By Sagar V. Mankar 
11 Bit Studios has reported its strongest financial performance to date, fueled by the highly successful launch of Frostpunk 2. The company’s revenue for the first three quarters of 2024 exceeded PLN 106.6 million, reflecting a remarkable 211.1% year-on-year growth. This figure surpasses their previous full-year record in 2020.
In the third quarter of 2024 alone, 11 Bit Studios achieved revenue of nearly PLN 76 million, marking a massive sevenfold increase compared to the same period in 2023. With efficient expense management, the company recorded an operating profit of over PLN 53 million and a net profit of PLN 47.53 million—a phenomenal 3,420.1% rise from the corresponding period of the previous year.
The standout success during this period was the release of Frostpunk 2 for PC on September 20, 2024. By the end of that month, 441,000 copies of the game had been sold, with 53.7% of customers opting for the Deluxe Edition. By mid-November, sales had grown to 511,000 units, with the Deluxe Edition continuing to be a popular choice at 48.7%. Sales were particularly strong in China (24.2%), the United States (18.5%), and Germany (7.2%), while Poland accounted for 2.9% of sales.
The game’s pre-order success and launch-week demand played a significant role in generating PLN 52.33 million, which accounted for nearly half (49.1%) of the company’s total revenue for the first nine months of 2024. Additionally, revenue from Microsoft’s Game Pass agreement added to the financial boost.
In earning note, President Przemysław Marszał emphasized the importance of Frostpunk 2 while acknowledging the continuing contribution of the original Frostpunk and its DLCs, merchandise, and board game. He also noted that the company’s publishing division, which includes games like The Invincible, The Thaumaturge, and INDIKA, brought in 26% of the year’s revenue, totaling PLN 27.62 million.
Looking forward, Marszał outlined plans to refine Frostpunk 2 with updates, expansions, and DLCs, ensuring its longevity and sustained success. He also highlighted the upcoming release of The Alters, set for early 2025, as a crucial step in their growth strategy.
Marszał concluded by emphasizing the need for careful planning in the evolving gaming market. He announced that further insights into the company’s direction would be shared at an upcoming investor conference after the release of The Alters.
Sources: 11 Bit Studios financial reports