Polish game developer CD Projekt Group has released its financial results for the first quarter of 2026. Driven by strong sales of Cyberpunk 2077 and The Witcher 3, the company's revenue increased year-over-year, and net profit exceeded market expectations.
The financial report indicates the group's Q1 revenue reached 1.911 billion Polish złoty, approximately $5.96 million, representing a 6% increase compared to the same period last year. Gross profit after cost of sales was 1.77 billion złoty, while selling and administrative expenses amounted to 810 million złoty. Operating profit was 971 million złoty, a year-over-year increase of 3.2%. Net profit stood at 1.062 billion złoty, translating to a net loss of $0.02 per share, surpassing market expectations of 949 million złoty and achieving a net profit margin of 56%. However, compared to the same quarter last year, net profit declined by approximately 4.5%.
The company's Chief Financial Officer, Piotr Nielubowicz, stated that the robust revenue performance in the first quarter was primarily driven by strong sales of Cyberpunk 2077 and The Witcher 3, as well as the inclusion of both games in the Xbox Game Pass Premium and Ultimate subscription service catalogues.
Regarding the balance sheet, the company maintained ample cash reserves. As of the end of March, the group's total holdings of cash, deposits, and bonds reached 14.11 billion złoty, an increase of 857 million złoty from the previous quarter. The first quarter generated positive operating cash flow of 148 million złoty, though cash outflows related to development expenditures were nearly 1.5 billion złoty.
In its product pipeline, the company announced it is developing a third expansion for The Witcher 3: Wild Hunt, titled Song of the Past, which is expected to be released in 2027 and is being co-developed with Fool's Theory studio. The cumulative sales of The Witcher 3 have surpassed 65 million units, demonstrating the strong vitality of the IP. Additionally, the Cyberpunk card game raised $28 million through Kickstarter, becoming the platform's most successful game crowdfunding project to date and its third most successful project overall.
The company indicated that some unannounced projects are already in the later stages of production and are expected to be released within this year or the next. The progress of these undisclosed projects will be a key focal point for the market in assessing the company's execution capabilities.
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