Swedish game developer MachineGames has reported a year of significant growth and achievement in its latest financial report for the fiscal year 2024. Known for its work on the Wolfenstein franchise and the recently released Indiana Jones and the Great Circle, the Uppsala-based studio highlighted both its financial success and its positive outlook for the gaming industry moving forward.
According to the report, MachineGames recorded net sales of SEK 428.48 million for 2024, a notable increase from SEK 250.83 million in 2023. The company’s profit after financial items reached SEK 213.92 million, marking a dramatic rise in profitability compared to SEK 34.24 million in the previous year. With a profit margin nearing fifty percent and a solidity ratio of over ninety-three percent, the developer has shown strong financial stability.
The standout event for MachineGames in 2024 was the release of Indiana Jones and the Great Circle, launched in December for Xbox Series X/S and Windows PC, with a subsequent PlayStation 5 release in April 2025. Developed in collaboration with Bethesda Softworks and Lucasfilm Games, The Great Circle serves as an original entry in the Indiana Jones franchise, set between the events of Raiders of the Lost Ark and The Last Crusade. The narrative-driven action-adventure title takes players across iconic global locations such as the Vatican City, the Himalayas, and Giza, blending first-person exploration with third-person environmental interactions.
The game garnered positive critical reception and was nominated for multiple industry awards, including a Game of the Year nod at the D.I.C.E. Awards. Troy Baker lent his voice and performance capture talents to the role of Indiana Jones, with the character’s appearance modeled on Harrison Ford. The project also featured contributions from director Jerk Gustafsson, composer Gordy Haab, and executive producer Todd Howard, the latter of whom regarded the game as a personal passion project.
In addition to its flagship release, MachineGames expanded its operations with the opening of a satellite office in Sundsvall, Sweden, in early 2024. This expansion reflects the company’s growth ambitions as it continues to develop new projects, including an upcoming entry in the Wolfenstein series.
MachineGames is a wholly owned subsidiary of ZeniMax Media Inc. and has been part of Microsoft since 2021. Despite the overall trend in the industry toward consolidation and live-service models, the studio expressed optimism about the future of game development in its annual report. The company highlighted ongoing projects and consistent industry growth as key reasons for its confidence moving forward.
With the anticipated release of The Order of Giants, a story expansion for The Great Circle, scheduled for September 2025, MachineGames looks set to continue its trajectory of success. Its strong financial performance and creative achievements position the studio as a major player within Microsoft’s first-party lineup and the overall gaming landscape.
