Top Adventure indie studios by revenue

indielist ranks 100 indie studios that ship Adventure games, by estimated revenue from their Adventure titles (white-box, Boxleiter-derived from Steam reviews). Leading is Larian Studios at ~$2772.1M. Estimates, not financials — open the formula on any game.

1. 1 Larian Studios top: Baldur's Gate 3 3 titles ~$2772.1M
2. 2 Unknown Worlds Entertainment top: Subnautica 2 titles ~$665.2M
3. 3 Coffee Stain Studios top: Satisfactory 1 title ~$445.3M
4. 4 Redbeet Interactive top: Raft 1 title ~$254.6M
5. 5 No Brakes Games top: Human Fall Flat 1 title ~$197.6M
6. 6 BlueTwelve Studio top: Stray 1 title ~$197.2M
7. 7 Expansive Worlds top: theHunter: Call of the Wild™ 1 title ~$189.5M
8. 8 System Era Softworks top: ASTRONEER 5 titles ~$182.2M
9. 9 Tarsier Studios top: Little Nightmares II 3 titles ~$168.4M
10. 10 Shiro Games top: Northgard: Definitive Edition 7 titles ~$168.2M
11. 11 ATLUS top: Persona 3 Reload 3 titles ~$152.8M
12. 12 Spike Chunsoft Co., Ltd. top: Danganronpa V3: Killing Harmony 3 titles ~$132.5M
13. 13 Skybound Games top: The Walking Dead: The Telltale Definitive Series 1 title ~$128.7M
14. 14 Daniel Mullins Games top: Inscryption 1 title ~$128.2M
15. 15 11 bit studios top: This War of Mine 2 titles ~$128.0M
16. 16 Hinterland Studio Inc. top: The Long Dark 2 titles ~$127.1M
17. 17 Pathea Games top: My Time at Portia 2 titles ~$123.6M
18. 18 CAPCOM Co., Ltd. top: Phoenix Wright: Ace Attorney Trilogy 4 titles ~$121.3M
19. 19 MINTROCKET top: DAVE THE DIVER 1 title ~$106.7M
20. 20 Campo Santo top: Firewatch 1 title ~$104.8M
21. 21 Supermassive Games top: The Quarry 2 titles ~$84.0M
22. 22 Gears for Breakfast top: A Hat in Time 1 title ~$76.6M
23. 23 OMOCAT, LLC top: OMORI 1 title ~$75.9M
24. 24 Crema top: Temtem 1 title ~$75.7M
25. 25 Lucas Pope top: Papers, Please 2 titles ~$72.4M
26. 26 Thunder Lotus top: Spiritfarer®: Farewell Edition 1 title ~$71.5M
27. 27 AIHASTO top: MiSide 1 title ~$71.3M
28. 28 ConchShip Games top: The Scroll Of Taiwu 1 title ~$69.0M
29. 29 Saber Interactive top: SnowRunner 1 title ~$68.6M
30. 30 Miju Games top: The Planet Crafter 1 title ~$67.7M
31. 31 Naughty Dog LLC top: UNCHARTED™: Legacy of Thieves Collection 1 title ~$66.7M
32. 32 MAXIS top: The Sims™ 4 1 title ~$60.5M
33. 33 Nomada Studio top: GRIS 1 title ~$60.1M
34. 34 IronOak Games top: For The King 5 titles ~$56.8M
35. 35 Dynamic Pixels top: Hello Neighbor 1 title ~$54.4M
36. 36 Klei Entertainment top: Don't Starve 1 title ~$52.2M
37. 37 Giant Sparrow top: What Remains of Edith Finch 1 title ~$51.9M
38. 38 Edmund McMillen top: Mewgenics 1 title ~$51.3M
39. 39 Thekla, Inc. top: The Witness 1 title ~$49.9M
40. 40 Black Salt Games top: DREDGE 1 title ~$48.8M
41. 41 MAGES. Inc. top: STEINS;GATE 1 title ~$46.7M
42. 42 inZOI Studio top: inZOI 1 title ~$46.4M
43. 43 The Swordman Studio top: Wandering Sword 1 title ~$45.3M
44. 44 Telltale Games top: The Walking Dead 1 title ~$45.1M
45. 45 Ink Stains Games top: Stoneshard 1 title ~$39.5M
46. 46 PuffballsUnited top: The Henry Stickmin Collection 1 title ~$39.2M
47. 47 Lazy Bear Games top: Graveyard Keeper 4 titles ~$38.1M
48. 48 Crows Crows Crows top: The Stanley Parable: Ultra Deluxe 1 title ~$37.4M
49. 49 Freebird Games top: To the Moon 1 title ~$37.2M
50. 50 Acacia top: Magical Girl Witch Trials 1 title ~$35.0M
51. 51 Team Bondi top: L.A. Noire 1 title ~$34.9M
52. 52 Tactical Adventures top: Solasta: Crown of the Magister 3 titles ~$34.4M
53. 53 Galactic Cafe top: The Stanley Parable 1 title ~$34.3M
54. 54 Stairway Games top: Coral Island 1 title ~$34.2M
55. 55 LEVEL5 Inc. top: Ni no Kuni™ II: Revenant Kingdom 1 title ~$34.2M
56. 56 WSS playground top: NEEDY STREAMER OVERLOAD 1 title ~$33.1M
57. 57 Sukeban Games top: VA-11 Hall-A: Cyberpunk Bartender Action 1 title ~$32.7M
58. 58 Beamdog top: Baldur's Gate: Enhanced Edition 2 titles ~$32.4M
59. 59 Killmonday Games AB top: Fran Bow 2 titles ~$32.4M
60. 60 Dojin Otome top: Summer Memories 2 titles ~$32.1M
61. 61 Double Cross top: Sultan's Game 1 title ~$31.7M
62. 62 Alawar Stargaze (Warm Lamp Games) top: Beholder 2 titles ~$31.4M
63. 63 Giant Squid top: ABZU 1 title ~$31.2M
64. 64 Future Cat LLC top: OneShot 1 title ~$31.1M
65. 65 Total Mayhem Games top: We Were Here Forever 4 titles ~$30.0M
66. 66 Owlcat Games top: Pathfinder: Kingmaker — Enhanced Plus Edition 1 title ~$29.8M
67. 67 Beam Team Games top: Stranded Deep 1 title ~$29.6M
68. 68 Stumpy🐙Squid top: Kingdom Two Crowns 1 title ~$29.4M
69. 69 Eleon Game Studios top: Empyrion - Galactic Survival 1 title ~$29.3M
70. 70 Traveller's Tales top: LEGO® Star Wars™ - The Complete Saga 1 title ~$28.8M
71. 71 Flaming Fowl Studios top: Gloomhaven 1 title ~$28.7M
72. 72 Bloober Team top: The Medium 1 title ~$28.6M
73. 73 Square Enix top: DRAGON QUEST® XI S: Echoes of an Elusive Age™ - Definitive Edition 1 title ~$26.8M
74. 74 Rundisc top: Chants of Sennaar 1 title ~$25.0M
75. 75 thatgamecompany top: Journey 1 title ~$24.9M
76. 76 Sabotage Studio top: Sea of Stars 1 title ~$24.8M
77. 77 Ice-Pick Lodge top: Pathologic 2 1 title ~$24.0M
78. 78 Amanita Design top: Machinarium 2 titles ~$24.0M
79. 79 Obsidian Entertainment top: Tyranny 1 title ~$23.8M
80. 80 Ubisoft Montpellier top: Valiant Hearts: The Great War™ / Soldats Inconnus : Mémoires de la Grande Guerre™ 1 title ~$23.4M
81. 81 Pixel Sprout Studios top: Sun Haven 1 title ~$23.1M
82. 82 Black Tabby Games top: Slay the Princess — The Pristine Cut 1 title ~$23.1M
83. 83 Fireproof Games top: The Room 4: Old Sins 4 titles ~$23.0M
84. 84 Infinite Fall top: Night in the Woods 1 title ~$22.8M
85. 85 League of Geeks top: Armello 1 title ~$21.7M
86. 86 Pine Studio top: Escape Simulator 2 titles ~$21.5M
87. 87 Altfuture top: Derail Valley 1 title ~$20.7M
88. 88 Dogubomb top: Blue Prince 1 title ~$20.7M
89. 89 Campfire Studio top: Soulmask 1 title ~$20.4M
90. 90 Foulball Hangover top: Hydroneer 2 titles ~$20.4M
91. 91 Alexander Bruce top: Antichamber 1 title ~$20.1M
92. 92 James Bendon top: Dinkum 1 title ~$19.7M
93. 93 Wrong Organ top: Mouthwashing 1 title ~$19.2M
94. 94 KEMCO top: Raging Loop 1 title ~$18.3M
95. 95 BioWare top: STAR WARS™ Knights of the Old Republic™ 1 title ~$18.2M
96. 96 Kit9 Studio top: The Coffin of Andy and Leyley 1 title ~$18.0M
97. 97 Buried Signal top: Gorogoa 1 title ~$17.3M
98. 98 Dingaling Productions top: LISA: The Painful 1 title ~$17.2M
99. 99 Modern Storyteller top: The Forgotten City 1 title ~$17.0M
100. 100 DONTNOD Entertainment top: Life is Strange 2 1 title ~$16.3M

Estimates only. How is this calculated?