CD Projekt reports a 49% drop in sales revenue in the third quarter of 2024

CD Projekt Group published its third quarter 2024 results today, reporting “strong sales” of Cyberpunk 2077 and The Witcher 3 despite sales revenue plummeting 49% year-over-year, dropping from €102.7 million (107.5 million dollars) to 52.8 million euros (55.2 million dollars).

Cyberpunk 2077’s total post-release sales now exceed 30 million copies, while its expansion, Phantom Liberty, has sold over 8 million copies.

While sales of Cyberpunk 2077 and its expansion fell by 67%, sales of The Witcher increased by 44% year-on-year.

The numbers:

CD Projekt Group Q3 Results 2024:

• Sales revenue: 49% year-on-year decline to €52.8 million ($55.2 million)
• Net profit: 61% year-on-year decline to €18.1 million ($19 million)

Highlights:

While this quarter’s results are significantly lower than the same period last year, the company’s overall performance this year has decreased by 15%, going from €178.1 million ($186.4 million) to 151.4 million euros (158.5 million dollars). Similarly, net profitability is also down 14% so far this fiscal year. Investment in product research, development and maintenance costs increased by approximately 25% in this financial period.

Since July, the company’s headcount has remained virtually stable, increasing slightly from 639 to 650 developers. Most of the studio is now dedicated to the new Witcher project, Project Polaris.

The studio also confirmed that it has “progressed toward full-scale production” of Polaris, the first installment of the new Witcher trilogy.

“I am proud to confirm that several weeks ago the Polaris team concluded pre-production and moved into full-scale production, the most intensive phase of development,” said joint CEO Micha&lstrok. Nowakowski.

“We are very pleased with our progress on this project, and I want to thank the team for their dedication.”