CD PROJEKT Group has released its financial results for the first half of 2025, highlighting modest revenue growth but a decline in net profit, alongside significant updates on ongoing projects including The Witcher 4 and Cyberpunk 2.
The company reported total sales revenue of PLN 443 million, a 4 percent increase compared to the same period last year. Net profit, however, fell by 9 percent to PLN 154.9 million. Development costs for the period amounted to PLN 230.5 million, reflecting the firm’s continued investment in new projects. Cash, deposits, and bonds decreased by PLN 45.2 million, leaving CD PROJEKT with a balance of PLN 1.43 billion as of June 30, 2025.
The highlight of the earnings presentation was the reveal of a technology demo for The Witcher 4, which is being developed on Unreal Engine 5. CD PROJEKT has described the title as aiming to “set new open-world standards.” By the end of July, 444 developers were dedicated to the project, up from over 420 in April, with main development now taking place at the company’s new Warsaw campus building.
Meanwhile, the Cyberpunk 2077 franchise continues to see activity. The Cyberpunk 2077: Ultimate Edition launched for the Nintendo Switch 2 on June 5, 2025, with digital sales accounting for more than 75 percent of copies sold that month. A version for Apple Silicon Mac models followed on July 17, 2025. Looking ahead, Cyberpunk 2, internally known as Project Orion, has entered pre-production after completing its concept phase earlier in the summer. The title now serves as a primary recruitment focus, with the team growing from 96 developers in April to 116 by the end of July. CD PROJEKT indicated that the average timeline from pre-production to release is typically four to five years, signaling that the project remains in its early stages.
In addition to these flagship projects, CD PROJEKT confirmed ongoing work on Hadar, a long-term project that has not yet reached a stage eligible for capitalization. The company also disclosed that it is actively developing nine projects of various scales. Three of these remain unannounced, with two confirmed as games and one as a non-gaming venture.
CD PROJEKT’s overall staffing has risen in recent months, with the number of developers across all projects increasing from 730 at the end of April to 799 by the end of July. This growth reflects the company’s effort to balance multiple large-scale developments while preparing for future releases.
While profits dipped compared to the prior year, CD PROJEKT’s strategy appears centered on long-term growth fueled by heavy investment in its two flagship franchises and a pipeline of unannounced projects. With The Witcher 4 in active production and Cyberpunk 2 beginning its pre-production journey, the studio is positioning itself for another major cycle in the years ahead.
