CD Projekt SA
F:7CD
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CD Projekt SA
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CD Projekt SA
CD Projekt is a video game company best known for making story-driven games for PC and consoles, especially The Witcher series and Cyberpunk 2077. It develops those games in-house through its studio and also publishes them to players around the world. Its main customers are gamers, and its money comes from selling full games, expansion packs, and other digital content. The company also runs GOG, a digital store for PC games. GOG sells downloaded games directly to consumers and gives players a way to buy and keep DRM-free titles. That business makes money from game sales and from taking a share of sales made through its store. What makes CD Projekt different is that it sits at both ends of the game business: it creates premium games and also controls one of the niche distribution channels for PC games. That gives it two ways to earn from the same audience, while keeping a strong focus on large, long-lived game franchises rather than a broad catalog of many small titles.
CD Projekt is a video game company best known for making story-driven games for PC and consoles, especially The Witcher series and Cyberpunk 2077. It develops those games in-house through its studio and also publishes them to players around the world. Its main customers are gamers, and its money comes from selling full games, expansion packs, and other digital content.
The company also runs GOG, a digital store for PC games. GOG sells downloaded games directly to consumers and gives players a way to buy and keep DRM-free titles. That business makes money from game sales and from taking a share of sales made through its store.
What makes CD Projekt different is that it sits at both ends of the game business: it creates premium games and also controls one of the niche distribution channels for PC games. That gives it two ways to earn from the same audience, while keeping a strong focus on large, long-lived game franchises rather than a broad catalog of many small titles.
Topline: CD Projekt said Q1 2026 revenue rose 6% year on year to over PLN 191 million, with net profit at PLN 106 million and cash reserves ending above PLN 1.4 billion.
Witcher Update: The company unveiled Songs of the Past, a new Witcher 3 expansion, saying it is in advanced production, will launch in 2027, and is now being worked on by around 190 developers.
Fan Response: Management highlighted a very strong community reaction to the expansion announcement, including 16 million impressions in 24 hours and the second most liked and shared tweet on the Witcher account.
Pipeline: CD Projekt said it still plans to release another advanced project in 2026, but not Songs of the Past; it also said there are 2 unannounced gaming projects and 1 non-gaming project currently capitalized.
Capital Return: Management said the decision not to pay a dividend was not driven by the expansion delay, but by the need to fund a multi-project pipeline and preserve a financial cushion.
