CD Projekt Reports Strong 2025 Financials as Witcher 4, Cyberpunk 2, and New IP Hadar Make Progress

CD Projekt has shared its full-year financial results for 2025, showing solid growth in both revenue and profit while giving updates on its upcoming projects.

The Polish studio behind The Witcher and Cyberpunk franchises had a good year on the financial front. Sales revenue came in at 867 million PLN (around $235.2 million), marking a 9% year-on-year increase.

Net profit jumped even higher, rising 33.7% to 594 million PLN ($161.4 million), up from 444.2 million PLN in the previous year.

The company described 2025 as its second-best year ever in terms of net profit.

What drove the revenue growth?

• Cyberpunk 2077 was the main revenue driver, growing 12% over the previous year

• The launch of Cyberpunk: Ultimate Edition on Nintendo Switch 2 gave sales a notable boost

• The base edition of Cyberpunk 2077 arriving on PlayStation subscription services also helped

• Physical cartridge sales for the Switch 2 version caused the goods and materials segment to grow fivefold year-on-year

• The Witcher 3: Wild Hunt surpassed 60 million copies sold, Cyberpunk 2077 crossed 35 million, and Phantom Liberty hit over 10 million copies

The Witcher 4 is the top priority

According to the earnings report, CD Projekt invested over 513 million PLN ($140 million) into future titles in 2025. The bulk of that went toward The Witcher 4 and Cyberpunk 2.

As of February 2026, The Witcher 4 had 499 developers working on it, up from 447 in October 2025 and 411 in February 2025.

Joint CEO Michał Nowakowski confirmed that most of the 220+ new hires over the past year were placed on The Witcher 4 team. Their job is to help implement and scale up the solutions shown in the Unreal Fest tech demo across the full game.

"Having gained greater visibility on the game's scope, we are strengthening our internal teams while at the same time recruiting top-class talent to provide long-term support in delivering both The Witcher 4 and our future titles," said Nowakowski.

Worth noting, the game is not expected to launch until after 2027. CD Projekt has also stated its ambition to release The Witcher 4, 5, and 6 within a six-year window, which is an ambitious but interesting target.

Cyberpunk 2 and other projects

• Cyberpunk 2 completed its conceptual phase in April 2025 and has now entered full production. It currently has 149 developers working on it, up from 135 in October and 84 in February 2025

• Project Sirius, developed at The Molasses Flood studio near Boston, has 71 people on it

• Shared services teams like localization, QA, motion capture, and data total 169 staff

Project Hadar gets an update

One of the more exciting bits from the earnings call was an update on Hadar, CD Projekt's mysterious new IP that was first announced back in 2022. Progress had been fairly quiet on that front until now.

As per the earnings call, Nowakowski shared that the project is moving forward with purpose. "Work on the project is progressing dynamically, and the team has established the foundations of this entirely new IP," he said.

"Now, we have clearly defined distinguishing features of this world, and established key pillars that will not only provide the foundation for the game itself, but also, potentially, for other future products."

The team is now building prototypes and testing them directly in Unreal Engine to see how certain gameplay mechanics feel in practice.

Hadar currently has 26 developers working on it, down slightly from 29 in October but up from just 17 a year ago.

One more thing: GOG is no longer part of CD Projekt

In December 2025, CD Projekt sold its GOG platform to co-founder Michał Kiciński for 90.7 million PLN ($25 million). The deal was fully financed externally. Kiciński continues to be the second-largest individual shareholder of CD Projekt, holding a 10% stake in the company.

Overall, CD Projekt heads into 2026 in a strong financial position with a clear roadmap across multiple major projects. The road to The Witcher 4 is long, but the studio is clearly building toward it in a big way.