Starbreeze Studios continues to report net loss in Q2 2022

The Swedish studio is having financial difficulties.
Starbreeze logo

Independent developer Starbreeze shared the financial report for Q2 2022, and the company is having financial problems. Despite this, the company managed to reduce its losses compared to the previous year.

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According to the report published on the company’s official website:

Net sales: SEK 31.8 million ($2.9 million), 0.8% decrease year-over-year
EBITDA: SEK 18.1 million ($1.6 million) up from SEK -51.8 million ($4.8 million) in Q2 2021
Net loss: SEK -11.2 million ($1 million), down from SEK -76.4 million (-$7.1 million) in Q2 2021

PAYDAY accounted for SEK 30.0 million ($2.8 million) of net sales. That shows the Payday franchise generated the majority of sales.

Depreciation, amortization, and impairment totaled SEK 14.8 million. Profit/loss before tax stated as SEK -10.8 million. Basic and diluted earnings per share totaled SEK -0.02.

In the second quarter of 2022, PC sales decreased by %9 and amounted to SEK 24.7 million (27.3). On the other hand, console sales increased by approximately 19% to SEK 5.5 million (4.6).

CEO Tobias Sjögren points out various factors for the company’s lack of profitability. He mentioned first half of 2022 was generally strong; however, factors like Covid-19 and the war in Ukraine generated a high level of uncertainty. He also mentioned Payday 3 and Payday 2 in his statement.

“The industry continues to see high player activity and strong demand for employees, although, like most other gaming companies, our sales volumes were down last year. The development of PAYDAY 3 continues according to our development plan, sales of PAYDAY 2 remain strong, and we continued to attract and recruit the right people in the first half of 2022.”

“The work on developing new content for PAYDAY 2 continues to be very ambitious. This is to ensure the high level of interest in the game and to maintain good sales, and also to provide the best possible conditions for the launch of PAYDAY 3.”

Starbreeze Studios are based in Stockholm. The studio’s portfolio includes games such as The Chronicles of Riddick: Escape from Butcher Bay, Payday 2, and Brothers: A Tale of Two Sons.

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