Prepared for Altworks Studio · Kiyoko Mori, Head of Publishing
Prepared by Jordan Park, IndieBI Partner Analyst · jordan@indiebi.com
Reporting period Mar 1–31, 2026 · comparisons vs. Feb 2026 unless noted · all figures USD, net of platform fees.
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Altworks Studio · March 2026
01 · Summary
Total sales in March 2026
Across 17 active SKUs, 9 storefronts, 87 territories.
Net revenue · March 2026
$11.42M
+38.6% vs Feb 2026 · monthly revenue crossed $10M for the first time since the Holdfast: Age Of Sail DLC wave.
Units sold
412,091
+24.1% vs Feb. Avg. net price fell to $18.44 (−2.9%), consistent with the Spring Sale mix.
Refund rate
1.9%
+0.3pt vs Feb. Within the 1.4–2.2% band we consider healthy for your mix of indie PC titles.
Analyst note
March was a very strong month for Altworks, propelled largely by the Mirror Sky Spring Sale (Mar 14–21) and a favorable response to the launch of Kindling's first content update. Monthly net revenue surpassed $11M, more than 1.38× February's result.
Refund rate ticked up modestly, tracking a short-term spike on Neon Verdict (PS5) tied to a launch-week crash report. That's already being addressed in a hotfix shipping Apr 3; I'd expect the trailing 30-day rate to return to ~1.6% by end of April.
Please note that Meta / Oculus sales are underreported in the unit counts due to a known data issue on the platform's side (~36h delay on unit reporting, revenue unaffected). I'll restate the final number in the April report.
Key insights
Ranked by revenue impact this month.
1
Mirror Sky Spring Sale delivered +$2.1M above pacing
The −35% Spring Sale drove 8 days at $0.9M+ — unusually tight clustering. We recommend repeating the price point at Summer Sale and testing −40% on a shorter window to A/B the lift curve.
Opportunity
2
Kindling crossed 100K wishlists on Mar 18
Net-adds now growing +14.2% week-over-week. Worth front-loading paid wishlist acquisition before the summer event, which historically provides a 3–4× conversion lift for titles above the 100K mark.
Console-exclusive bug spike. Hotfix shipped Apr 3. We'll monitor — no action required from your side this month, but please include the fix note in your Apr 14 PSN patch review.
Watch
4
Brazil revenue +14.7% — now your 5th largest market
LATAM pricing revision in late Feb (regional pricing tiers 4 → 5) is working. We recommend a short-run regional discount pilot on Wayfarer and Harbor Drift in June; I'll model expected lift ahead of the next report.
Opportunity
Altworks Studio · March 2026 · Prepared by IndieBI Partner Programwe help sell more games.
Altworks Studio · March 2026
02 · Detail · Platforms
Revenue by platform in March 2026
Net of platform fees, in USD. Share of total and delta vs. February.
Net revenue — platform breakdown
March 2026 · shown as horizontal bars with absolute value labels
Platform
Revenue
Units
Share
Δ vs Feb
Avg. price
Steam
$6,992,104
261,800
61.2%
+42.1%
$26.71
PlayStation
$1,899,211
54,210
16.6%
+28.4%
$35.04
Xbox
$1,184,440
33,110
10.4%
+18.2%
$35.77
Nintendo Switch
$644,032
22,050
5.6%
−1.1%
$29.21
GOG
$284,601
19,400
2.5%
+6.8%
$14.67
Epic + other
$293,500
21,521
2.6%
+4.2%
$13.64
Caveat
Meta sales are underreported due to a data issue on the platform's side. Total revenue and share figures are accurate; units shown exclude an estimated ~1,800 Meta units. I'll restate next month once the feed backfill lands.
Altworks Studio · March 2026 · Prepared by IndieBI Partner Programwe help sell more games.
Steam
PlayStation
Xbox
Nintendo Switch
GOG
Epic + other
March was a very strong month for Altworks, propelled largely by the Mirror Sky Spring Sale (Mar 14–21) and a favorable response to the launch of Kindling's first content update. Monthly net revenue surpassed $11M, more than 1.38× February's result.
Refund rate ticked up modestly, tracking a short-term spike on Neon Verdict (PS5) tied to a launch-week crash report. That's already being addressed in a hotfix shipping Apr 3; I'd expect the trailing 30-day rate to return to ~1.6% by end of April.
Please note that Meta / Oculus sales are underreported in the unit counts due to a known data issue on the platform's side (~36h delay on unit reporting, revenue unaffected). I'll restate the final number in the April report.