Skip to main content

Starbreeze's Q1 losses shrink 95% to $505,000

New CEO Tobias Sjögren says "the road ahead is clear" as Payday 3 is fully funded

Starbreeze's recovery continues as the Payday developer reports a strong start to its financial year.

For the three months ended March 31, 2021, net sales reached SEK 27.9 million ($3.4 million),a 27% increase year-on-year.

Earnings before interest, tax, depreciation and amortization rose 33% to SEK 22.6 million ($2.7 million), while losses before tax shrank 95% from SEK 97.3 million ($11.7 million) to SEK 4.2 million ($505,367).

It's the lowest quarterly loss in several years, and the second time it has posted a quarterly loss of less than $1 million, having reported a loss of SEK 8.2 million ($985,817) in Q3 2020.

These results were driven by the ongoing success of Payday 2, which continues to receive new DLC updates.

Starbreeze was further bolstered by a few key events behind the scenes; namely, the signing of a €50 million publishing deal with Koch Media for Payday 3 and the appointment of Tobias Sjögren as the company's new CEO.

In his comments -- under the title "The road ahead is clear" -- Sjögren said Payday 3 is now fully funded, thanks to the publishing deal, and puts it on track for a planned 2023 launch.

"The co-publishing structure means that while we co-invest into the game, we also have a revenue share that will be great for Starbreeze over the game's lifetime," he wrote.

He later concluded: "Starbreeze has now put a strong foundation for further growth in place."

Starbreeze faced insolvency back in 2018, but after a period in reconstruction and the sale of several assets, the company managed to pay off most of its creditors by the end of 2020.

Read this next

James Batchelor avatar
James Batchelor: James is Editor-in-Chief at, and has been a B2B journalist since 2006. He is author of The Best Non-Violent Video Games
Related topics