Starbreeze Entertainment has released its interim report for Q2 2025, alongside its figures for the first six months of the year, revealing that the developer/publisher’s sales and profit are up, but it’s still making an overall loss.
The numbers
For the three months ended June 30, 2025 (Q2 2025)
- Net sales: SEK 53.8 million ($5.63 million), up 33.8% from SEK 40.2 million ($4.2 million)
- Net loss: SEK 25.4 million ($2.66 million), up 64% from SEK 70.6 million ($7.38 million)
For the period January to June 2025:
- Net sales: SEK 121.5 million ($12.7 million), up 25.5% from SEK 96.8 million ($10.1 million)
- Net loss: SEK 54.9 million ($5.74 million), up 40% from SEK 91.5 million ($9.57 million)
Starbreeze Entertainment shared its interim report on August 19, 2025.
In the report, CEO Adolf Kristjansson described the company’s revenue for Q2 2025 as “robust” and stated it was “driven by strategic promotional activities and increased player engagement with the Payday franchise.”
In Q2 2025, Payday 3 accounted for SEK 17.7 million ($1.86 million) of the company’s net sales, down SEK 4.3 million ($449,000) year-on-year (YoY) from SEK 22 million ($2.3 million).
Payday 2 sales were down this quarter too, dropping SEK 1.2 million ($125,500) YoY to SEK 8 million ($836,500).
Payday 3 sales saw an increase, however, for the period from January to June 2025, up from SEK 45.3 million ($4.73 million) YoY to SEK 50.8 million ($5.3 million), while Payday 2 sales increased by SEK 300,000 ($31,400) YoY.
“Our focused approach on enhancing player experience in Payday 3 continues to show incremental improvements in both player numbers and community sentiment – vital indicators for long-term franchise growth,” Kristjansson said in the report
On the other hand, third-party publishing sales dropped SEK 2.1 million ($219,500) YoY to SEK 6.7 million ($700,200) in Q2 2025, while the first half of the year has seen an overall drop of SEK 5.5 million ($575,000) YoY.
The company published two third-party titles during this quarter: 2023’s rogue-lite Roboquest on PS5 and PS4, and puzzle horror Out of Sight, a new release launched in May.
“Third-party publishing demands substantial resources but delivers limited impact compared to our core franchises,” Kristjansson noted in the report.
“With the global games market becoming increasingly crowded, successfully reaching and resonating with the intended audience requires a blend of expertise, timing, and often a degree of luck.
He continued: “Crucially, it highlights the tremendous value of having an established and beloved IP like Payday to consistently break through the noise. And it invariably takes a lot of time and resources.”
As a result, Starbreeze has decided to “refocus” its “ambitions” on the Payday franchise, the company’s own internal projects, and work-for-hire, “sharpening operational clarity” and “ensuring optimal use” of its internal resources.
The report also highlighted the “significant steps” the company has made this quarter in “simplifying our organizational structure, enhancing transparency, and empowering faster decision-making.”
“Core studio functions now report directly to the CEO, aimed to streamline operations and align our internal processes closely with strategic priorities,” Kristjansson explained.
“We have established three dedicated teams running Payday, our work-for-hire projects, and Baxter. These are now fully accountable for their respective financial performance, fostering a culture of ownership, agility, and creativity throughout the organization.”
Kristjansson was appointed CEO of Starbreeze Entertainment in April 2025, following Tobias Sjörgren’s decision to step down in March 2024.
Juergen Goeldner served as interim CEO until May 2024, when he stepped down to become chairman of the board. Goeldner was then replaced by CFO Mats Juhl as interim CEO until Kristjansson’s appointment earlier this year.
“This quarter’s steps represent deliberate choices to enhance efficiency, focus, and profitability,” Kristjansson said in the report.
“Our refined organizational structure, clear strategic priorities, and commitment to delivering engaging gaming experiences position us strongly for sustainable success. I remain confident in our direction and deeply appreciative of the team’s relentless passion, creativity, and determination.
“Together, we’re building a Starbreeze poised for long-term success, growth, and sustainability.”