Interim Report: January–March 2026

Paradox Interactive experienced a period of financial contraction during the first quarter of 2026, characterized by a 7 percent decline in revenue to MSEK 431.1 and a 31 percent reduction in operating profit, which fell to MSEK 100.8. This downturn reflects the impact of significant amortization and write-downs associated with major titles, specifically Vampire: The Masquerade - Bloodlines 2 and Europa Universalis V. Despite these setbacks, the company maintains a robust financial foundation, evidenced by an operating cash flow of MSEK 308.7 and cash and cash equivalents totaling MSEK 1,055. Management remains committed to a strategy of long-term growth, supported by the continued development of core franchises and a strategic transition toward the Nasdaq Stockholm Main Market.

The company’s revenue stream remains heavily concentrated within the PC segment, with the Steam platform serving as the primary driver by accounting for MSEK 336.2 of total quarterly earnings. While total assets decreased to MSEK 2,774 compared to the previous year, the firm’s liquidity position remains stable. Furthermore, the finalization of the purchase price allocation for the 2025 acquisition of Haemimont Games confirms the stability of previous financial reporting. In light of these results, the board has proposed a dividend of SEK 5.00 per share, signaling confidence in the company’s underlying stability despite the immediate fiscal challenges. The organization continues to prioritize the refinement of its existing portfolio and the execution of its long-term development roadmap to navigate the current market environment.