11 Bit Studios Forecasts Lower Revenue from The Thaumaturge

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11 Bit Studios has released its financial results for the first half of 2024. The Polish development studio expects revenue from The Thaumaturge to fall below $11.6 million in its first six months on the market.

For the first half of 2024, 11 Bit Studios generated $7.95 million in revenue, a 24.1% increase year-over-year. This growth was mainly driven by sales of third-party games such as The Thaumaturge and Indika, as well as last year’s title The Invincible. In-house productions like Frostpunk and This War of Mine accounted for 48% of revenue.

In February 2022, 11 Bit Studios purchased a 40% stake in Fool’s Theory, the team behind The Thaumaturge. The agreement included an additional payment if the game generated more than $11.65 million in the first six months. Since this target is unlikely to be met, the additional payment will not be made.

On the other hand, Indika has already recouped its development costs, having sold 55,000 copies on Steam. Looking ahead, 11 Bit Studios is preparing for the release of Frostpunk 2 on September 20 and The Alters later on. The company expects strong sales and is optimistic about record performance in 2024–2026.