The Witcher 3
Documents about The Witcher 3
Condensed Interim Consolidated Financial Statements of the CD PROJEKT Group for Q1 2026
The CD PROJEKT Group’s financial performance for the first quarter of 2026 reflects a strategic transition toward long-term development, characterized by robust revenue generation and significant capital reinvestment.
- CD PROJEKT Group reported Q1 2026 net sales of 191.1 million PLN and a net profit of 106.2 million PLN, driven by the continued performance of the Cyberpunk and The Witcher franchises.
- The company has set a consolidated net profit target of 5 billion PLN for the 2026–2029 period, supported by an expanded development pipeline.
- Cash and cash equivalents decreased by 84.1 million PLN during Q1 2026 due to aggressive capital expenditure on major upcoming titles, specifically The Witcher 4 and Cyberpunk 2.
CD PROJEKT Group: FY 2025 Earnings Presentation
The CD PROJEKT Group fiscal year 2025 earnings presentation outlines the company’s financial performance, franchise development, and operational scaling.
- CD PROJEKT Group reported a 2025 net profit of 594.7 million PLN, a 34% year-over-year increase, with a net profitability margin of 60.1%.
- Total sales revenue grew by 9% to 866.9 million PLN, with the Cyberpunk IP serving as the primary driver at 671.9 million PLN, up 12% from the previous year.
- Capitalized development expenditures rose by 65%, fueling a workforce expansion from 707 developers in early 2025 to 933 by February 2026.
Management Board Report on CD PROJEKT Group Activities in 2025
The 2025 Management Board Report details a pivotal year for the CD PROJEKT Group, characterized by a strategic narrowing of focus toward its core AAA development operations.
- CD PROJEKT Group divested its GOG.com segment in 2025 to focus exclusively on its internal AAA development pipeline, including the new Witcher saga, Cyberpunk 2, and the Hadar IP.
- The company reported a net profit of PLN 594.7 million for 2025 and ended the year debt-free with cash reserves exceeding PLN 1.3 billion.
- Strong operating cash flows from The Witcher 3 and Cyberpunk 2077 enabled the company to internally fund its R&D-heavy development cycle and distribute dividends.
CD Projekt H1 2025 Earnings Report
CD PROJEKT demonstrated sustained financial stability and strategic expansion during the first half of 2025, reporting consolidated revenues of 443 million PLN and a net profit of 155 million PLN.
- CD Projekt reported H1 2025 consolidated revenues of 443 million PLN and a net profit of 155 million PLN, driven by the Cyberpunk 2077 franchise.
- The company invested over 240 million PLN in development expenditures during H1 2025, marking the transition of the Cyberpunk 2 project into preproduction.
- The Witcher 3: Wild Hunt surpassed 60 million units sold, while the Phantom Liberty expansion reached 10 million units sold.
CD PROJEKT Q1 2025 Results
CD PROJEKT demonstrated sustained financial stability and strong intellectual property performance during the first quarter of 2025.
- CD PROJEKT reported Q1 2025 consolidated revenues of 226 million PLN and a net profit of 86 million PLN.
- The Cyberpunk 2077: Phantom Liberty expansion has surpassed 10 million units sold, while The Witcher 3: Wild Hunt has reached 60 million lifetime sales.
- The company is proposing a dividend payout of nearly 100 million PLN to shareholders despite investing 100 million PLN into future development projects.
CD PROJEKT Group Q1 2025 Earnings Conference Transcript
The CD PROJEKT Group’s first-quarter 2025 earnings report highlights a period of operational stability and strategic transition, characterized by the continued commercial success of established franchises and the advancement of new development projects.
- CD PROJEKT reported Q1 2025 revenue of 226 million PLN and a net profit of 86 million PLN, maintaining financial consistency with the same period in 2024.
- The company maintains a strong liquidity position with 1.49 billion PLN in cash, deposits, and bonds, supporting a proposed dividend of 1 PLN per share and a new share buy-back program.
- The Witcher 3: Wild Hunt has surpassed 60 million units sold, while the Cyberpunk 2077: Phantom Liberty expansion has reached 10 million copies sold in under two years.
CD PROJEKT Group: Q1 2025 Earnings Presentation
The CD PROJEKT Group’s Q1 2025 earnings presentation outlines the financial performance and operational status of the company as of May 28, 2025.
- CD PROJEKT reported a Q1 2025 net profit of 86 million PLN, representing a 14% year-over-year decrease and a 38% net profitability margin.
- The company maintains a strong financial position with 1.49 billion PLN in cash, bank deposits, and bonds, supporting a recommended dividend payout of 1 PLN per share.
- Development expenditure reached 785 million PLN by the end of Q1 2025 as the company shifts resources toward its next generation of titles.
CD Projekt Red: "Nintendo’s audience is different to what it used to be"
CD Projekt Red’s recent expansion into the Nintendo ecosystem, specifically with the launch of Cyberpunk 2077 on the Nintendo Switch 2, highlights a strategic shift in how major AAA developers view the platform.
- CD Projekt Red is targeting the Nintendo Switch 2 to reach a maturing demographic that values high-quality, open-world RPGs but lacks interest in high-end PC rigs or stationary consoles.
- The studio is prioritizing physical media on the Switch 2 by including the full game on the cartridge to eliminate the friction of large mandatory downloads.
- CD Projekt Red treats the Switch 2 as a primary, distinct platform rather than a secondary porting destination, leveraging its portability to fulfill specific player demand for flexible gaming.
Kingdom Come: Deliverance 2: Performance and Market Success
Kingdom Come: Deliverance 2 has emerged as a significant commercial success, challenging industry narratives regarding the sustainability of AAA game development.
- Kingdom Come: Deliverance 2 has sold approximately 2.75 million copies across all platforms, with a distribution of 68% on Steam, 21% on PS5, and 11% on Xbox.
- The game generated over $93.4 million in gross revenue on Steam alone as of April 10, significantly exceeding its $41 million development budget.
- China is a critical market for the title, accounting for over 21% of total Steam revenue and nearly 10% of PlayStation sales.
CD Projekt 2024 Financial Report
CD Projekt’s 2024 financial results demonstrate a resilient business model despite a year characterized by the absence of major new game releases.
- CD Projekt reported a 2024 net profit of PLN 469.9 million ($121.6 million), marking its third-best annual performance despite a 20% year-over-year revenue decline to PLN 985 million ($255 million).
- The Witcher 4 entered full production in November 2024 and currently employs 411 developers, representing the largest portion of the company's 707-person development staff.
- CD Projekt has entered a strategic partnership with Scopely to develop a new game based on one of its existing IPs, either The Witcher or Cyberpunk.
CD Projekt Looks Back at 2024
CD PROJEKT achieved strong financial results in 2024, driven primarily by the sustained commercial performance of its established back catalogue.
- CD Projekt achieved 985 million PLN in revenue and 470 million PLN in net profit in 2024, marking the company's third-best financial year despite having no major new game launches.
- The Cyberpunk 2077 franchise was the primary revenue driver, contributing nearly 600 million PLN to total earnings with 30 million base game copies and 8 million Phantom Liberty units sold by November 2024.
- The company maintained a 48% net profitability rate while simultaneously increasing financial reserves by over 160 million PLN, even after a 100 million PLN dividend payout and record development expenditures.
CD PROJEKT Q3 2024 Earnings Results
CD PROJEKT maintained strong financial momentum during the third quarter of 2024, driven by the sustained commercial success of its established intellectual property portfolio.
- CD PROJEKT reported 228 million PLN in revenue and 78 million PLN in net profit for Q3 2024, with year-to-date net profits approaching 250 million PLN.
- Project Polaris, the first title in the new Witcher trilogy, has officially entered full-scale production, marking the end of its pre-production phase.
- Cyberpunk 2077 has reached 30 million units sold globally, while its Phantom Liberty expansion surpassed 8 million units sold within its first year.