Starbreeze

Starbreeze (STAR) investor relations material

Starbreeze Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.

Q2 2026 earnings summary20 Aug, 2026

Executive summary

Net sales for Q2 2026 were SEK 25.6 million, down 52.5% year-over-year, mainly due to the wind-down of third-party publishing and work-for-hire activities.
PAYDAY 2 sales grew to SEK 13.7 million (from SEK 8.0 million), while PAYDAY 3 sales declined to SEK 11.0 million (from SEK 17.7 million).
EBITDA remained positive at SEK 3.4 million, reflecting strong cost control despite lower revenues.
Player sentiment for PAYDAY 3 improved significantly, with recent Steam reviews turning Mostly Positive.

Financial highlights

Q2 2026 net sales: SEK 25.6 million (Q2 2025: SEK 53.8 million); H1 2026: SEK 52.1 million (H1 2025: SEK 121.5 million).
EBITDA Q2 2026: SEK 3.4 million (Q2 2025: SEK 5.9 million); H1 2026: SEK -0.2 million (H1 2025: SEK 21.6 million).
Profit/loss before tax Q2 2026: SEK -36.8 million (Q2 2025: SEK -25.4 million); H1 2026: SEK -93.0 million (H1 2025: SEK -54.9 million).
Cash flow from operating activities Q2 2026: SEK 6.6 million (Q2 2025: SEK 39.2 million); H1 2026: SEK 8.6 million (H1 2025: SEK 27.4 million).
Cash and cash equivalents at period end: SEK 52.1 million (Q2 2025: SEK 156.4 million).

Outlook and guidance

Management remains focused on cost control and incremental revenue growth across the PAYDAY franchise to return to sustained profitability.
Continued monthly content updates and platform expansion are expected to drive player engagement and revenue.

Monetization impact of PD3 sentiment recovery

PD2 console expansion plans post-Diesel 3.0

Financial goals for PAYDAY transmedia deals

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