Starbreeze Interim Report: April – June 2023

Key insights

6 takeaways

01
Starbreeze reported net sales of SEK 43.2 million for Q2 2023, a 36% increase compared to the same period in 2022, with 99% of revenue driven by the PAYDAY 2 franchise.See it on page 2
02
The company significantly improved its cash position, ending the quarter with SEK 498.8 million in cash and cash equivalents, up from SEK 86.3 million in the prior year period.See it on page 13
03
Profit before tax for Q2 2023 was SEK 24.1 million, a marked improvement over the loss of SEK 10.8 million reported in Q2 2022, bolstered by a one-time positive income effect of SEK 13.3 million from renegotiating a convertible loan.See it on page 9
04
Total cash flow for the quarter was SEK 390.5 million, largely driven by a new share issue and game financing received from Plaion for the development of PAYDAY 3.See it on page 14
05
Investments in internal game and technology development reached SEK 91.7 million for the first half of 2023, compared to SEK 67.4 million during the same period in 2022.See it on page 14
06
The company successfully reclassified SEK 362.6 million in non-current liabilities related to convertible debt to current liabilities during the period, with full conversion and amortization completed in July 2023.See it on page 15

Summary

Games and companies in this document

Starbreeze StudiosCompany · Sweden · founded 2002 · 51 documents

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