CI Games CEO lauds record annual revenues months after cutting 10 percent of jobs

Lords of the Fallen developer CI Games has delivered its "best year" ever in revenue terms after raking in over $60 million during fiscal 2023.

The company said that revenue total represents a 400 percent upswing year-over-year, and comes with Lords of the Fallen having sold approximately 1.3 million units in under three months.

Over that 12-month reporting period, CI Games recorded a gross profit of approximately $6.48 million and a net profit of approximately $3.57 million. EBITDA amounted to roughly $24 million.

CI Games Group CEO, Marek Tymiński, described the 2023 fiscal year as a "period of continued momentum" thanks to the launch of Lords of the Fallen, which was the most expensive title in the company's history and generated 83 percent of sales revenue across the year.

He neglected to mention the layoffs made by CI Games back in January, which resulted in 10 percent of the company's workforce made redundant. At the time, CI Games said it made the "tough but necessary" decision to cut jobs to deliver "business strength and stability."

CI Games delivers "best ever" year, but what about the human cost?

It was reported by GamesIndustry.biz that workers at Lords of the Fallen studio Hexworks, Sniper Ghost Warrior developer Underdog, and the "majority" of the company's marketing team would be impacted by the layoffs.

The company's latest fiscal report states that over 180 people currently work at CI Games. It adds that Hexworks currently boasts an internal development team comprising 82 staffers, while Underdog comprises 53 employees.

"The past year was a period of continued momentum for us as we focused on the largest and most expensive title in the history of the company: Lords of the Fallen. Thanks to its successful launch and the continued, solid performance of the existing back catalogue, it was the best year in terms of revenues for CI Games Group," said Tymiński, commenting on the full-year report.

"From the release until 31st December last year, Lords of the Fallen sold approximately 1.3 million units. This is an undeniable success and a solid result that allows us to plan further development of this brand. We want its next instalments to attract even more players, partly through appropriate game design, and partly thanks to the increasing popularity of this IP."

CI Games is currently developing two more projects internally–codenamed Project Survive and Project 3–that are slated to launch in 2025 and 2026 respectively.