Monday, January 2, 2023

Cloud Imperium Games Records $113.6 Million In Sales For 2022

The Nosy Gamer is not becoming a Star Citizen blog. But with financial figures for both 2021 and last year coming out within three days of each other, I decided to dedicate two posts to Cloud Imperium. Yesterday I covered Cloud Imperium's 2021 financial report released on Monday. Today's article looks at the information we know about 2022.

The funding counter which records sales of Star Citizen and Squadron 42 finished the year at $539.8 million for the history of the project. For December, CIG finished with $8.1 million, making the 2022 total sales amount $113.6 million. Cloud Imperium's confirmed revenue since its founding in April 2012 is now $621.8 million, broken into the following categories:

  • Sales/Pledges: $539.8 million (through 31 December 2022)
  • Subscriptions: $27.8 million (through 31 December 2021)
  • All other sources: $54.2 million (through 31 December 2021)

We also learned in 2022 Cloud Imperium added 113 employees. The financial report let us know the headcount at the end of 2021 was 748. In Friday's Letter From The Chairman, CIG's CEO Chris Roberts revealed the headcount at the end of 2022 was 861. Combine that with the 139 open positions currently posted on the Cloud Imperium website and CIG plans to expand the workforce another 15% up to 1000 employees in 2023.

Now for a bit of a prediction for what players will see when the 2022 financial report comes out in December. Between expanding the workforce by 15%, additional capital expenditures required due to moving into the Frankfurt and Manchester offices, as well as general inflation, I expect to see another increase in CIG spending of 25% (spending in 2021 increased by 24.2%). Such an increase would raise CIG's burn rate to $10.5 million per month, or $126 million for the year. While the $113.6 million in sales did not cover the amount, subscriptions and other sources of income increased overall revenue to $128 million. At least, if my assumptions hold true based on CIG's recent history. So expect the company to post another profit in approximately 51 weeks.

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