CD Projekt Red Expands Witcher 4 Team, Reveals New Details on Project Hadar
CD Projekt Red has provided new information about several upcoming projects during its latest earnings report, including updates on The Witcher 4, Cyberpunk 2, and a new proprietary IP known as Project Hadar. The report also included financial results for 2025, staffing numbers across development teams, and details about ongoing investment in future releases.
Project Hadar is a completely new IP from CD Projekt Red that the studio has been developing in the background. Very little information about the project has been released publicly so far, including its genre. During the earnings presentation, CD Projekt joint CEO Michał Nowakowski explained that development is advancing and that the team has already established core ideas for the new universe.
He said, “Work on the project is progressing dynamically, and the team has established the foundation of this entirely new IP. 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. Of course this does not mean the end of work on IP itself, which will naturally continue to evolve, and develop on many fronts over time.”
The development team is currently experimenting with different ideas for the project. Developers are designing specific elements that might be included in the game and building multiple prototypes. These prototypes are being implemented directly in Real Engine as the team tests gameplay components that may or may not appear in the final release. The process involves exploring both narrative concepts and mechanical systems as the project continues to develop.
Staffing numbers show the scale of work on Project Hadar. As of February 28, 26 developers were assigned to the project. The team previously consisted of 29 developers at the end of October, and 17 developers a year earlier.
While Hadar remains in early development, CD Projekt Red is committing the largest portion of its workforce to The Witcher 4. Over the past year, the studio hired more than 220 people across its teams. According to Nowakowski, most of these hires joined the development effort for The Witcher 4 to help improve the quality of the project and expand its scope.
The new developers are working on technical solutions that were presented during the Unreal Fest tech demo for The Witcher 4. Their work focuses on implementing these technologies across the entire game.
The development team for The Witcher 4 has continued to grow. As of February 28, 499 developers were working on the game. This number increased from 447 developers at the end of October 2025 and from 411 developers on February 28, 2025.
The earnings report also included updated staffing numbers for other projects at CD Projekt Red. Cyberpunk 2, the sequel to Cyberpunk 2077, had 149 developers assigned to the project as of February 28. The team previously consisted of 135 developers at the end of October and 84 developers in February 2025.
Another project under development is Sirius, created by CD Projekt’s The Molasses Flood division near Boston. The project has experienced internal changes during its development, but its team size continues to increase. As of February 28, Sirius had 71 developers, compared with 56 developers in October and 49 developers in February of the previous year.
In addition to project-specific teams, CD Projekt Red maintains internal support teams referred to as shared services. These teams include staff working in localization, quality assurance, data analysis, insights, and motion capture. As of February 28, 169 people were working in these roles.
The earnings report also detailed the financial performance of the CD PROJEKT Group during 2025. Total sales revenues reached 867 million PLN, representing 9% growth year over year. The company reported consolidated net profit of 595 million PLN, and net profitability of continuing operations reached 60.1%. According to the report, 2025 became the second-best year in the company’s history in terms of net earnings.
Sales performance during the year was driven primarily by continued demand for Cyberpunk 2077, its Phantom Liberty expansion, and The Witcher 3: Wild Hunt. Revenue also benefited from Cyberpunk 2077 appearing in the PlayStation Plus Extra and Premium catalogs, along with the game’s release on Nintendo Switch 2.
Nowakowski discussed the continued sales of the company’s games and provided updated lifetime numbers for several titles. He said, “Our games are true long sellers, as evidenced by numerical data. We have now crossed the 85 million copies sold threshold for games from The Witcher trilogy, along with 35 million copies of Cyberpunk 2077 and 10 million copies of Phantom Liberty.”
He added that the sustained performance of these titles is connected to the company’s long-term support for its products and the management of their lifecycle, which expands the player base and extends the reach of its franchises.
During 2025, the company invested heavily in development. The CD PROJEKT Group spent over 513 million PLN, equivalent to $139.2 million, on future releases. Most of this investment was directed toward The Witcher 4 and Cyberpunk 2.
The company also confirmed plans related to the future of the Witcher franchise. CD Projekt intends to release The Witcher 4, The Witcher 5, and The Witcher 6 within a six-year window.
Alongside game development, CD Projekt continues expanding its intellectual properties beyond video games. Since the launch of The Witcher 3: Wild Hunt, tie-in products connected to the franchise have generated over 100 million PLN in revenue. Tie-in products connected to Cyberpunk 2077 have generated almost 70 million PLN.
Nowakowski explained that these initiatives give players additional ways to interact with the worlds created by CD Projekt Red while waiting for upcoming releases. The company states that these efforts contribute to global recognition for its franchises while also generating revenue.
Another development during 2025 involved CD Projekt’s digital storefront GOG. The company completed the sale of 100% of shares in GOG sp. z o.o. for 90.7 million PLN through a competitive tender process. The transaction was finalized on December 31, 2025.
Piotr Nielubowicz, CFO of CD Projekt, explained the reasoning behind the decision. He said, “We decided to sell GOG to focus all of our attention and resources on video game development. This is of key importance for our ambitious growth plans, which call for parallel work on multiple projects, as well as expansion of our brands to cover new areas of digital entertainment.”
Nielubowicz also said that GOG remains an important partner and that future CD Projekt games will continue to appear on the platform.
The company’s financial results also include data about earnings from continuing and discontinued operations. Net earnings from continuing activities, which represent the core business of CD Projekt Red, reached 521 million PLN in 2025, representing a year-on-year increase of 18%. When earnings from discontinued activities were included—specifically GOG’s operating profit for the year and income from the sale of GOG—the group’s net result increased by 74 million PLN, bringing the final total to 595 million PLN.
The company also generated 591 million PLN in positive cash flows from operating activities.
During the year, CD Projekt invested nearly 513 million PLN in the development of new games and tie-in products, paid nearly 100 million PLN in dividends, and carried out a share buy-back valued at 22 million PLN.
Despite these expenditures, the company’s financial reserves remained high. At the end of 2025, CD Projekt reported over 1.3 billion PLN in cash, bank deposits, and treasury bonds.
These resources support the company’s development pipeline, which currently includes The Witcher 4, Cyberpunk 2, Sirius, and the new proprietary IP Project Hadar, where the development team continues testing gameplay systems through prototypes in the early stages of the project.
