On May 27, CD PROJEKT RED (CDPR) announced that the major DLC for The Witcher 3: Wild Hunt, titled “Old Times,” is expected to be released in 2027. CDPR had originally planned to disclose the news on May 28, but the information was leaked after being uploaded early to the RED Launcher, forcing the company to announce it one day earlier. On May 28, CDPR’s stock price fell by 2.06%.
Confirmed reasons for the stock price drop by analysts
Ipopema Securities analyst Michał Wojciechowski, speaking in an interview with Reuters, said the market had originally expected the DLC to launch in 2026, and the delay to 2027 disappointed investors. He also noted that the delay has raised concerns about whether The Witcher 4 will be pushed back to a 2028 release. A marketing plan misstep (caused by the leaked data forcing the early announcement) is another factor that has increased investor worries.
CDPR’s confirmed 2025 financial figures
CDPR’s 2025 financial report shows annual revenue of 860.7 million Polish zlotys (PLN), with net profit of 595.0 million PLN.
Co-CEO Michał Nowakowski said that the ongoing strong sales of Cyberpunk 2077 are the main reason for the company’s steady revenue. The company also sold its stake in the GOG platform at the end of 2025 for 90.7 million PLN to concentrate resources.
Confirmed updates: Rebel Wolves and The Witcher 4
The original game director of The Witcher 3, Konrad Tomaszkiewicz, has left CDPR to establish a new studio, Rebel Wolves, hiring team members including Cyberpunk 2077 writer Jakub Szamałek and The Witcher 3 art director Bartłomiej Gaweł. Its first game, Blood of Dawnwalker, is planned to launch on September 2026. CDPR had announced its plans for The Witcher 4 in 2024, changing the protagonist to Ciri.
FAQ
What is “Old Times,” and how long has it been since the last The Witcher 3 expansion?
“Old Times” is a new major DLC for The Witcher 3: Wild Hunt, expected to release in 2027. The previous expansion, Blood and Wine, was released in 2016, and the announcement of “Old Times” has been more than ten years ago.
Why did CDPR’s stock price fall after the DLC news was announced?
There are two main reasons: first, the data was leaked before the official announcement, leading to a marketing plan misstep; second, Ipopema analyst Michał Wojciechowski told Reuters that the market had originally expected the DLC to be released in 2026, and the shift to 2027 disappointed investors and raised concerns about the release schedule of The Witcher 4.
When will CDPR publish its next earnings report?
CDPR plans to release its Q1 2026 earnings report and hold a conference call at 5:30 p.m. Central European Time on May 28, 2026.
