According to the latest financial report, Don’t Nod may not continue to operate after the end of January: The French studios making Life is Strange, Vampire, and Outcast: Souls of New Eden appear to be running out of money, hoping to find financiers.
In fact, the company’s total liquidity fell from $17.9 million at the end of 2025 to $11.4 million in June 2026, and then fell further to $9.3 million Operating income followed the same trajectory at the end of July.
Don’t Nod explains that both sci-fi adventure game Aphelion and the yet-to-be-announced project (internally codenamed P14) are unsatisfied Criteria required to obtain financingalthough some have expressed interest.
Outcast: New Eden and Ghost of Jusante were flops, revealed not to nod
Sales fell to $4.1 million, while revenue from development activities rose to $3 million, most of which related to a major project the team is working on Netflix.
But at the same time, EBITDA operating losses have expanded to US$5 million: More than double the $2.3 million recorded during the same period in 2025.
Layoffs are inevitable
In short, Don’t Nod was bankrupt and, given the circumstances, it was inevitable to prepare a new restructuring plan, which was approved on September 4 last year This could result in ninety people being fired.
“The results confirm great difficulty Don’t Nod CEO Oskar Guilbert said, “The measures currently being considered are difficult; we fully understand what this means for affected employees and are ensuring that the necessary support measures are in place.”
