Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Foundry 42 Financials Released

rpmcmurphyrpmcmurphy Member EpicPosts: 3,174
£1 GBP = $1.35 USD as of December 2017

284 staff up to June 2017
Wage costs up to this period = £5.25 million sterling
Cost of sales for this period = £9.16 million sterling

318 staff up to December 2017
Wage costs up to this period = £6.80 million sterling
Cost of sales for this period = £10.3 million sterling

For the year:
Wage costs = £12.05 million ($16.27 million)
Studio costs per employee = £19.46 million / 301 = £64,651 per head ($87,278)

For 500 staff we can comfortably say that it is costing them a minimum of $43 million for the year based on the above, however we also know costs for US staff are quite a lot higher than their EU counterparts.

https://beta.companieshouse.gov.uk/company/08703814/filing-history
«13456713

Comments

  • MaxBaconMaxBacon Member EpicPosts: 6,736
    Yeah, that pretty much confirms the 500 employees number that was mentioned, 318 up to the end of last year makes the UK office represent over 60% of the company.

    The good side of financials is that it kinda teaches the scam theorists that defend money is not going back into game-dev of the real costs of maintaining a studio on that scale; with them crowdfunding around 35million a year.
    Gdemami
  • BabuinixBabuinix Member EpicPosts: 2,113
    edited August 2018
    Makes all the sense to have 60% of your company costs in a country with a 25% video game tax break.

    Just another genius move by CIG folks and again completely shiitting on the disingenuous "imminent collapse" and "mismanagement" FUD campaign from the last years by the sad and desperate haters lol

    I wonder if the more livid haters living in the UK realise that their tax money is helping Star Citizen's development... would they ponder to move country? They could even use brexit as an excuse lol :D
    rpmcmurphyGdemamimmolouSlapshot1188AlmostLancelotbwwianakievMrMelGibsonnatpickMaurgrimVitaminK
  • sgelsgel Member RarePosts: 2,094
    So where are they are getting the rest of the funding from?

    ..Cake..

  • rpmcmurphyrpmcmurphy Member EpicPosts: 3,174
    Choking on some hate there Babs?
  • MadFrenchieMadFrenchie Member LegendaryPosts: 8,483
    Babuinix said:
    Makes all the sense to have 60% of your company costs in a country with a 25% video game tax break.

    Just another genius move by CIG folks and again completely shiitting on the disingenuous "imminent collapse" and "mismanagement" FUD campaign from the last years by the sad and desperate haters lol

    I wonder if the more livid haters living in the UK realise that their tax money is helping Star Citizen's development... would they ponder to move country? They could even use brexit as an excuse lol :D
    You really should curb your constant baiting.
    Octagon7711KefoXodicKyleranBeezerbeez

    image
  • BabuinixBabuinix Member EpicPosts: 2,113
    edited August 2018
    Babuinix said:
    Makes all the sense to have 60% of your company costs in a country with a 25% video game tax break.

    Just another genius move by CIG folks and again completely shiitting on the disingenuous "imminent collapse" and "mismanagement" FUD campaign from the last years by the sad and desperate haters lol

    I wonder if the more livid haters living in the UK realise that their tax money is helping Star Citizen's development... would they ponder to move country? They could even use brexit as an excuse lol :D
    You really should curb your constant baiting.
    Not bate mate, just an observation lol

    For all the shit CIG and it's staff got all these years it's always worth it to remember just how false and mischievously ridicule those accusations were and how dumb and useless the #drama that surrounded it was and still is lol

    Besides,  everyone knows that there's no Star Citizen haters living on UK on this thread :D
    rpmcmurphymmolou
  • rpmcmurphyrpmcmurphy Member EpicPosts: 3,174
    Are you really claiming that you are fighting for CIG's honour?
  • BabuinixBabuinix Member EpicPosts: 2,113
    Are you really claiming that you are fighting for CIG's honour?
    If laughing at those that for the past 3 years have been trying to fabricate drama about CIG finances, staff leaving, studios closing, imminent collapses and whatnot is fighting for CIG's honours maybe I am lol :D
    Plonky
  • MadFrenchieMadFrenchie Member LegendaryPosts: 8,483
    Babuinix said:
    Babuinix said:
    Makes all the sense to have 60% of your company costs in a country with a 25% video game tax break.

    Just another genius move by CIG folks and again completely shiitting on the disingenuous "imminent collapse" and "mismanagement" FUD campaign from the last years by the sad and desperate haters lol

    I wonder if the more livid haters living in the UK realise that their tax money is helping Star Citizen's development... would they ponder to move country? They could even use brexit as an excuse lol :D
    You really should curb your constant baiting.
    Not bate mate, just an observation lol

    For all the shit CIG and it's staff got all these years it's always worth it to remember just how false and mischievously ridicule those accusations were and how dumb and useless the #drama that surrounded it was and still is lol

    Besides,  everyone knows that there's no Star Citizen haters living on UK on this thread :D
    My point was there was none of that in this thread until you brought it in with preemptive insults.  It only invites their response.
    Octagon7711mmolouEponyxDamorKyleranMrMelGibson

    image
  • BabuinixBabuinix Member EpicPosts: 2,113
    edited August 2018
    Babuinix said:
    Babuinix said:
    Makes all the sense to have 60% of your company costs in a country with a 25% video game tax break.

    Just another genius move by CIG folks and again completely shiitting on the disingenuous "imminent collapse" and "mismanagement" FUD campaign from the last years by the sad and desperate haters lol

    I wonder if the more livid haters living in the UK realise that their tax money is helping Star Citizen's development... would they ponder to move country? They could even use brexit as an excuse lol :D
    You really should curb your constant baiting.
    Not bate mate, just an observation lol

    For all the shit CIG and it's staff got all these years it's always worth it to remember just how false and mischievously ridicule those accusations were and how dumb and useless the #drama that surrounded it was and still is lol

    Besides,  everyone knows that there's no Star Citizen haters living on UK on this thread :D
    My point was there was none of that in this thread until you brought it in with preemptive insults.  It only invites their response.
    Oh don't worry that would never happen, that would be them acknowledging their shady tactics in public or even worse, having to admit they were in the wrong lol
  • MaxBaconMaxBacon Member EpicPosts: 6,736
    edited August 2018
    sgel said:
    So where are they are getting the rest of the funding from?
    I would bet they have extra sources of income, partnerships or so. There is also the subscriptions but I don't think they have enough subs alone to cover it all.

    The huge growth of the studios is really unexpected, not to this point at least, especially with all the "they're running out of money" debates that ignited back then, and that was when the company had 200 employees.
  • sgelsgel Member RarePosts: 2,094
    MaxBacon said:
    sgel said:
    So where are they are getting the rest of the funding from?
    I would bet they have extra sources of income, partnerships or so. There is also the subscriptions but I don't think they have enough subs alone to cover it all.

    The huge growth of the studios is really unexpected, not to this point at least, especially with all the "they're running out of money" debates that ignited back then, and that was when the company had 200 employees.
    I doubt they get ~10mil a year from partnerships.

    ..Cake..

  • MaxBaconMaxBacon Member EpicPosts: 6,736
    sgel said:
    I doubt they get ~10mil a year from partnerships.
    Depends, if it involves stuff like self-created technology and such those type of things could easily involve big bucks.

    The subs could potentially be 5 million a year if we're giving it say ~30k active subs.
    Gdemami
  • LugoVinzentLugoVinzent Member UncommonPosts: 4
    edited August 2018
    boy boy! they are desperate trying to stay afloat with some more forced numbers to show their backers how the company is growing

      
    almost there boys
    Xodicaummoid
  • OldSchoolGamerOldSchoolGamer Member UncommonPosts: 223
    So what this is telling us is that 500 people can't put out the original game design or Squadron 42 and is over three years past due.  Ya, I'd call that a serious problem.
    ScotchUpRhoklaw
  • MaxBaconMaxBacon Member EpicPosts: 6,736
    edited August 2018
    Oh lol that graph, not only this confirms the company growth, the funding is as stable as before, reality vs what you want to believe reality is, lol 

    A bit too emotionally invested in the failure of the project no?
    VitaminK
  • ErillionErillion Member EpicPosts: 9,533
    New CLOUD IMPERIUM GAMES UK LIMITED  financials have been released.



    Have fun


  • MaxBaconMaxBacon Member EpicPosts: 6,736
    As that company holding the large sum is the cayman islands registered with no history, but they were raising money, that would be no surprise I already defended they had more funding sources than the crowdfunding itself considering the continuous growth and scaling of their costs, as seen by the every UK financials release over the years.

    Not that every money injection or company change people speculated the company was near bankruptcy, what was not the case. The company has been sustaining growth, it has a large scale so it can also resort to downscaling if necessary.

    As in terms of crowdfunding, they're going for the biggest year yet this month.
    Gdemami
  • ErillionErillion Member EpicPosts: 9,533
    edited December 2018
    >>> cayman islands >>

    Read ... save taxes, make profit ....

    I guess with BREXIT imminent, the Channel islands like Jersey, Guernsey and Herm are not as attractive as tax paradise as they once were.


    Have fun
    rpmcmurphy
  • MaxBaconMaxBacon Member EpicPosts: 6,736
    edited December 2018
    It's hard to understand the full scope of Brexit on development studios in the UK.

    If that starts making other things attractive, but CIG is one American company so UK is just part of their operations, their finances show they just literally invest on the UK and optimize costs from there.

    The reason why don't even bother with worries is that with a constant stream of dozens of millions in funding yearly they do have a maneuverability that a game dev company with a fixed budget has not.


    The interesting bit is that they do insist on extra funding sources and continuous growth beyond what the crowdfund is estimated to be capable to sustain.
    Gdemami
  • ErillionErillion Member EpicPosts: 9,533
    >>> and continuous growth  >>>

    If i would be head of a game developing company, i would look beyond the current game i am working on.

    Star Citizen is laying down the foundations in technology and pipelines.

    What game other than SC will they work on in 5 years, in 8 years .... in addition to Star Citizen "DLCs" and maintaining the SC server infrastructure  ?

    Should they branch out ? Star Citizen mobile game companion apps ?  Novels ? Models and 3D printing ? Roleplaying game ? MOVIE ?! Board game  (as they already have one for the SC economy).


    Have fun

    Gdemami
  • MaxBaconMaxBacon Member EpicPosts: 6,736
    edited December 2018
    In terms of fillings, today's one points CIG is doing something with the CIG UK company: https://i.imgur.com/t5ny3aE.png


    https://beta.companieshouse.gov.uk/company/08815227/filing-history

    It seems the company has a new director, one lawyer.
    https://oandapc.com/dan-offner/

    Seeing the biography he is one entrepreneur, he was an early investor on Oculus up to its billions sale to Facebook, this could be who the 23 million investment relates to.
  • ErillionErillion Member EpicPosts: 9,533
    Interesting.

    Looks like this guy has the money, the business experience in the video game industry and the angel investor attitude.

    Nothing Star Citizen related is listed on his website (yet)


    Have fun


  • AethaerynAethaeryn Member RarePosts: 2,982
    MaxBacon said:
    Yeah, that pretty much confirms the 500 employees number that was mentioned, 318 up to the end of last year makes the UK office represent over 60% of the company.

    The good side of financials is that it kinda teaches the scam theorists that defend money is not going back into game-dev of the real costs of maintaining a studio on that scale; with them crowdfunding around 35million a year.
    And my wife wonders why I can't make a game like "the kids play" and get rich :)
    Erillion

    Wa min God! Se æx on min heafod is!

  • MaxBaconMaxBacon Member EpicPosts: 6,736
    edited December 2018
    Yeah, I searched him up, Dan Offner is one of the top veteran entertainment lawyers around and investor.

    Considering the changes on shares and his name popping up becomes likely he his who is behind dozens of millions invested in SC.

    But I don't know why would his name directly join CIG as a director and not one of his companies.

    Gdemami
Sign In or Register to comment.