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Polish company [11 bit Studios](/company/11-bit-studios-sa) has released its [financial report](https://ir.11bitstudios.com/wp-content/uploads/2024/08/Raport-p%C3%B3%C5%82roczny-11-bit-studios-S.A.-za-I-p%C3%B3%C5%82rocze-2024-roku.pdf) for the first half of the current fiscal year. The company recorded a 24 per cent increase in revenues year-on-year, driven by the expansion of the product portfolio with new third-party titles, including The Invincible, The Thaumaturge and Indika. "In the first six months of this year, sales of published third-party titles already accounted for 52 per cent of our total revenue," said Przemysław Marszał, President of the Management Board of 11 bit studios. 

However, revenue growth was not sufficient to cover higher operating expenses, which increased by 49 per cent year-on-year, mainly due to preparations for the upcoming launches of Frostpunk 2 and The Alters, both developed at 11 bit studios. In the first half of 2024, 11 bit studios recorded revenues of PLN 30.76 million (7.2 million Euros), an operating loss of PLN 5.35 million (1.2 million Euros) and a net loss of PLN 0.48 million (112,000 Euros). The net loss of the company was significantly influenced by the profit of the associated company Fool's Theory. 11 bit studio has held a [40 per cent stake](https://11bitstudios.com/11-bit-studios-acquires-a-40-stake-in-fools-theory/) in Fool's Theory, the developers of [The Thaumaturge](/game/the-thaumaturge), since mid-2022.

"We are confident that our financial results in the coming periods will be much stronger, and that the years 2024–2026 will be record-breaking for the company," Marszał emphasised. The company expects strong sales for Frostpunk 2 and The Alters, supported by third-party sales and the future release of Project 8 (codename). Frostpunk 2 is currently the third most anticipated launch on Steam, while The Alters is 46th and climbing (based on the number of wishlists). Frostpunk 2 for PC is scheduled for release on 20 September 2024, with The Alters following a few weeks later for PC, Xbox Series X|S and PS5 consoles. "We will announce the exact release date in the first half of September," said Marszał. Both games will be available on Game Pass on their respective release dates as part of the agreement signed with Microsoft last year. "We are committed to delivering titles of the highest technical quality, offering players truly world-class entertainment. That's why Frostpunk 2 and The Alters have undergone extensive testing and quality assurance for several months, involving both our internal QA teams and external testers," the President of the Management Board explains.

"Another highlight of our recent activities was at gamescom, which concluded a few days ago. Frostpunk 2 won the prestigious Best Gameplay award, while the third-party title Creatures of Ava took home the Games for Impact award. In total, our titles, including The Alters, received eight nominations for major awards across various categories," Marszał pointed out. He also noted that the company has more promotional activities planned for both games, and has yet to reveal the full extent of its promotional campaign, which will involve business partners and gaming media.

11 bit studios Expects Record Financial Results Thanks to Frostpunk 2 and the Alters