In the first half of 2024, 11 bit studios S.A. posted revenue of PLN 30.76 million, an operating loss of PLN 5.35 million, and a net loss of PLN 0.48 million.

A 24.16% year-on-year revenue growth was driven by the expansion of the product portfolio with the addition of new third-party titles, including The Invincible (launched on 6 November 2023), The  Thaumaturge (released on 6 March 2024), and INDIKA (debuting on 2 May 2024). ‘In the first six months of this year, sales of published third-party titles already accounted for 52% of our total revenue,’ stated Przemysław Marszał, President of the Management Board of 11 bit studios. However, the revenue growth was not sufficient to cover higher operating expenses, rising 49% year on year, largely due to the preparations for the upcoming launches of the in-house titles Frostpunk 2 and The Alters. It is important to note that the level of the Company’s net loss for the first half of 2024 was significantly influenced by the profit reported by the associated company Fool’s Theory Sp. z o.o.

‘We are confident that our financial results in the coming periods will be much stronger, and that the years 2024–2026 will be record-breaking for the Company,’ Mr Marszał emphasised. These optimistic projections are based on the anticipated strong sales of Frostpunk 2 and The Alters, supported by sales of third-party titles and the future release of Project 8 (code name). Frostpunk 2 for PC is slated for release on 20 September 2024, with The Alters following a few weeks later for PC, Xbox Series X/S, and PS5 consoles. ‘We will announce the exact release date in the first half of September,’ Mr Marszał assured. He noted that both Frostpunk 2 and The Alters will be available on the Game Pass service on their respective release dates, as part of the agreement signed last year with Microsoft Corporation.

11 bit studios is fully committed to ensuring the successful market debut of these games. ‘We are committed to delivering titles of the highest technical quality, offering players truly world-class entertainment. That’s why Frostpunk 2 and The Alters have undergone extensive testing and quality assurance for several months, involving both our internal QA teams and external testers,’ Mr Marszał explained. He emphasised that the Company is closely monitoring player feedback on the early excerpts of both games that have been shared. ‘We are pleased with the thousands of completed surveys we’ve received, and the suggestions they contain will help us refine the games to better meet our fans’ expectations. We know they are very high,’ Mr Marszał noted. He also highlighted the strong anticipation for the releases, as reflected in Steam wish list rankings. Frostpunk 2 currently ranks third among Steam’s most anticipated launches, while The Alters is ranked 46th and steadily moving up. ‘This is a testament to the hard work of our marketing department, who are dedicated to making our titles known worldwide,’ Mr Marszał added. Recent marketing efforts include May’s screenings of Frostpunk 2 and The Alters in Warsaw, attended by nearly 100 gaming media representatives, including journalists and influencers from around the globe. Additionally, a collaborative campaign run in partnership with IGN, the world’s largest gaming media outlet, featured video materials on The Alters in late June and early July. A few days ago, the release date for the Frostpunk universe anthology was announced, set for 25 September 2024. The anthology was overseen by Jacek Dukaj, one of Poland’s most renowned science fiction writers and a globally recognised author. ‘Another highlight of our recent activities was at Gamescom, which concluded a few days ago. Frostpunk 2 won the prestigious Best Gameplay award, while the third-party title Creatures of Ava took home the Games for Impact award. In total, our titles, including The Alters, received eight nominations for major awards across various categories,’ Marszał emphasised. He also noted that the Company has more promotional activities planned for both games and has yet to reveal the full extent of its promotional campaign, which will involve business partners and the world’s top gaming media. ‘We’ll be unveiling more details as we move forward,’ he concluded.