French developer Don't Nod said its revenue increased to €7 million in the first half of 2025, up from €1.8 million in the same period last year.
The developer attributed this growth to the integration of its latest release Lost Records: Bloom & Rage into PlayStation Plus.
However, it noted that the title “remained at the level of expectations”, resulting in a write-off of €13.1 million.
Don't Nod reported a 5% fall in operating revenue to €13.9 million and noted a “decline in capitalized production” of €5.9 million.
This reflected the completion of Bloom & Rage and the suspension of two projects (P12 and P13).
Last October Don't Nod announced implementation of the “reorganization project” after “deteriorating results” in the first half of 2024.
This period was particularly affected by the poor performance of Banishers: Ghost of New Eden and Jusant.
At the time, the studio said 69 jobs in France were at risk for its employees. After this announcement, Don't Nod employees went on strike on November 8th..
In its latest results, Don't Nod said it had completed a “reorganization [its] Paris Studio” until the end of August 2025.
The firm reported “estimated operating savings (excluding costs of the reorganization plan) for the 2025 financial year, corresponding to an annual target of €5 million.”
As for the Montreal studio, Don't Nod carried out a series of layoffs upon completion of Bloom & Rage in June 2025.
Don't Nod said this “reallocation of resources” resulted in “an estimated cost reduction of €1.1 million for the full year.”
Looking ahead, Don't Nod highlighted that the second half of 2025 will see progress in the development of the new Aphelion IP (known as P10), which is expected to be released next year.
The company also announced an agreement with Netflix to create a “new narrative video game based on the core IP,” which is currently in development at its Montreal studio.
Don't Nod said the collaboration “marks a new milestone” that “reaffirms its position as a storytelling specialist for major IPs and its commitment to exploring new formats, including cloud gaming.”
“The first half of the year was characterized by strong revenue growth and the initial impact of our performance plan, the full benefits of which will materialize in the second half of the year,” said Don't Nod CEO Oscar Gilbert.
“We will continue our efforts to protect and develop our intellectual property through co-productions, as well as participating in projects based on external licenses.”
Gilbert continued: “Together with all of our teams, we will continue to maintain and promote our unique identity, based on strong, critically acclaimed storytelling experiences and powerful gameplay mechanics.”
