11 bit studios report: revenue growth, operating losses, and hope for the success of Frostpunk 2 with The Alters
Polish company 11 bit studios reported its earnings for the first quarter of 2024. It earned more than analysts expected, but did not escape losses.
Frostpunk 2
- 11 bit studios' revenue amounted to 15.33 million PLN ($3.89 million). Compared to last year, it grew by 3.8%. As reported by Bankier portal, the PAP Biznes consensus forecast had anticipated revenue of 13.5 million PLN ($3.43 million).
- Operating losses amounted to 1.03 million PLN ($261,500). A year ago, the company reported an operating profit of 1.88 million PLN.
- Published games by 11 bit studios, primarily The Invincible and The Thaumaturge, accounted for 48% of the revenue.
- 11 bit studios acknowledged that both games sold slightly below its expectations at launch. However, during discounts, users purchased The Invincible and The Thaumaturge well, so the company is counting on strong long-term sales.
- The annual revenue of 11 bit studios will largely depend on the success of the upcoming Frostpunk 2 and The Alters, so the company is currently heavily investing in their marketing.
