CD Projekt Sees 49% Drop in Q3 Earnings as Witcher 4 Development Gains Momentum
Image courtesy of CD Projekt Red.
The Polish company CD Projekt has released its financial report for the third quarter of the fiscal year 2024-2025, which finished on September 30, 2024. The studio maintained steady figures during the first half of the year, yet saw declines in revenue for both the third quarter and this simpler fiscal year up to now.
CDP achieved 227.5 million PLN (approximately $55.2 million) in gross sales for the third quarter, marking a 49 percent decrease from 442.6 million PLN in the same quarter of the previous fiscal year 2023-2024. Net income also dropped to 78.1 million PLN this quarter, a decline of 61.4 percent compared to the same period last year.
Revenue for the first three quarters of 2024-2025 (January 1, 2024-September 30, 2024) stood at 652.3 million PLN, representing a 15 percent decrease compared to last year’s figure for the same period (767.6 million PLN).
Profits and losses for CD Projekt’s third quarter of 2024-2025.
Despite these downturns, CDP CFO Piotr Nielubowicz referred to this recent quarter as “very strong.” Cyberpunk 2077 and its 2023 expansion, Phantom Liberty, were highlighted for selling 30 million copies and 8 million copies (respectively) by the end of the quarter. Both titles, along with the 2015 release of The Witcher 3, are continuously recognized as significant contributors to CDP’s revenue and sales.
Alongside these “remarkable figures” for Cyberpunk, CDP CEO Michal Nowakowski confirmed the game’s launch on Mac in 2025.
All eyes on The Witcher 4
Earlier this year, CD Projekt Red initiated pre-production on The Witcher 4, which is currently codenamed ‘Polaris.’ According to Nowakowski, the studio is now fully engaged in the production of the title, which is set to be created using Unreal Engine 5 and is intended to be the start of a new series of games.
Out of CDPR’s 650 developers, 400 individuals are currently focused on Polaris, as of Halloween 2024. Additionally, 64 team members are working on ‘Orion’ (the sequel to Cyberpunk) and 42 team members are assigned to ‘Sirius,’ a multiplayer spinoff of The Witcher developed by The Molasses Flood. Last year, the studio revamped development on this project after laying off almost 30 developers.
CD Projekt’s complete financial overview for the third quarter of 2024-2025 can be accessed here.
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Contributing Editor, GameDeveloper.com
A native of Kansas City, MO, Justin Carter has contributed to a wide variety of platforms including IGN, Polygon, and SyFy Wire. Besides Game Developer, his articles can also be found on io9 at Gizmodo. Don’t inquire about how much gum he’s chewed, as the answer might be more than he’s willing to confess.