Polish developer 11 Bit Studios announced that Frostpunk 2 sold 592,000 units by December 2024, earning 18.5 million. According to the company’s fiscal report for the year ending December 31, 2024, annual revenue soared by 168.9 percent year-over-year to $37.3 million, marking a record-breaking year for sales. Frostpunk 2’s launch was a key factor, alongside strong sales of older titles like Frostpunk and This War of Mine.
Despite the sales success, 2024 proved to be a challenging year for 11 Bit. The revenue increase did not lead to higher profit margins, and the company recorded an operating loss of $753,000. Net profit reached $1.8 million, buoyed by a deferred tax asset. A significant setback came in December when 11 Bit canceled Project 8, a narrative-driven console game, resulting in a non-cash impairment loss of $12.105 million and layoffs at the studio.
The decision was driven by a tough market for the game’s genre, prolonged development timelines, and rising costs that made a positive return unlikely. The company also recognized non-cash impairment losses on published titles The Thaumaturge and Creatures of Ava.
Przemysław Marszał, president of 11 Bit’s management board, acknowledged the difficulties, stating that 2024 was a year of hard work, tough decisions, and lessons learned. He expressed pride in the studio’s achievements while emphasizing the need to adapt to a rapidly changing industry. To ensure future success, 11 Bit plans to diversify its project scales and timelines, focusing on financially promising opportunities.
Looking forward, the studio has begun production on a new Frostpunk project slated for release in 2027 and has greenlit a larger-scale title for 2029. Marszał highlighted the company’s strong financial position, expressing confidence that cash reserves will grow significantly by the end of 2025 despite investments in new proprietary and third-party games.
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