded a PLN 49,057,019 impairment loss following the formal cancellation of the development project codenamed Project 8.
- The company recognized additional impairment losses of PLN 10,902,836 for 'The Thaumaturge' and PLN 7,439,040 for 'Creatures of Ava' due to revised revenue expectations.
- The total non-cash asset impairments for the 2024 fiscal year reflect a strategic reassessment of the company's development pipeline and market performance of its titles.
Current Report No. 7/2025: Correction of the Annual Report for 2024
The Management Board of 11 bit studios S.A. issued a formal correction to its 2024 Annual Report following a request from its auditor, Grant Thornton Polska.
- 11 bit studios S.A. issued a formal correction to its 2024 Annual Report to address specific accounting classifications within its cash flow statement.
- The adjustment was mandated by auditor Grant Thornton Polska and focuses on the presentation of asset write-offs and impairments.
- The financial reclassifications involve the cancellation of Project 8 and impairment charges recognized for the titles The Thaumaturge and Creatures of Ava.
11 Bit Studios H1 2024 Financial Report
The 11 bit studios financial report for the first half of 2024 outlines the company’s performance, characterized by revenue growth alongside increased operational expenditures.
- 11 bit studios expects net revenue from The Thaumaturge to fall below the PLN 45 million ($11.65 million) threshold required to trigger a second earn-out payment to developer Fool’s Theory.
- The company reported a net loss of PLN 477.8k ($123.6k) for the first half of 2024, a decline from the PLN 4 million ($1 million) profit recorded during the same period in 2023.
- Operating costs rose by 49.38% year-over-year to PLN 36.1 million ($9.34 million), driven by increased marketing spend and royalties ahead of the launches of Frostpunk 2 and The Alters.
Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended 30 June 2024
During the first half of 2024, 11 bit studios S.A. experienced a transitional period characterized by rising revenues and strategic investments in preparation for major upcoming releases.
- 11 bit studios reported a net loss of PLN 0.48 million for H1 2024, a significant decline from the PLN 4.01 million profit in H1 2023, driven by a 49% surge in operating expenses.
- Revenue grew 24.16% year-on-year to PLN 30.76 million, with third-party publishing titles like The Thaumaturge, INDIKA, and The Invincible now accounting for 52% of total sales.
- Operating costs were heavily impacted by a doubling of salary expenses and increased marketing spend as the company scaled headcount for the launches of Frostpunk 2 and The Alters.
Quarterly Report of 11 Bit Studios S.A. for the Three Months Ended 31 March 2024
Financial performance for the first quarter of 2024 reflects a transitional period characterized by steady revenue growth alongside increased operational spending.
- 11 Bit Studios reported a Q1 2024 net loss of PLN 1.6 million, a decline from the previous year driven by a 25.88% increase in operating expenses and a near-doubling of employee benefit costs.
- Revenue grew 3.81% year-on-year to PLN 15.33 million, with the publishing division contributing 48% of sales and the United States market accounting for 74% of total revenue.
- The company holds PLN 140.7 million in capitalized development costs for key upcoming titles, specifically Frostpunk 2, The Alters, and Project 8.
Zmiana Daty Premiery Gry „The Thaumaturge”
The management board of 11 bit studios S.A. has officially rescheduled the release date for the PC version of its upcoming title, The Thaumaturge.
- 11 bit studios S.A. has delayed the PC release of 'The Thaumaturge' from February 20, 2024, to March 4, 2024.
- The two-week delay is a strategic marketing decision intended to optimize commercial performance and market visibility rather than a result of technical issues.
- Management confirms that the production phase for the PC version of the game is complete.
Quarterly Report of 11 Bit Studios S.A. for Nine Months Ended September 30th 2023
During the first nine months of 2023, 11 bit studios S.A. experienced a transitional period characterized by a significant decline in financial performance as the company prepared for a major new release cycle.
- 11 bit studios experienced a significant financial downturn in the first nine months of 2023, with revenue falling 42% year-on-year to PLN 34.28 million and net profit dropping to PLN 1.35 million.
- The company is in a heavy investment phase, with intangible assets related to R&D rising to PLN 138.2 million to support upcoming titles including Frostpunk 2, The Alters, Project 8, and The Thaumaturge.
- Management plans to shift to an aggressive release cadence starting in 2024, targeting one internal title and three to four third-party titles annually.
Half-Year Report of 11 Bit Studios S.A. for the Six Months Ended June 30th 2023
During the first half of 2023, 11 bit studios S.A. entered a transitional phase characterized by heavy capital investment and a temporary decline in financial performance.
- 11 bit studios experienced a significant H1 2023 downturn, with revenue falling 45.87% to PLN 24.78 million and net profit dropping 73.4% to PLN 4.01 million due to a lack of major releases since 2018.
- The company is currently in a heavy investment cycle, with intangible assets related to game development rising to PLN 124.7 million to fund a pipeline that includes Frostpunk 2, The Alters, Project 8, The Invincible, and The Thaumaturge.
- Despite lower earnings, the firm maintains a strong financial position with total assets of PLN 266.04 million and cash reserves of PLN 38.95 million, supported by strategic partner advances from Microsoft and a new PLN 20 million credit facility.