Star Citizen studio releases UK Annual Companies House Report for 2018

    
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Star Citizen and money: It’s one of MMO players’ favorite topics, right?

Back in December of last year, Star Citizen studio Cloud Imperium announced a $46M private investment in the company chiefly to speed up the release of Squadron 42. At the time, it brought the “total money valuation” of the studio to $496 million.

This week, the company has released its Annual Companies House Report to comport with UK law, specifically covering the 2018 period. “In 2018, the Cloud Imperium Group set a new high for revenue, play time, new players, game publishes and releases while also posting a small loss, £818k shown here in the UK filings,” CFO Simon Elms writes. “This was within our forecast as we continue to invest in growing the game, the company and the project.”

“Group turnover has increased in 2018 to £17.9m (2017: £16.96m) with higher engagement stemming from the quarterly releases of Star Citizen, allowing a greater number of users to play more sections of the game whilst it is being developed. Costs have also risen to £21.4m (2017: £18.2m) in line with the longer-term plans of the group, as it continues to progress the development and publishing of the games concentrating upon its release plans relative to its trading and funding position. Despite the £0.82m loss for the year the group still retained profit reserves of £2.9m as of 31 December 2018, and during the year the Company raised a further £17m from a minority equity investment, the UK part of the $46M worldwide investment into the Cloud Imperium Group made in 2018.”

Do note that the document is focused on UK activities, not US, and that a more comprehensive report is expected at the end of 2019.

Of course, the best part of this letter is that people will be “discovering” it five months from now and reporting parts of it as “new,” as they did last year.

Source: Official site, Reddit. Cheers, Quavers!
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Nosy Gamer

I think you embedded the wrong link to the CiG UK Annual Companies House Report. I think you meant this one.

https://cloudimperiumgames.com/blog/latest-announcements/annual-companies-house-report

And I think we need to wait until the company-wide report is released before making any judgments. This really isn’t enough to go on.

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Armsman

Waiting for “He Who Shall Not Be Named” to appear and claim it’s all smoke and mirrors and that Cloud Imperium Games will be Bankrupt in 90 days… ;)

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Ryan Bayne

As expected, healthy financial situation for an expanding business with plenty cards up its sleeve.

As a tester of the very latest builds, testing a great version within hours of this comment. I am full of confidence that CIG will enjoy impressive profits when Squadron 42 is released. Not just from sales of the single player edition but because thousands of players will become fans of the online game Star Citizen.

It will mean CIG are in a fantastic financial position when launching the online persistence universe.

If in doubt just visit the recent Twitch clip of a battle on DTOX_TV to get a little peak at what is coming.

Thanks for posting so quickly.

cmdr_cotic
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cmdr_cotic

Ewww…

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Roger Melly

Group turnover £17.9m compared to costs of £21.4m from the UK base of the operation alone . That part at least doesn’t sound that good to me .

A lot is going to ride on the success or failure of SQ42 . If that turns out to be an amazing game I expect interest and investment into Star Citizen to continue if it isn’t I expect it to diminish somewhat over the coming years .

Lets face it given its the end of 2019 now if we are being optimistic we are not looking at a release until 2023 for Star Citizen and its not out of the bounds of possibility it could be 2025 and beyond .

I hope they can pull it off because we need a successful new AAA mmo but the way they are selling ships and accepting 46 million from a private investment company the chances are if and when it does release it will be a pay to win fiasco that will only have a limited appeal to fans such as yourself who are willing to overlook such practices .

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Joe Blobers

@Roger contrary to SQ42 which will enter Beta then release state, there is no plan to provide any release date for SC. The game is being developed in parallel of SQ42 (getting all SQ42 assets after it is released as no more DNA is required) and will switch from “wipe anytime” status to no more wipe.

Your remark linking private investment and pay to win fiasco means you missed both points.
Private investment at this stage of development (SQ42 beta in 4 quarters) versus only 10 % of a company valued closed to 500m$ for “only” 235M$ pledges is a clear green flag of good profit (at minimum release of SQ42). Even more than healthy private investors don’t throw half a hundred M$ in a guaranteed failure.

Pay to win is nothing but a philosophical discussion in the case of SC. There are many threads discussing this very question and beside the fact no ships pledges equal to no SQ42/SC project, it have been demonstrated that the early owner/backer will have only a short time advantage.

Except those not interested by space game with the scope of SC + SQ42, I can’t see anyone (translate it as minimal % of individual) not purchasing SQ42 or SC just because they would have a few week/months disadvantage versus whales (which are a fraction of SC community), not whales (the majority of backers)… and 90 % of NPC’s.
Especially taking into account that current backers with minimal pledge can enjoy huge ships of various very different gameplay… by just joining an Org or group of individual.

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Ryan Bayne

What I feel is usually overlooked is the assets CIG holds. The tools they created to improve development alone keep them ahead of other studios. The game assets are incredibly transferrable. I am confident that this group of developers could create and release lesser games that profit if they were desperate.

Heck I would spend hours mining and trading alone after my recent testing. So this is how I look at things and less maths haha!

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NWG.Slum

#BDSSE