The Witcher
GameBy CD Projekt RED · Released Oct 26, 2007
Reports and documents about The Witcher
Condensed Interim Consolidated Financial Statements of the CD PROJEKT Group: Q1 2025
The CD PROJEKT Group’s financial performance for the first quarter of 2025 demonstrates a stable revenue foundation underpinned by the continued commercial success of the Cyberpunk 2077 franchise.
- CD PROJEKT Group reported Q1 2025 revenue of 226.3 million PLN, with 94.4% of sales generated through digital distribution channels.
- Net profit for Q1 2025 was 86 million PLN, representing a 14.1% year-over-year decline primarily due to a 24.1% effective tax rate impacted by prior-year withholding tax adjustments.
- The company maintains a strong liquidity position with 1.49 billion PLN in cash, bank deposits, and treasury bonds, alongside 151.19 million PLN in operational cash flow.
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 Group 2024 Earnings: Chat Session with Individual Investors
The CD PROJEKT Group 2024 earnings investor chat serves as a platform for management to clarify financial strategies, operational updates, and long-term development goals following the release of their annual results.
- The Witcher franchise generated approximately 20 percent of CD PROJEKT RED’s total 2024 revenue.
- Management is prioritizing organic growth and internal development over external acquisitions, specifically focusing on recruitment for the new Boston hub.
- The company maintains a strong cash position to fund the development of the next major Witcher title and Project Orion.
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 Group: FY 2024 Earnings Presentation
The CD PROJEKT Group fiscal year 2024 earnings presentation outlines the company’s financial performance and strategic development pipeline.
- CD PROJEKT Group reported a 2024 net profit of 469.9 million PLN, supported by lifetime sales of 30 million copies of Cyberpunk 2077 and 8 million copies of the Phantom Liberty expansion.
- The company is shifting toward a multi-project development phase, evidenced by a 16% increase in total assets to 3.04 billion PLN and 695.4 million PLN in capitalized development expenditures.
- Development resources are primarily focused on the next Witcher installment and the project codenamed Orion, supported by an internal development workforce that grew to 707 staff members by February 2025.
CD Projekt Group FY 2024 Earnings
CD Projekt Group presents its FY 2024 earnings, outlining financial performance, operational milestones and a long-term growth outlook for the studio and its portfolio.
- CD Projekt Group reported FY 2024 revenue of PLN 1.23 billion, a 20% year-on-year decrease, while achieving a net profit of PLN 481.1 million.
- The company projects a significant improvement in profitability, targeting a net profit margin of 58.5% compared to the 47.7% expected for 2024 and 39% in 2023.
- Development resources are heavily concentrated on a multi-project pipeline, with 650 developers currently assigned to titles including The Witcher 4, Orion, Sirius, Hadar, and the Witcher Remake.
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.
CD Projekt Group Q3 2023 Earnings Release
The CD Projekt Group Q3 2023 earnings release details the financial and operational performance of the company, centered on the successful launch of the Cyberpunk 2077: Phantom Liberty expansion.
- CD Projekt Group reported Q3 2023 revenue of 442.7 million PLN, an 80% year-over-year increase, and a net profit of 202.9 million PLN, a 105% increase.
- The 'Phantom Liberty' expansion for Cyberpunk 2077 sold 4.3 million copies, achieving a 20% attachment rate among existing owners of the base game.
- Community sentiment for Cyberpunk 2077 improved significantly, with 92% of Steam reviews in the final 30 days of the reporting period being positive.
CD Projekt Group H1 2023 Earnings
The CD Projekt Group H1 2023 earnings summary outlines the company’s financial performance and strategic development progress for the first half of the year.
- CD Projekt Group reported a net profit of 91.27 million PLN for H1 2023, representing a 20% decline compared to the same period in 2022.
- Sales revenue for the first half of 2023 reached 325.21 million PLN, marking a 14% year-over-year decrease.
- As of June 30, 2023, the company held 466.46 million PLN in cash and bank deposits, following a 160.35 million PLN reduction during the period.
CD PROJEKT Group H1 2024 Earnings: Chat Session with Individual Investors
The CD PROJEKT Group H1 2024 investor chat provides insight into the company’s current development pipeline, operational strategy, and financial outlook.
- CD PROJEKT is optimizing development efficiency by capping peak headcount at approximately 400 developers per major project to avoid past scaling inefficiencies.
- The Witcher sequel, codenamed Polaris, is nearing the production phase, with development expenditures capitalized since March 2022.
- The company maintains a strong balance sheet with significant cash reserves and zero debt, prioritizing project reinvestment over immediate dividends or share buy-backs.