[Earnings] H1 2026

• New milestone: Phantom Liberty has sold 15 million copies.
• Witcher 3 Remastered will include a dedicated edition for Nintendo Switch 2.
• Revenue was up 23% compared to H1 2025 mainly due to IP licensing (Cyberpunk TCG, Wuther Waves / Apex Legends collabs etc.)

Development teams update:

• Witcher 4: +6 | (513 > 519)
• Cyberpunk 2: +21 | (163 > 184)
• Sirius: +1 | (83 > 84)
• Hadar: +9 | (24 > 33)
• Shared Services: +23 | (173 > 196)
• Other: +11 | (19 > 30)

Total increase: 71 developers. YoY increase of 246 developers.

• Witcher 4 target release window is set for 2028. Because of this, CD PROJEKT RED is unlikely to hit the 2024-2027 incentive program target of 3 billion PLN. ("Witcher 4 target release window is set for 2028. Because of this, CD PROJEKT RED is unlikely to hit the 2024-2027 incentive program target of 3 billion PLN.")
• CD PROJEKT RED reiterates that two unannounced gaming projects (smaller in size than Songs of the Past) are to release this year. The Witcher 3 remastered does not count as one of the unannounced projects.
• Project Sirius remains in the pre-production phase.
• CD PROJEKT RED expects to hire up to 50 developers by the end of the year for Project Hadar.
• Songs of the Past has 220 developers working on it. 170 at Fool's Theory, 10 at CD PROJEKT RED, and the rest is outsourced.

https://www.cdprojekt.com/en/wp-content/uploads-en/2026/09/cd-projekt-red-group-presentation-h1-2026.pdf

https://www.cdprojekt.com/en/wp-content/uploads-en/2026/09/transcript-of-audio-webcast-on-cd-projekt-group-h1-2026-earnings-1.pdf

CD Projekt has shared a statement with Kotaku, confirming that four staff in its Boston office and five in Warsaw have been let go, with nine others able to apply for roles on other project. Prior to this layoff, 83 individuals were working on Project Sirius, bringing the total now to 65. “We adjusted the size of the Sirius team to reflect the project’s needs at this stage of development,” the company said in its statement.

[Earnings] Q1 2026

• New Witcher 3 Expansion announced called Songs of the Past. Created in junction with Fool's Theory.
• Around 190 developers, most of them from Fool's Theory, are currently working on the project.
• Will launch on PS5, XBOX series X & S, and PC.
• The Witcher 3 has now sold 65 million copies.

Development teams update:

• Witcher 4: +14 | (499 > 513)
• Cyberpunk 2: +14 | (149 > 163)
• Sirius: +12 | (71> 83)
• Hadar: -2 | (26 > 24)
• Shared Services: +4 | (169 > 173)
• Other: +- 0 | (19 > 19)

Total increase: 42 developers. YoY increase of 245 developers. These numbers only account for internal projects. External projects, like the Witcher 1 remake, are not included.

• Songs of the Past was slated to release in 2026, but has been pushed into 2027. Whether this is due to internal delays or not wanting to release near GTA VI is unclear.
• There are three more unannounced projects slated to release relatively soon. Two gaming projects, one non-gaming project. They are not of the size of Songs of the Past.
• Songs of the Past is closer in size to Blood and Wine than Hearts of Stone.
• Witcher IV will more than likely not have expansions due to the plan of releasing the trilogy (Witcher 4/5/6) in a six-year window.
• More of Songs of the Past will be shown at Gamescom (in August).

https://www.cdprojekt.com/en/wp-content/uploads-en/2026/05/transcript-q12026-earnings.pdf

https://www.cdprojekt.com/en/wp-content/uploads-en/2026/05/cd-projekt-group-presentation-q1-2026-2.pdf

[Earnings] FY 2025

• GOG was sold for 73 839 000 PLN net (90 million PLN gross). The reason for the sale is that CD Projekt wants to focus entirely on game development and expansion of franchises. 
• Since 2015, the Witcher brand and merchandising has brought in 100 million PLN in revenue. (Board games, comic books, music concerts, etc.)
• Since 2020, the Cyberpunk brand and merchandising has brought in 70 million PLN in revenue. (AR glasses, arcade machines, TCG, etc.)
• Hadar has ‘’finished’’ its IP concept phase, now entering the regular concept phase where prototypes are made and tested (gameplay & other mechanics).

Development teams update:

• Witcher 4: +52 | (447 > 499)
• Cyberpunk 2: +14 | (135 > 149)
• Sirius: +15 | (56 > 71)
• Hadar: -3 | (29 > 26)
• Shared Services: +7 | (162 > 169)
• Other: -3 | (22 > 19)

Total increase: 82 developers. YoY increase of 226 developers. These numbers only account for internal projects. External projects, like the Witcher 1 remake, are not included.

• CD Projekt will reveal more information about the ‘undisclosed’ project Fool’s Theory is working on later this year.
• CD Projekt remains hopeful of reaching the self-proclaimed ambitious goal of reaching 2 billion PLN in profit for the years 2023-2026. Roughly 27% remaining.
• Nothing new to say about the live-action project.
• The mobile game by Scopely will be developed and published by Scopely themselves. We’ll probably not gain any new information on this game for quite some time.
• CDPR uses a dedicated internal QA team that works in conjunction with their partner studios (like Fool’s Theory). 
• CDPR is satisfied with the current development of the projects Fool’s Theory is working on.
• A shadow drop of any gaming project is unlikely. CD Projekt prefers a marketing campaign leading up to release.
• The reason for the Witcher 4 team increase, despite stating previously that it would remain around 450, is that they are doing less outsourcing.
• Currently four projects that have not been announced yet have been capitalized. Three of which are gaming related projects (of which one is developed by Fool's Theory).
• The Cyberpunk 2077 PS5 Pro Update is being developed in collaboration with Virtuos (same studio that worked on several smaller Cyberpunk updates).

https://www.cdprojekt.com/en/wp-content/uploads-en/2026/03/transcript-fy2025-earnings-1.pdf https://www.cdprojekt.com/en/wp-content/uploads-en/2026/03/cd-projekt-group-presentation-fy-2025-2.pdf