Starbreeze still operating at a loss, net sales down 4.7% in Q2

Starbreeze has released its financial results for the three months ended June 30, 2021, as the studio continues to suffer losses as development of Payday 3 continues.

Numbers

  • Net sales: SEK 31.8 million ($2.9 million), down 4.7% year-on-year
  • EBITDA: 18.1 million SEK ($1.6 million) compared to -51.8 million SEK ($4.8 million) in the second quarter of 2021
  • Net loss: -11.2 million SEK ($1 million), compared to -76.4 million SEK (-7.1 million) in Q2 2021

The strong points

Looking in more detail at Starbreeze’s second quarter financial statements, a large majority of sales were driven by the Payday franchise, which accounted for SEK 30 million ($2.8 million) in the three months, or 96 .5% of total net sales.

During the quarter, PC sales were down 9% to SEK 24.7 million ($2.3 million), while console sales saw a 19% increase to 5.5 million. of SEK ($500,000).

The company noted that Payday 2 sales were down more than 25% at the start of the quarter and added that it also expects a decline in the third quarter. Starbeeze cited a high number of competitive game releases in the first half of the year as the reason for the declines.

While net sales improved slightly, the developer still posted a net loss, although a smaller loss than the same period last year.

Starbreeze also noted that it began development on a new gaming IP during the quarter, slated for release in 2025.

Development on Payday 3 is still ongoing and is expected to launch in 2023, following a €50 million publishing deal with Plaion (formerly Koch Media).

Ann J. Cox