Starbreeze has recently unveiled its full-year financial outcomes, marking its first pre-tax profit since its financial struggles in 2018. The release of Payday 3 in September proved to be a pivotal moment for the company, despite CEO Tobias Sjögren acknowledging that both sales and player engagement are not at the desired levels.
Here’s a breakdown of the key figures:
Fourth Quarter (Q4)
Net sales: SEK 69.2 million ($6.6 million), marking a remarkable 106% increase year-on-year.
Loss before taxes: SEK 91.5 million ($8.8 million), a notable contrast to the loss of SEK 12.3 million ($1.2 million) in the same period last year.
Full Year
Net sales: SEK 633.5 million ($60.6 million), demonstrating a substantial surge of 396% compared to the previous year.
Profit before taxes: SEK 207.7 million ($19.9 million), a significant turnaround from the loss of SEK 54.4 million ($5.2 million) in the preceding year.
Key Highlights
The release of Payday 3 holds immense significance for Starbreeze, marking its first major launch since its near-collapse in 2018. Despite encountering challenges, Sjögren asserts that Starbreeze remains resilient, boasting a healthy cash position and a debt-light balance sheet.
The multiplayer heist shooter contributed SEK 36.2 million ($3.5 million) to Starbreeze’s Q4 sales and has accumulated SEK 477 million ($45.7 million) since its September debut. Comparatively, Payday 2 generated SEK 18.3 million ($1.8 million) in Q3 net sales, a 44% decline year-on-year, and SEK 139.1 million ($18.5 million) for the full year, down 14%.
Upon its launch, Payday 3 encountered technical hurdles, with Sjögren acknowledging infrastructure issues impacting its performance. Sales initially fell below expectations, with Embracer Group, the owner of Payday 3 publisher Plaion, remarking that the game underperformed.
Nevertheless, Sjögren remains optimistic about Payday 3’s potential for a turnaround, drawing parallels with successful industry precedents. He emphasizes the importance of heeding player feedback, actively supporting the game, and maintaining transparent communication with stakeholders—a strategy Starbreeze is now implementing.
The primary focus moving forward is to address player concerns and elevate Payday 3 to meet expectations. The development team is diligently working on enhancements, including single-player and offline modes.
Looking ahead, Sjögren outlines Starbreeze’s strategic vision, aiming to cultivate a robust and diversified portfolio through a blend of owned IP, licensed ventures, and publishing endeavors. Alongside Payday 3, the company is actively developing a Dungeons & Dragons games-as-a-service title, known internally as Project Baxter.
