Starbreeze Continues to Operate at a Loss Despite Reduced Deficit in Q2

Starbreeze has released its financial report for the quarter ending June 30th, 2021, revealing the studio's ongoing struggle to achieve profitability despite continued work on Payday 3. Key highlights include: - Net sales of SEK 31.8 million ($2.9 million), representing a 0.8% year-over-year decline - EBITDA of SEK 18.1 million ($1.6 million), a significant improvement from SEK -51.8 million ($4.8 million) in Q2 2021 - A net loss of SEK -11.2 million ($1 million), down from SEK -76.4 million ($7.1 million) in the same period last year A closer examination of Starbreeze's Q2 financials reveals that the Payday franchise drove the majority of sales, accounting for SEK 30 million ($2.8 million) or 96.5% of total net sales during the quarter. PC sales experienced a 9% decline to SEK 24.7 million ($2.3 million), while console sales saw a 19% increase to SEK 5.5 million ($500,000). The company noted a decline of over 25% in Payday 2 sales at the start of the quarter and anticipates a further decline in Q3, attributing this to intense competition from other game releases in the first half of the year. Although net sales showed a slight improvement, the developer remains in a net loss position, albeit with a reduced deficit compared to the same period last year. Starbreeze also announced the initiation of development on a new game IP during the quarter, targeting a 2025 release. Payday 3 development is progressing as planned, with an expected launch in 2023 following a €50m publishing agreement with Plaion (formerly Koch Media).