11 bit studios report: Half-year revenue increased by a quarter thanks to INDIKA and other new games
The Polish publisher and developer 11 bit studios has reported its financial results for the first half of 2024. We have highlighted the key points from the report.
INDIKA
- The company's revenue for January-June 2024 amounted to 30.76 million PLN (7.95 million USD). It increased by 24.16% compared to the previous year.
- This growth was achieved due to the release of new games. Since last year, 11 bit studios' portfolio has been expanded with titles such as INDIKA, The Invincible, and The Thaumaturge.
- 52% of the revenue came from third-party games published by 11 bit studios.
- 11 bit studios generated 76% of its revenue in the USA. In the UK, it earned another 11%, in Japan — 4.4%, in the European Union (excluding Poland) — 2.6%. Poland accounted for 2.9% of the revenue.
- 11 bit studios reported an increase in operating expenses by 49% to 31.6 million PLN (9.34 million USD). This rise was due to the work on the upcoming releases Frostpunk 2 and The Alters.
- 11 bit studios closed the half-year with a net loss of 477,800 PLN (123,500 USD). In comparison, the previous year it reported a net profit of 4 million PLN (1 million USD).
- The company expects its income to grow in the future, with 2025 and 2026 projected to be record-breaking years. It also anticipates high sales for Frostpunk 2 and The Alters.
