The Polish publisher and developer 11 bit studios has released its financial results for the first half of 2024. Here are the key points from the report.
INDIKA
- The company's revenue for January-June 2024 amounted to 30.76 million PLN ($7.95 million), reflecting a 24.16% increase compared to the previous year.
- This growth was achieved thanks to the release of new games. Since last year, 11 bit studios' portfolio has expanded with games like INDIKA, The Invincible, and The Thaumaturge.
- 52% of the revenue came from games developed by external studios and published by 11 bit studios.
- 76% of 11 bit studios' revenue was generated in the United States. It earned an additional 11% in the United Kingdom, 4.4% in Japan, 2.6% in the European Union (excluding Poland), while Poland accounted for 2.9% of the revenue.
- 11 bit studios reported a 49% increase in operating expenses to 31.6 million PLN ($9.34 million). The rise was due to ongoing work on the upcoming releases of Frostpunk 2 and The Alters.
- The company closed the half-year with a net loss of 477.8 thousand PLN ($123.5 thousand). In comparison, a year earlier, it reported a net profit of 4 million PLN ($1 million).
- The company expects its revenues to grow in the future, with 2025 and 2026 projected to be record-breaking years. It also forecasts strong sales for Frostpunk 2 and The Alters.