Due to ongoing sales of The Witcher trilogy and Cyberpunk 2077, 2025 was the second best year in terms of net earnings in the history of the CD Projekt Group. This was also thanks to a range of initiatives aimed at expanding the The Witcher and Cyberpunk IP beyond the realm of video games.
The Polish CD Projekt Group has published its annual report. In 2025, the group's sales revenues increased by 9% to reach ~€199m (867 million PLN). Strong sales of Cyberpunk 2077 and its Phantom Liberty expansion, as well as continued sales of The Witcher 3: Wild Hunt, remained the main revenue drivers. Reported earnings also benefited from the inclusion of Cyberpunk 2077 in the PlayStation Plus Extra and Premium catalogues, as well as the game's release on a new platform: Nintendo Switch 2. Sales of games from the Witcher trilogy have surpassed 85 million copies, alongside 35 million copies of Cyberpunk 2077 and 10 million copies of Phantom Liberty. In 2025, 51% of Cyberpunk 2077 and Phantom Liberty units were sold on PC, 29% on PlayStation, 9% on Xbox, and 10% on Switch. Similar figures were seen for The Witcher 3: Wild Hunt, with 55% of units sold on PC, 25% on PlayStation, 10% on Xbox and 10% on Switch.
The group's financial position remains robust. Consolidated net earnings from continuing activities - the core business of CD Projekt Red - were reported at ~€120m (521 million PLN) in 2025, corresponding to an 18% year-on-year increase. Taking into account earnings from discontinued activities - namely GOG's operating profit for the year, as well as income from the sale of GOG — the Group's net result increased by ~€17m (74 million PLN) to reach ~€137m (595 million PLN). These net earnings enabled the group to generate positive cash flows from operating activities of ~€136m (591 million PLN). The group's net profitability from continuing operations in 2025 was 60.1%. In terms of net earnings, 2025 was the second-best year in the CD Projekt group's history.
At the end of December 2025, 100% of the shares in GOG.com were sold for around €21 million / 90.7 million PLN. "We decided to sell GOG to focus all of our attention and resources on video game development. This is of key importance for our ambitious growth plans, which call for parallel work on multiple projects, as well as expansion of our brands to cover new areas of digital entertainment," explains Piotr Nielubowicz, CFO of CD Projekt. "GOG remains an important business partner for us, and we want our future games to continue being offered on that platform."
"In 2025 we invested nearly 513 million PLN in development of new games and tie-in products, paid out nearly 100 million PLN in a dividend, and carried out a buy-back of our stock for 22 million PLN. Despite these expenditures, our financial reserves remain high – at the end of 2025 they stood at over 1.3 billion PLN [around €300 million] in cash, bank deposits and T-bonds," Piotr Nielubowicz, CFO of CD Projekt.
Expanding the The Witcher and Cyberpunk IPs beyond the realm of video games © CD Projekt
In 2025, a variety of initiatives were launched with the aim of expanding the reach of The Witcher and Cyberpunk beyond the world of video games. "We continue to roll out new ways to experience our brands, enabling gamers to interact with universes created by CD Projekt Red studio even as they await new game releases. This builds global recognition, but also translates into tangible earnings," adds Michał Nowakowski, Joint CEO of CD Projekt. "Since the launch of The Witcher 3: Wild Hunt, tie-in products belonging to this franchise have generated over 100 million PLN [~€23 million], while for Cyberpunk 2077 the corresponding figure is almost 70 million PLN [~€16 million]. All of this confirms the strength and potential of our IP."
In 2025, the group invested over ~€113m (513 million PLN) in future releases, primarily focusing on developing The Witcher 4 and Cyberpunk 2. In addition, the CD Projekt Red Studio began work on a video game based on its new proprietary IP, codenamed Hadar. Within a year, the company increased the number of developers by over 200, to 933. By the end of February 2026, 499 developers were working on The Witcher 4, 149 on Cyberpunk 2, 71 on Sirius (a multiplayer game set in the Witcher universe), 26 on Hadar, 169 on Shared Services (e.g. Localisation, Central Quality Assurance, Data, Insights & Experiences, Motion Capture), and 19 in other areas.
