CD Projekt RED Has Two Unannounced Projects Still in Development

CD Projekt RED’s latest earnings call delivered a clear financial result and a deliberately limited pipeline update: CFO Piotr Nielubowicz confirmed that two projects are still in development but have not been announced. The company also reported a sharp rise in first-half profit and set out a three-year release plan centered on The Witcher. 18

The financial picture: revenue of PLN 435 million, profit of PLN 249 million

For the first half of 2026, CD Projekt RED reported PLN 435 million in revenue and PLN 249 million in consolidated net profit. The profit figure was 37% higher year over year, while net profitability reached 57.2%. 28

Licensing revenue reached PLN 95 million, supported by more than 100 partnerships, according to the earnings-call reporting. 7

What the CFO said about the unannounced projects

Nielubowicz said that two unannounced projects remain in the development phase. No names, formats, scopes, platforms, or launch windows were disclosed. 1

That number reflects a changing pipeline rather than a complete inventory of every project ever kept secret. Earlier in 2026, CD Projekt RED said Songs of the Past had previously been counted among its unannounced projects before its formal reveal. 13

Incentive-program target: PLN 2 billion remains achievable

The company said it believes it can meet the first incentive-program performance threshold: PLN 2 billion in cumulative net profit. 1

At the end of 2025, CD Projekt RED said it had reached 74% of the 2023–2026 target after three of the four years, with PLN 527 million still needed. 12 The H1 result strengthens the company’s position, but the supplied disclosures do not provide enough detail to establish final progress on a like-for-like basis or guarantee that the threshold will be reached.

The available source material does not sufficiently substantiate a definitive assessment of the subsequent PLN 3 billion stage. It should not be treated as a confirmed forecast of failure without a fuller primary transcript or company statement.

Confirmed Witcher releases through 2028

CD Projekt RED has announced a publishing sequence for The Witcher franchise:

• The Witcher 3: Wild Hunt – Remastered is scheduled for September 29, 2026. 8
• The Witcher 3: Wild Hunt – Songs of the Past is planned for 2027. 8
• The Witcher 4 has a target release window of 2028. 28

Songs of the Past is described as the third full expansion for The Witcher 3: Wild Hunt, with a scope comparable to Blood and Wine. 5 The project is co-developed with Fool’s Theory, and CD Projekt RED previously said around 190 developers—mostly from that partner—were working on it. 13

The expansion attracted 900,000 wishlists in its first week, a strong early signal of interest rather than a measure of sales. 5

What remains unknown about Cyberpunk 2 and Edgerunners 2

CD Projekt RED has identified Cyberpunk 2 and Cyberpunk: Edgerunners 2 among its revealed capitalized projects. 4 However, the information provided does not confirm an expected release date, team size, or detailed production status for Cyberpunk 2.

Likewise, the supplied material does not establish specific release plans or commercial-partnership terms for Edgerunners 2. The firm has confirmed that The Witcher 4, Cyberpunk 2, and Sirius are among the major areas of development investment, but it has not turned that into a public schedule for the next Cyberpunk game. 512

The key takeaway

CD Projekt RED’s update is strongest on what is already scheduled: a Witcher 3 remaster in 2026, Songs of the Past in 2027, and a targeted 2028 window for The Witcher 4. Financially, its first half was notably profitable. But the two remaining unannounced projects—and the timing and staffing of Cyberpunk 2—remain undisclosed. 18