Frontier Developments plc (LON:FDEV), a leading developer and publisher of video games based in Cambridge, UK, has published its unaudited interim results for the 6 months to 30 November 2025.
FINANCIAL SUMMARY & HEADLINES
| H1 FY26(6 months to 30 November 2025) | H1 FY25(6 months to 30 November 2024) | H1 to H1Increase | H1 to H1Increase % | |
| Revenue | £59.6m | £47.3m | £12.3m | +26% |
| Adjusted Operating Profit* | £9.7m | £5.5m | £4.2m | +76% |
| IFRS Operating Profit | £7.8m | £4.5m | £3.3m | +73% |
| Cash balance at period end | £40.1m | £27.2m | £12.9m | +47% |
· Highly positive player responses to new game Jurassic World Evolution 3 helped deliver H1 revenue growth of 26% and an increase in Adjusted Operating Profit* of 76%.
· Following the growth achieved in H1 and a strong seasonal sales performance entering H2, we raise our FY26 financial guidance to revenue of around £100 million and Adjusted Operating Profit* of around £11 million.
· Planet Zoo has become Frontier’s highest grossing individual game by revenue, providing a solid foundation for release of a sequel, and for Frontier’s overall performance, in FY27.
* Adjusted Operating Profit measures Frontier’s financial performance after eliminating non-cash development cost accounting adjustments (cost capitalisation, amortisation charges and impairment charges), non-cash share charges, non-operating items (including restructuring costs), and after recording the full benefits of tax and R&D expenditure credits against the expenditure they relate to.
H1 FRANCHISE UPDATES – THE CMS STRATEGY IS DELIVERING
Revenue from Frontier’s genre-leading creative management simulation (‘CMS’) games increased 52% versus the comparative period, delivering 90% of total revenue in H1 FY26 (H1 FY25: 75%), driven by October’s release of Jurassic World Evolution 3, which earned nominations at the Game Awards 2025 and the BAFTA Games Awards 2026.
Inspired by the Universal Pictures and Amblin Entertainment films, Jurassic World Evolution 3 continues to connect with new players. After the end of the Period, Jurassic World Evolution 3 achieved an excellent sales performance in December, including a Frontier Christmas Day sales record for an individual game, to start the second half of the financial year strongly.
The success of Jurassic World Evolution 3 underscores the enduring strength and scalability of the CMS model, and Frontier’s ability to deliver compelling games for its player communities. Alongside the success of the new game, the Jurassic World Evolution game franchise benefitted in H1 from strong sales of Jurassic World Evolution 2 during summer promotions, and ongoing sales of Jurassic World Evolution.
H1 sales for the Planet Coaster franchise were slightly ahead of expectations, building on proactive community engagement and new content for Planet Coaster 2, including the Sorcery Pack and free updates. With the Toybox Pack launching post-period end in December to positive reception, the franchise is well positioned for long-term performance.
Planet Zoo delivered an excellent revenue contribution in H1, becoming Frontier’s highest grossing individual game by revenue, as it continues to lead in its genre and engage with a substantial community of players. This bodes well for its sequel, coming in FY27.
Development is progressing well on the unannounced CMS title scheduled for release in FY28, further strengthening the portfolio and support Frontier’s strategy of delivering high-quality, evergreen franchises.
Outside CMS, the ever-evolving Elite Dangerous space simulation game delivered revenue growth of over 50% versus the comparative period, driven by new content, ships, and sustained player engagement. Meanwhile, Frontier’s team in Canada, Complex Games, are on track with the development of an unannounced game, which is scheduled for release in FY27.
CEO APPOINTMENT – A SMOOTH TRANSITION
As first announced on 16 December 2025, Jonny Watts, who served as CEO from August 2022 and led Frontier’s successful turnaround and strategic refocus on CMS games, formally stepped down as CEO on 1 January 2026. Jo Cooke, previously Chief Marketing Officer, assumed the CEO position and joined the Board on the same date, bringing extensive industry experience and having played a key role in the successful launch of Jurassic World Evolution 3. Jonny will remain on the Board as an Executive Director until 31 May 2026 to support a smooth transition.
TRADING AND OUTLOOK – GUIDANCE UPGRADE
After the end of the Period, strong sales across the portfolio in seasonal price promotions delivered Frontier’s second highest-ever December revenue. Based on Frontier’s financial performance in the first seven months of the financial year, the Board are now upgrading FY26 financial guidance to revenue of around £100 million and Adjusted Operating Profit* of around £11 million.
Jonny Watts, Frontier Developments Executive Director and outgoing CEO, said:
“I’m incredibly proud of what Frontier has achieved in the first half of FY26 and in recent years. The success of Jurassic World Evolution 3 and the strength of our CMS portfolio are a testament to the talent and dedication of our team. I am delighted that we have successfully restored Frontier to a position of consistent, sustainable growth and profitability. Frontier is well placed for the future, and I look forward to supporting Jo and the team through this transition.”
Jo Cooke, Incoming CEO, said:
“As we look ahead, Frontier is in an excellent shape to build on the strong foundations established in recent years. I again want to thank Jonny for his leadership and the pivotal role he played in shaping our strategy and restoring growth. Jonny’s efforts have left the business and our CMS-focused roadmap in a fantastic place for the future. With a talented team and a robust pipeline of exciting new games and additional content for existing games, we remain committed to this strategy, listening to our players and delivering exceptional experiences to them and long-term value for our shareholders.”
There will be a call for analysts and institutional investors at 9:30am today. To register, please contact frontier@teneo.com.
