Creepy Jar (CRJ) Q3 2024 earnings summary

Executive summary

• Q3 2024 sales revenue reached PLN 7.9 million, down 13% year-over-year due to Green Hell's aging cycle and fewer major updates or new platform launches.

• Net profit for Q3 2024 was PLN 3.5 million, a 44% decrease compared to Q3 2023, with a net margin of 45%.

• EBITDA for the quarter was PLN 3.6 million, down 39% year-over-year.

• Green Hell gross sales in Q3 2024 were 497,500 copies across all platforms; cumulative sales exceeded 6 million by June 2024.

• Green Hell PS5 and Xbox Series X|S launched in August 2024, with the final PC update released in September.

Financial highlights

• Operating profit (EBIT) for Q3 2024 was PLN 3.3 million, a 40% decline year-over-year; EBIT margin was 41%.

• Operating expenses rose 36% year-over-year to PLN 4.6 million, mainly due to the 2023-2025 Incentive Scheme.

• Short-term financial assets stood at PLN 72.7 million as of September 30, 2024.

• Cash and cash equivalents at quarter-end were PLN 16.7 million.

• Dividend of PLN 9.2 million was paid in July 2024 from 2023 profits.

Outlook and guidance

• StarRupture's early access release postponed to at least mid-2025, with the production budget increased to PLN 35 million.

• Company continues to invest in new projects, notably StarRupture, to ensure operational continuity and stable revenue.

• Green Hell will receive only technical support; no further expansion packs are planned.

• Initial conceptual work on Green Hell 2 has begun, with development to intensify after StarRupture's early access launch.

• Continued work on StarRupture is expected to impact financial results in the next quarter.