Yes.
In a standard publishing contract between a publisher and an independent developer, it works like this:
1.) The developer is paid in development milestones (first prototype, vertical slice, entering production, pre-alpha, alpha, beta, release, etc) where they get X million dollars to make a certain part of the game. The publisher pays 100% of these costs.
2.) When the game releases, the publisher gets 100% of all money the game earns, as almost all independent development is done with no royalties or royalty conditions that are basically impossible to hit.
3.) Sometimes there are bonuses for quality or project completion, but they're generally marginal and can only float a studio for a month's worth of staying open at most.
4.) Hugely prestigious developers like Bungie, Epic, or Respawn get deals where they share revenue and get great bonuses, but those are the extreme exception to the rule. Just assume that unless the publisher explicitly states they're doing a bonus/margin setup, that the developer isn't getting any extra money after the game gets gold.
5.) Due to this, an independent developer has to have another project signed up with a publisher to start immediately when the game they are working on goes gold as otherwise they will have to shut down.
This is why being more than like 10 people in a garage as an independent developer is extremely difficult, and most such studios have shut down or sold themselves to a publisher.