Don't Nod 'disappointed' by 2024's first-half financials, exploring new roadmap options

Don't Nod released its financials for the first half of the 2024-2025 fiscal year, and admitted its two newest releases, Jusant and Banishers: Ghosts of New Eden were commercial disappointments.

"Despite an excellent critical reception, [they] unfortunately did not achieve the commercial results we had hoped for," wrote CEO Oskar Guilbert. He further stated both titles sold "well below" the company's expectations.

As a result, Don't Nod posted €14.6 million in operational revenue for the half-year, which ended on June 30, 2024. The OR is down 11 percent from €16.5 million in 2023's first half.

Similarly, it saw a decrease in development revenues (to €2.0 million) and capitalized productions (to €1.1 million). The latter was owed to the "temporary" suspension of two production lines.

Don't Nod did see an increase, namely €1.2 million in sales driven mainly by back catalog titles like Vampyr and the Life is Strange games. But in light of Banishers and Jusant, the studio is doing a €24 million partial write down of those games' assets.

Don't Nod shifts its plans for the future

Looking ahead, Don't Nod outlined a new series of changes to its roadmap. The most immediate concerns Lost Records: Bloom & Rage, which releases in two parts in February and March 2025.

In an effort to "offer the highest return on investment in the short (and medium) term," Don't Nod is focusing its efforts on resources on the adventure game, and talking with industry leaders to "secure economic benefits."

After Records, two unannounced in-house projects ("P10" and "P14") are expected to release before the end of 2027. "Certain developments" for "P10" were scrapped to "bolster sales potential, reach a wider audience, and increase partnership opportunities with industry leaders."

Two other in-house projects ("P12" and "P13") from Don't Nod's Paris team are "temporarily paused" for a €7.6 million write down. Both were in the design phase, and this pause lets the developer "maximize the chances of success of the titles with the greatest [present] potential."

Finally, a pair of external projects Don't Nod is publishing in 2025 are expected to contribute to revenue over the next several years. The studio is considering "other options" to implement for its roadmap as soon as possible.

Don't Nod's full financial report on the the first half of 2024-2025 can be read here.