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Foundry 42 Financials Released
rpmcmurphy
Member EpicPosts: 3,502
in Star Citizen
£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
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
Comments
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.
..Cake..
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.
..Cake..
The subs could potentially be 5 million a year if we're giving it say ~30k active subs.
almost there boys
A bit too emotionally invested in the failure of the project no?
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.
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.
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.
Wa min God! Se æx on min heafod is!
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.