Starbreeze revenue rises 19% to $24.5m in 2025

Starbreeze Entertainment has released its 2025 financial results, with revenue rising from SEK 185.9 million ($20.5 million) to SEK 221 million ($24.5 million).

The Payday developer also shared its fourth quarter results, which showed a 10.7% decline in sales.

Here’s what you need to know:

The numbers

For the three months ended December 31, 2025

• Net sales: SEK 41.1 million ($4.5 million), down 10.7%
• Net loss: SEK 61.9 million ($6.8 million) compared to SEK 167.9 million ($18.6 million) during the same period last year

For the full year ended December 31, 2025

• Net sales: SEK 221 million ($24.5 million), up 18.8%
• Net loss: SEK 402.7 million ($44.6 million) compared to SEK 317.7 million ($35.2 million) in 2024

The highlights

Starbreeze CEO Adolf Krist Jansson described its fourth quarter as a “period of steady execution.”

“Our priority has been to stabilise the business, deliver on our commitments, and lay a solid foundation for sustainable growth,” said Jansson.

In Q4, Payday 2 accounted for SEK 14.8 million ($1.6 million) of revenue, up 43.6% YoY. Payday 3 generated SEK 8 million ($887,385), down 45.5% YoY.

Starbreeze CEO Adolf Krist Jansson noted that its Payday 3 team “established a stable monthly cadence for updates” as it continues to “strengthen trust with players and the community.” Payday 2’s performance “exceeded expectations” over the holidays, which was attributed to Starbreeze’s partnership with an external development team.

Elsewhere, third-party publishing generated SEK 0.6 million ($66,497), compared with SEK 15.4 million ($1.7 million) in the same period last year.

Starbreeze announced it is taking “steps to adapt its cost base”, primarily in its work-for-hire segment.

“While work-for-hire is a viable part of our business when the right opportunities arise, these adjustments ensure that our organisation is aligned with demand and supports our long-term ambition to build a simpler, more predictable, and financially resilient company,” said Jansson.

This follows reports that Starbreeze made an unspecified number of layoffs in late January, with employees sharing on social media that they were affected.

Last October, the company conducted redundancies that affected 33 employees. This followed the cancellation of its Dungeons & Dragons games-as-a-service title, codenamed Project Baxter.

For the full year, Payday 2 generated SEK 221 million ($24.4 million) in revenue, while Payday 3 accounted for SEK 50.1 million ($5.5 million). Both totals were up about 20% from previous years.

For third-party publishing, it reached SEK 15.4 million ($1.7 million), down from SEK 47.7 million ($5.2 million) in 2024.

“The fourth quarter concluded a year defined by sharper focus and renewed discipline,” said Jansson. “The decisions taken throughout 2025 have simplified the company, strengthened execution and improved predictability.”

He concluded: “Looking ahead, 2026 is about moving from promises to progress. With a focused organisation, a strengthening Payday franchise, and a clear strategic direction, Starbreeze enters the year with great confidence, improved resilience, and a strong foundation to create long-term value for players, partners and shareholders.”