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CD Projekt Red Reports Strong Q3 2025 Results, Cyberpunk 2077 Hits 35 Million Sales

CD Projekt has published its financial results for Q3 of FY2025 (as of October 31, 2025), revealing major growth in both revenue and profit. The company continues to lean heavily on Cyberpunk 2077 and its expansion Phantom Liberty, which together account for more than 70% of sales revenue. Impressively, Cyberpunk has now surpassed 35 million copies sold in just five years, a milestone achieved faster than The Witcher 3.


CD Projekt reports strong Q3 2025 with PLN 349M revenue, Cyberpunk 2077 surpassing 35M sales, and Witcher 4 in full production.
CDPR reports strong Q3 2025

Financial Highlights

  • Revenue: PLN 349.1 million in Q3 2025, up 53% year-over-year.

  • Net Profit: PLN 193.5 million, two and a half times higher than last year.

  • Net Profit Margin: 63% in the CD Projekt Red segment.

  • Cash Flow: PLN 221 million positive cash flow generated during the quarter.

  • Cash Reserves: PLN 1.4 billion as of September 2025.

  • Development Expenditure: PLN 137 million in Q3, with total investments exceeding PLN 1 billion.

  • Dividend Payout: PLN 99.9 million decrease in liabilities due to July’s dividend.


Game Sales and Milestones

  • Cyberpunk 2077: Surpassed 35 million copies sold, generating PLN 252.7 million in Q3 (118% increase vs Q3 2024).

  • The Witcher Series: Brought in PLN 26.2 million, a 52% decline compared to last year.

  • Cyberpunk’s addition to PlayStation Plus Extra and Premium expanded its reach to new audiences.

  • The game also launched on Nintendo Switch 2 and Mac, boosting platform diversity.


Workforce Expansion

As of October 31, 2025, CD Projekt employed 851 developers:

  • 447 on The Witcher 4 (largest team, full-scale production).

  • 135 on Cyberpunk 2, with the Boston hub already at 80 members and plans to double in two years.

  • 56 on Project Sirius (multiplayer Witcher spin-off).

  • 29 on Project Hadar (new IP, rumored action RPG).

  • 162 in shared services like QA, localization, and data.


Q&A Insights from Earnings Call

  • PlayStation Plus licensing revenue was recorded entirely in Q3, similar to The Witcher 3 deal in 2024.

  • CD Projekt will attend the Game Awards 2025, but won’t showcase new content. So don't expect a new The Witcher 4 trailer.

  • Cyberpunk 2 remains in pre-production, "but it is too early to discuss moving to the next phase", while The Witcher 4 is in full-scale development, but not launching in 2026.

  • AI tools are being used for productivity but won’t replace developers. "The availability of gaming industry talent has increased slightly, but not necessarily due to AI. We use AI mainly for productivity improvements, and we do not foresee AI reducing headcount or replacing game development roles." - Michal Nowakowski, Joint CEO.

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