First of all, we found out that upcoming expansion marketing campaign for Cyberpunk 2077, called Phantom Liberty, launches in June, so we have to wait a few more months to learn more about it.
In addition, we will learn a lot of interesting details about the company’s business. CD Projekt Red currently employs over 1,000 people. We’re also seeing reviews on Steam for Cyberpunk 2077 become more positive, as you can see below.
The next data point shows ongoing sales of the developer’s games, Cyberpunk 2077, The Witcher 3, and more. We then receive an update on the distribution of CD Projekt development teams.
Looking at net financial results, we see sales up 7% year-over-year, gross margin up 11% year-over-year, and net income up 66% year-over-year. We also heard that most of the profits, over PLN 200 million (over $46 million), were reinvested in the studio’s future projects.
Unfortunately, the company’s bottom line has been hurt by a revaluation of Project Sirius, the Witcher franchise game in development at recently acquired studio Molasses Flood. Last but not least, we look at trends in the company’s R&D spending.
Below you can watch a video with CFO Petr Neljubovich talking about the results.
In 2022, the company has been working hard on Cyberpunk 2077, resulting in updates and a release of the game for next-gen consoles. A major milestone for the game was the well-received Netflix premiere of the Cyberpunk: Edgerunners anime series, which attracted many new players.
CD Projekt has sold over 20 million copies of Cyberpunk 2077 and the Wither trilogy has sold over 65 million copies.
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