Frostpunk 2 tops 500k copies sold and $12.8 million in revenue, leading to record fiscal year for 11 bit studios

11 bit studios has released its financial report for the nine-month period ended September 30, 2024. Thanks to the strong performance of Frostpunk 2, the Polish company achieved impressive growth across all key operating metrics.

Frostpunk 2

• According to its new earnings release, 11 bit studios reached PLN 106.6 million ($26 million) in revenue during the first three fiscal quarters, up 211.1% year-over-year. Q3 alone brough in PLN 76 million ($18.5 million), a sevenfold improvement on the same period last year.
• Operating profit was PLN 53 million ($12.95 million), compared to an operating loss of PLN 1.67 million ($408.2k) in the same period last year, while net profit increased by more than 3,400% to PLN 47.53 million ($11.6 million).
• These are record-breaking results for 11 bit studios, surpassing the entire 2020, when the company reached PLN 87.1 million ($21.2 million) in revenue and PLN 37.3 million ($9.1 million) in net profit.
• The main driver of growth was Frostpunk 2, which brought in PLN 52.33 million ($12.78 million), or 49.1% of the company’s total revenue in Q1-Q3. The first game generated PLN 22.2 million ($5.42 million) in revenue during the period, up 33.8% year-over-year.
• Frostpunk 2 sold 441k copies in its first 10 days, thanks in part to strong pre-orders. As of November 13, its sales reached 511k units, with the Deluxe edition accounting for 48.7% of the total.
• 24.2% of Frostpunk 2’s sales came from China, followed by the US (18.5%) and Germany (7.2%). Poland has a share of 2.9%.
• Despite impressive results, 11 bit studios acknowledged mixed player reception for the game, planning to improve its quality in the coming quarters. “We aim to address player feedback through updates, significant expansions, and future paid DLCs, supported by marketing efforts. This approach is designed to ensure a long lifecycle and sustained monetisation for the game and thus replicate the success of the original Frostpunk title,” CEO Przemysław Marszał said in a statement.
• When looking at other titles released by 11 bit studios, The Thaumaturge generated PLN 6.79 million ($1.65 million) in revenue for the company from its launch on March 4 to September 30. It is followed by Creatures of Ava (PLN 6 million | $1.46 million), and INDIKA (PLN 4.87 million | $1.18 million).
• It is worth noting that 11 bit studios owns a 40% stake in The Thaumaturge developer Fool’s Theory. In 2022, the company paid the first tranche of PLN 2.62 million ($678.5k), with the second one being tied to the game’s commercial performance. In its latest report, 11 bit studios stressed that the second tranche has been set at zero based on a new estimate that its net revenue from the sale of The Thaumaturge won’t exceed PLN 45 million by February 20, 2028.

• 11 bit studios is now gearing up for the launch of The Alters, scheduled for the first quarter of 2025. As in the case with Frostpunk 2, this game is important for the company’s performance in the coming periods and its long-term growth.
• “The launch of Frostpunk 2 and recent releases from our publishing division, some of which underperformed relative to expectations, have reinforced the importance of carefully evaluating the development path we wish 11 bit studios to take in the coming years. This also applies to our publishing strategy,” Marszał concluded.