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Analyst Comment

Starbreeze: Close to 150,000 unique players during PAYDAY 3’s first 18 hours of early access

By Anton DamsténAnalyst
Starbreeze

According to Starbreeze’s press release, PAYDAY 3 had close to 150,000 unique players (DAU) during the first 18 hours of early access, excluding PlayStation 5. PlayStation 5 is excluded due to a technical issue that prevented players from accessing the game. The problem was solved earlier today, and PS5 users who purchased the early access edition can now play the game. Our earlier comment on the situation can be read here.

PAYDAY 3 is sold in three different editions: Base edition (40€), Silver edition (70€), and Gold edition (90€). Early access was included in the Silver and Gold editions. Players who bought the base edition will have access to the game when it launches officially on Thursday, September 21st. We assume that most players will purchase the Base edition.

The company also reported that its Starbreeze Nebula platform now has over 1.6 million registered users. Currently, the Nebula platform is only really used in conjunction with PAYDAY 3. Thus, the number of registered users is one indicator of the level of interest in the game. Starbreeze CEO Tobias Sjögren commented in an interview with Dagens industri that the player count and sales are within their plans and projections and that they are happy with the player feedback.

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 Figures2023-09-12

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.0.42.0
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
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