Copyright © Inderes 2011 - present. All rights reserved.
  • Latest
  • Markets
    • Stock Comparison
    • Financial Calendar
    • Dividends Calendar
    • Research
    • Articles
  • inderesTV
  • Forum
  • About Us
    • Our Coverage
    • Team
Analyst Comment

Starbreeze: PAYDAY 3 is now live in early access

By Anton DamsténAnalyst
Starbreeze

Yesterday, September 18th, PAYDAY 3 went into early access for the players who bought the silver and gold versions. I had the opportunity to play the game for about 2 hours yesterday on PC and really enjoyed the game. I had no technical issues, and my impression of the game was good.

On the PlayStation 5 version, there was an issue where players somehow ended up playing an older version of the game that was not working correctly. This issue angered the PlayStation community, who were looking forward to playing the game. According to Starbreeze, Sony is working on getting the correct game version on PlayStation 5.

As of writing this, Starbreeze’s stock is down 15%. We can only assume due to the PS5 issues. Having the early access launch problems on PS5 is unfortunate and surely disappointed some eager fans waiting to play the game as soon as possible. However, looking at the big picture, we do not think it is a major issue, and hopefully, it will be solved soon.

The game’s official release is on Thursday, and that is when the GaaS story of PAYDAY 3 truly starts. PAYDAY 3 is currently the third bestselling game on Steam and had a peak concurrent player count of 35,200 yesterday on Steam. At this stage, however, it is too early to draw any conclusions or make changes to estimates. We will naturally continue to closely follow the launch and the players’ reactions to the game.

Starbreeze operates in the gaming industry and focuses on the development, publishing and distribution of computer games and interactive entertainment. The company's portfolio includes both its own games and collaborations with other game developers. The business is aimed at gamers and distributors globally, with the largest operations in Europe. Starbreeze was founded in 1998 and is headquartered in Stockholm, Sweden.

Read more on company page

Key Estimate Figures12.09.2023

202223e24e
Revenue127.6679.0373.4
growth-%1.5 %432.1 %-45.0 %
EBIT (adj.)6.7433.979.5
EBIT-% (adj.)5.3 %63.9 %21.3 %
EPS (adj.)-0.080.300.05
Dividend0.000.000.00
Dividend %
P/E (adj.)neg.0.42.1
EV/EBITDA18.1neg.neg.

Forum discussions

Christoffer and Atte have prepared a new company report on Starbreeze after the Q3 results. \nStarbreeze reported Q3 revenue in line with expectations...
11/12/2025, 8:50 AM
by Sijoittaja-alokas
3
Hi! Our analyst Christoffer interviewed Starbreeze’s CEO today in connection with their Q3 report. Check it out here, the interview is in English...
11/11/2025, 3:05 PM
by Jesper Hagman
5
There isn’t much to share in the coffers; even those small amounts go purely into running the bureaucracy and finding a party that would then...
11/11/2025, 12:40 PM
by Arvuuttaja
0
Optimization would require expertise, and most of the Payday 2 developers left the company even before PD3’s release. Payday 3 and Baxter paint...
11/11/2025, 12:22 PM
by Trivial
1
And there are no changes in player data for Payday 3, so the promising start at the beginning of the year sharply turned back to its lowest ...
11/11/2025, 11:51 AM
by Arvuuttaja
1
Here are Jenneli’s quick comments on Starbreeze’s Q3 results. Starbreeze reported Q3 revenue in line with expectations, but adjusted profitability...
11/11/2025, 10:50 AM
by Sijoittaja-alokas
1
@christoffer.jennel has given his preliminary comments as Starbreeze reports its Q3 results next week on Tuesday. *The quarter is dominated ...
11/7/2025, 8:25 AM
by Sijoittaja-alokas
2
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • X (Twitter)
Get in touch
  • info@hcandersencapital.dk
  • Bredgade 23B, 2. sal
    1260 København K
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer
Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.