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CD Projekt SA
OTC:OTGLF

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CD Projekt SA
OTC:OTGLF
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Price: 69 USD Market Closed
Market Cap: 6.9B USD

CD Projekt SA
Investor Relations

CD Projekt SA, a name that resonates wildly in the gaming industry, began its journey in 1994 as a Polish video game distributor. Over time, it transformed into an influential game developer and publisher, standing out prominently with its world-renowned title, "The Witcher" series. This success catapulted CD Projekt into the global spotlight, underpinned by a narrative-driven, open-world approach that garnered acclaim for both story depth and gameplay. The company thrives on its ability to craft rich, immersive worlds that captivate players worldwide, continuously raising the bar for quality in an industry where storytelling and technical prowess are paramount.

The business model of CD Projekt is multifaceted, broadly encompassing game development, publishing, and distribution through its digital platform GOG.com. The bulk of its revenue originates from game sales, particularly high-profile releases like its latest endeavor, "Cyberpunk 2077". While "Cyberpunk 2077" faced initial turbulence post-launch due to various bugs and performance issues, the company has shown resilience, focusing on post-launch fixes and updates. Beyond direct game sales, CD Projekt also capitalizes on secondary channels such as merchandise, game expansions, and adaptations of its popular intellectual properties into other media forms, breeding a robust ecosystem around its flagship titles. Through GOG.com, CD Projekt offers a digital storefront that hosts a plethora of third-party games, promoting a gamer-friendly, DRM-free environment, which further diversifies its revenue streams and sustains its growth trajectory.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 26, 2025
AI Summary
Q3 2025

Strong Revenue Growth: CD Projekt reported Q3 2025 revenue of nearly PLN 350 million, up 53% year-over-year, with Cyberpunk products as the main driver.

Profit Surge: Net profit for the quarter reached PLN 193 million, 2.5 times higher than the previous year.

Subscription & Platform Boosts: PlayStation Plus and Switch 2 launches provided significant, mostly one-off revenue boosts in Q3, with Switch 2 expected to perform well in Q4's holiday season.

Cyberpunk 2077 Milestone: Game surpassed 35 million copies sold (direct purchases only), demonstrating continued franchise strength.

Witcher 4 Progress: Witcher 4 is in full-scale production, not launching in 2026, with development progressing on schedule.

Ongoing Investments: High ongoing investment in development projects, with cash reserves remaining strong at PLN 1.4 billion after dividends and buybacks.

No Major AI Impact: Management does not see AI driving job reductions; its current use is limited to productivity enhancements.

Key Financials
Revenue
PLN 350 million
Net Profit
PLN 193 million
Net Profit (9M 2025)
PLN 350 million
CD Projekt RED Segment Net Profit Margin (Q3)
63%
CD Projekt RED Segment Net Profit Margin (9M 2025)
53%
Sales of Goods and Materials
PLN 58 million
Cash, Bank Deposits and Bonds
PLN 1.408 billion
Cyberpunk 2077 Lifetime Unit Sales
35 million copies
Other Earnings Calls

Management

Mr. Marcin Piotr Iwinski
Co-Founder & Chairman of Supervisory Board
No Bio Available
Mr. Michal Andrzej Nowakowski
Co-CEO & Member of the Management Board
No Bio Available
Mr. Piotr Marcin Nielubowicz
CFO & Vice President of the Management Board
No Bio Available
Mr. Adam Michal Kicinski
Chief Strategy Officer & Member of the Management Board
No Bio Available
Mr. Pawel Zawodny
Joint COO & Member of the Management Board
No Bio Available
Mr. Jeremiah Cohn
Chief Marketing Officer & Member of Management Board
No Bio Available
Krystyna Cybulska
Chief Accountant
No Bio Available
Ms. Karolina Gnas
IR Director
No Bio Available

Contacts

Address
WOJ. MAZOWIECKIE
Warsaw
ul. Jagiellonska 74, budynek E
Contacts
+48225196900.0
www.cdprojekt.com