Don't Nod has published its financial results for the first half of 2024, in which the firm revealed its latest titles, Banishers: Ghosts of New Eden and Jusant, "performed well below expectations."
The Paris-based developer and publisher reported an 11% decrease in total operational revenue compared to the same period last year, going from €16.5 million to €14.6 million.
Don't Nod saw a decrease in development revenues to €2 million, which reflected the completed development of Banishers. It also experienced a drop in capitalised production to €1.1 million due to the "temporary suspension of two production lines."
The firm's sales rose to €1.2 million, driven by its back catalogue, which includes Vampyr and the Life is Strange series, in addition to Jusant and Banishers.
In response to its underperformance for the period, Don't Nod will undertake a €24 million write-down of Jusant and Banishers' assets.
It has "temporarily paused" two projects currently in the design phase, with a write-down of €7.6 million, to "prioritise resources and maximise the chances of success of the titles with the greatest potential at present."
The company intends to focus on upcoming IP in production, "offering the highest potential return on investment in the short (and medium) term", including Lost Records: Bloom and Rage, which will launch in February and March 2025.
Don't Nod also detailed two in-house projects scheduled for release before the end of 2027 and two external production projects due for release next year.
"We are obviously disappointed by our recent performance in an extremely competitive and selective market," said Don't Nod CEO and chairman Oskar Guilbert.
"Despite an excellent critical reception, Jusant and Banishers unfortunately did not achieve the commercial results we had hoped for, resulting in a deterioration in our 2024 half-year results and leading us to consider all possible options regarding our roadmap."
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Oskar Guilbert