CD Projekt S.A. (CDR) Earnings Call Transcripts
CD Projekt S.A.'s Latest Earnings Call - Q1 FY2026
In Q1 2026, CD Projekt S.A. reported a revenue of PLN 191 million, marking a 6% year-on-year increase, driven primarily by strong sales of the Cyberpunk franchise. The net profit stood at PLN 106 million, resulting in a net profitability of 56%. Management announced the postponement of the highly anticipated expansion, 'Songs of the Past,' to 2027, which may impact investor sentiment despite the positive reception of the announcement. The company remains committed to expanding its IPs and enhancing player engagement through strategic partnerships and subscription services.
Reported metrics
| Metric | Value |
|---|---|
| Revenue | PLN 191 million (beat) |
| Net Profit | PLN 106 million (beat) |
| Net Profitability | 56% (beat) |
| Cash Reserves | PLN 1.411 billion (positive) |
| Development Expenses | PLN 180 million (positive) |
| Selling and Administrative Expenses | PLN 81 million (neutral) |
Guidance from management
Management maintained a focus on ambitious long-term goals but acknowledged the challenges of meeting the cumulative net profit target for the incentive program. They remain optimistic about the pipeline of unannounced projects.
What management said
And the next 1 is also from Nico. Would you say White development team has reached the peak or it could further increase in the coming quarters? . We believe that we, right now, have the right mix of expertise and skills. But of course, we may slightly adjust the team size depending on the needs.
The next question is from Thomas Roddy. Could you please comment on what are the financial targets for the motivation program are still considered achievable. Please refer to the stage ending in 2026 and the stage ending in 2027. So as I already said, both are really ambitious, nothing is guaranteed, but we still believe that with the products we have in our pipelines. And with the initiatives we are currently work...
What analysts pressed on
Analysts expressed concerns regarding the delay of 'Songs of the Past' and its implications for future earnings targets. There are also questions about the sustainability of revenue growth given the competitive landscape and the company's ambitious project pipeline.
Main topics on the call
- Expansion Announcement — CD Projekt announced the development of 'Songs of the Past,' a major expansion for The Witcher franchise, which has received a 'super positive reaction' from the community. The expansion is now in an advanced production ...
- Revenue Growth — The company reported Q1 2026 revenue of PLN 191 million, a 6% increase year-on-year, primarily from Cyberpunk sales and new subscriptions through Xbox Game Pass. This growth reflects the successful integration of their t...
- Net Profit and Profitability — CD Projekt achieved a net profit of PLN 106 million in Q1 2026, with a solid net profitability of 56%. This strong performance underscores the company's effective cost management despite increased selling and administrat...
- Postponement of Expansion — Management confirmed that 'Songs of the Past' will launch in 2027 instead of the previously anticipated 2026, citing the need for quality assurance. This delay may raise concerns about meeting future revenue targets and ...
Read the full CD Projekt S.A. transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About CD Projekt S.A.
CD Projekt S.A. (CDR) is a publicly listed company in the Entertainment industry, within the Communication Services sector. It trades on WSE and is based in PL. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 34 calls on record spanning April 9, 2020 to May 28, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 34 CD Projekt S.A. earnings call transcripts on record, spanning April 9, 2020 to May 28, 2026. Based on this history, CD Projekt S.A. reports quarterly. The most recent call on file is dated May 28, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- CDR
- Exchange
- WSE
- Country
- PL
- Sector
- Communication Services
- Industry
- Entertainment
- Calls on record
- 34
- First call
- April 9, 2020
- Most recent
- May 28, 2026
- Reporting cadence
- quarterly