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Starbreeze almost halved its loss in 2022 but didn't re-establish profit

Starbreeze has published its financial results for Q4 2022 as well as for the full year, with sales on a par with 2021, but loss shrinking further.

The numbers

Full year 2022

Net sales: SEK 127 million ($12.2 million), up 1.5% year-on-year
Loss: SEK -59.8 million ($5.74 million), down 42% year-on-year

Q4 2022

Net sales: SEK 33.6 million ($3.22 million), up 8.3% year-on-year
Loss: SEK -16.8 million ($1.61 million), down 15% year-on-year

The highlights

While Starbreeze still isn’t profitable, the company cut its losses almost in half compared to 2021.

The continued success of its Payday franchise would have contributed, with the series accounting for SEK 121.9 million ($11.7 million) in sales for the full year 2022, versus SEK 119.8 million ($11.5 million) in 2021. However, sales on Steam for the title decreased 14% year-on-year.

The company noted that, from January 2023, it will get a 80% share from Payday 2 sales on Steam, versus 75% until that point, so we could see revenue from the title grow in upcoming financial reports for that reason.

In a statement, Starbreeze CEO Tobias Sjögren noted that the company continues to be affected by the talent shortage crisis, but grew its workforce from 156 to 165 during Q4 2022.

“We see that a combination of game development projects from our proprietary and licensed IPs, our publishing activities and the potential that exists to take the Payday brand beyond gaming will ensure a long-term and differentiated revenue model and take Starbreeze to the next level,” Sjögren said.

Starbreeze announced its return to third-party publishing last year, with its debut title due to be Walking Tree Games’ The Tribe Must Survive.

It also opened a new UK studio headed by Cinder Cone co-founders Tancred Dyke-Wells and Lawrence Bishop, to focus on development of newly acquired IPs and third-party publishing.

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