The Farm 51 Group S.A., a game and simulation technology developer listed on the NewConnect market, increased its cumulative sales revenue by 16% year-on-year to PLN 3.5 million after the first three quarters of 2025. From January to September, EBITDA rose by nearly 40% to PLN 5.6 million, while net profit decreased to PLN 1.2 million compared with PLN 1.5 million in the same period last year. In the third quarter, the company continued intensive development work on its two key productions — Chernobylite 2: Exclusion Zone and Wardevil, which form the strategic foundation for building long-term value.
To support continued development of its projects, The Farm 51 is carrying out actions related to the issuance of up to PLN 11.5 million in Series L ordinary bearer shares through a closed subscription, with pre-emptive rights for existing shareholders. The information memorandum for the offering will be published on 14 November.
Strategic Focus on Game Production and Dual-Use Drone Technologies
“In the third quarter, we focused on progressing with Chernobylite 2 and preparing for full-scale production of Wardevil, while simultaneously developing dual-use drone technologies — the second major pillar of our strategy. It is worth highlighting that stable revenues from the first version of Chernobylite demonstrate the brand’s value and our ability to create games with long sales cycles. Meanwhile, the development of drone technologies that bridge entertainment with professional and military applications provides a solid foundation for the company’s future growth,”
says Wojciech Pazdur, CEO of The Farm 51.
In Q3 2025, the company updated its development strategy with a focus on two central business areas:
- Production of AA/AA+ video games
- Development of dual-use drone technologies
The aim of this strategy is to strengthen the company’s position as an independent game producer while taking advantage of the growing market potential for drone technology across entertainment, training, and industrial applications.
Chernobylite 2 and Wardevil: Key Long-Term Projects
The Farm 51 continues work on Chernobylite 2: Exclusion Zone, the largest project in the studio’s history. The full release is scheduled for Q1 2026 on PC, PlayStation 5, and Xbox Series X|S.
The second strategic title is Wardevil, a military survival FPS with stealth elements. The game already has a playable demo, and full production will begin in 2026. Wardevil is being developed for the AA+ segment and global distribution.
Drone Simulation Technologies and R&D Capabilities
The company is also developing the WRE-BSL project, which involves creating simulation technologies for combat drones to be used in games, operator training, industrial projects, and military applications.
The Farm 51 has advanced R&D infrastructure, including:
- A modern research laboratory
- A 3D studio equipped with Poland’s most precise human body scanner
- Proprietary computing servers
- Professional video and photography facilities
These assets further confirm the company’s technological capabilities.
Series L Share Issue: Up to PLN 11.5 Million to Fund Key Projects
In early November, an Extraordinary General Meeting approved a closed subscription for Series L ordinary bearer shares, with pre-emptive rights for current shareholders. The company aims to raise up to PLN 11.5 million, offering a maximum of 1,153,913 shares with:
- Nominal value: PLN 0.10 per share
- Issue price: PLN 10.00 per share
The proceeds will be allocated to:
- The marketing campaign for Chernobylite 2
- Development of Wardevil
- Continued work on dual-use drone projects
“The funds raised from the Series L share issuance will enable us to effectively promote Chernobylite 2, produce Wardevil, and continue developing advanced drone projects. This financial support allows us to execute our strategy of combining game development with simulation technologies, which will be the foundation of our future projects,”
adds Robert Siejka, Vice President of The Farm 51.
Offering Timeline
- Subscription period: 17–28 November
- Share allocation: 9 December
- Information memorandum publication: 14 November
- Available on the company’s website and the website of BDM Brokerage House (BDM S.A.)
