Team17 wraps up 2018 record revenue and profit results

Worms wranglers turned indie publisher posts year-end revenue of $57.38 million

Team17 wraps up 2018 record revenue and profit results

Premium UK indie publisher Team17 has ended 2018 with record results.

2018 was a particularly strong year for the company once best known for explosive worms. Team17 pushed out 12 new titles in 2018, with seven breaking ground for new IP.

Year-over-year revenue increased by 47 per cent, hitting $57.38 million (£47.3 million). Gross profit, meanwhile, shot up 18 per cent to reach $26.31 million (£19.8 million).

This followed promising H1 results recorded back in September when the publisher announced it had earned $20.1 million in the six months of 2018/2019 prior. The whole year figure suggests H2 was an even stronger bringer of revenue for the firm.

Team Effort

Thanks to this, Team17 was able to increase its headcount by around 30 per cent and has plans to continue a strong and steady output going into 2019.

“I’m delighted to report on an excellent year for Team17, delivering record revenues and operating profits in the period as well as successfully completing our listing on the Alternative Investment Market,” said CEO Debbie Bestwick MBE.

“This result was successfully driven by delivery of our ever-growing portfolio during 2018. We have continued to build upon the enviable track record of revenue and profit growth shown over previous years coupled with our ability to effectively manage the lifecycle of our games.”

Staff Writer

Natalie Clayton is an Edinburgh-based freelance writer and game developer. Besides PCGamesInsider and, she's written across the games media landscape and was named in the 2018 100 Rising Star list.