The player activity in PAYDAY 3 and the overall community sentiment have improved during and after the second quarter. However, PD3 activity remains far from the company’s desired level.

Starbreeze’s Q2 revenues were in line with our expectations, but operating profit (EBIT) fell short, primarily due to higher-than-anticipated direct costs.

Starbreeze will release its Q2 results on Tuesday, August 20, 2024. The standout event for the second quarter was the launch Boys in Blue on June 27

The first quarter of 2024 saw a continued decline in player activity, a trend that has persisted since the launch of PAYDAY 3 (“PD3”). The strike team has focused their efforts, both during and after the quarter, on aligning PD3 with player expectations through the Operational Medic Bag (“OMB”), but these efforts have yet to yield tangible results. However, the most significant changes to the game are still on the horizon and, according to Starbreeze, visible results in terms of sales are expected in the third quarter and beyond. However, in the absence of a noticeable increase in player activity, we remain on the sidelines waiting for signs of a PD3 recovery.

Starbreeze reported stronger-than-expected revenues for Q1 this morning. Meanwhile, the adjusted operating profit (adj. EBIT) was significantly lower than expected due to higher direct costs as well as selling and marketing costs. According to Starbreeze, efforts made together with co-publisher PLAION to enhance PAYDAY 3 have only had a minor impact on planned investments. Moving forward, the cadence and scope of the patches will increase, with several larger milestone releases planned. The first is set to launch in June. Starbreeze is expecting more visible results in terms of sales from the third quarter and onwards.