Starbreeze H1 2024 Financial Results

Starbreeze’s financial results for the first half of 2024 reveal a period of significant revenue growth coupled with a substantial increase in net losses. The Swedish developer reported total revenue of SEK 96.8 million ($9.46 million), representing a 38.5% increase compared to the same period in 2023. Despite this top-line growth and a 211% surge in EBITDA to SEK 56.5 million ($5.5 million), the company’s net loss widened significantly to SEK 91.7 million ($8.95 million), up from a nominal loss of SEK 194k in the first half of the previous year.

Performance across the company’s portfolio was mixed. Payday 3 generated $4.4 million in revenue during the first six months of 2024, maintaining a monthly active user base of approximately 300,000 as of June 30. Conversely, revenue from the legacy title Payday 2 declined by 71% year-over-year to $1.96 million. Third-party publishing efforts provided a secondary revenue stream of $2.54 million, bolstered by the continued performance of titles such as Roboquest and The Tribe Must Survive.

Looking ahead, Starbreeze is prioritizing the expansion of the Payday 3 ecosystem through increased content updates to drive future revenue. Simultaneously, the company has moved its upcoming Dungeons & Dragons-based project, Project Baxter, into full production. Developed in Unreal Engine 5 as a co-op live service game, the title is slated for a 2026 release. The company intends to maintain its current strategic focus on developing proprietary franchises while leveraging third-party licensing and seeking external partnerships for marketing and distribution to optimize resource allocation.