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Analyst Comment

Starbreeze: PAYDAY 3 servers overwhelmed by player count at release

By Anton DamsténAnalyst
22.09.2023, 08.47
Starbreeze

PAYDAY 3 was officially released yesterday to all intended platforms. During the first hours of the launch, PAYDAY 3 had a peak of concurrent players (CCU) across all platforms of more than 220,000 and 924,204 unique players (DAU). The number of registered users on Starbreeze Nebula increased to approximately 2.5 million.

As the player count increased, the game’s servers were unable to meet demand, and the game was inaccessible from around 21:45 CEST. Starbreeze has rolled out several fixes and patches to the server infrastructure, but as of Friday morning, the problem persists. PAYDAY 3 is an always online game, meaning players cannot access the game if the servers are not working.

At first glance, the reported numbers look promising. However, the technical issues have disappointed players waiting eagerly to play the game, and is reflected in the negative reviews coming from the community. As Starbreeze gets the servers up and running, we can better gauge the community’s response to the game and the issues at hand.

Starbreeze

0.79SEK21.09.2023, 18.00
1.15SEKTarget price
Accumulate
Recommendation updated:12.09.2023

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
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.0.63.6
EV/EBITDA18.1neg.neg.
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