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Starbreeze AB (publ): Business Overview, Financials & Competitive Analysis

Starbreeze AB (publ) scores 4/10 on the AskCyborg Cyborg Score (Mixed). Turnaround play dependent on successful PAYDAY 3 recovery and Project Baxter launch in 2026, with strong balance sheet offsetting current margin pressures. Starbreeze maintains solid cash reserves (SEK 387 million) and positive operational cash flow, but faces significant profitability challenges, heavy reliance on the PAYDAY franchise, and stock underperformance.

What is Starbreeze AB (publ)'s industry? Starbreeze AB (publ) (starbreeze.com) operates in Video Games - PC & Console Development and Publishing. AskCyborg classifies Starbreeze AB (publ) under Video Games - PC & Console Development and Publishing in its company registry.

Starbreeze AB develops, publishes, and distributes PC and console games in Europe and North America. The company offers its games under the PAYDAY brand. The company is a Swedish developer and publisher known for icon...

4/ 10Mixed

Cyborg Score thesis

Turnaround play dependent on successful PAYDAY 3 recovery and Project Baxter launch in 2026, with strong balance sheet offsetting...

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Industry Video Games - PC & Console Development and Publishing
3 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: October 19, 2026
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Starbreeze AB (publ) OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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Starbreeze AB (publ) Overview

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Starbreeze AB develops, publishes, and distributes PC and console games in Europe and North America. The company offers its games under the PAYDAY brand. The company is a Swedish developer and publisher known for iconic franchises and live-service games.

Strategic Profile

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Full control of the PAYDAY franchise and expansion into new media are set to drive higher recurring, high-margin revenues and long-term brand value. The company is focused on enhancing PAYDAY 3 and advancing Project Baxter, set for a 2026 release, with a development team of 150 people split between the two projects.

Competitive Landscape

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Starbreeze competes in a crowded gaming market against major publishers and indie developers. Key competitors include larger publishers like Electronic Arts and Ubisoft in live-service gaming, while indie competitors challenge through digital distribution. Heavy reliance on a single franchise and execution risks threaten Starbreeze's revenue stability and long-term player retention; rising costs, regulatory scrutiny, and limited external funding may hinder profit growth.

Industry Context

Starbreeze AB (publ) operates in Video Games - PC & Console Development and Publishing.

Key facts

Founded: 1998 · Headquarters: Stockholm, Sweden · Employees: 186 · Revenue: SEK 56.6m (Q3 2025) · Market cap: SEK 175.44m (~$16M USD)

What the AI analysts debated

AI-generated and not independently verified: selected findings from the multi-agent debate on Starbreeze AB (publ).

  • PAYDAY franchise generates 60% of revenues but faces concentration risk; PAYDAY 3 initial underperformance being addressed through content updates like Operation Medic Bag
  • Healthy cash position of about SEK 387 million with positive cash flow from operating activities of SEK 78.4 million
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Recent developments

Material events tracked by the AskCyborg corpus.

  • Q3 2025Strong operational cash flow of SEK 78.4 million despite net loss; PAYDAY 3 showing positive review trends after Operation Medic Bag launch
  • Q3 2025Roboquest launched and contributed SEK 17.4 million to net sales; company maintaining 150-person dev team split between PAYDAY 3 and Project Baxter
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

DestinyLive-service first-person shooter→Rainbow Six SiegeTactical shooter live-service→WarframeFree-to-play action game→

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Industry context

Starbreeze AB (publ) operates in Video Games - PC & Console Development and Publishing. See how the rest of the sector scores on the Cyborg framework.

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How AskCyborg research is made

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AI-generated research summary based on public sources; it may contain errors or omissions. Not investment advice. Not reviewed or endorsed by the companies covered. Report an error: legal@askcyborg.com · Terms of Service

Frequently asked questions

What does Starbreeze AB (publ) do?+
Starbreeze AB develops, publishes, and distributes PC and console games in Europe and North America. The company offers its games under the PAYDAY brand. The company is a Swedish developer and publisher known for icon...
What is Starbreeze AB (publ)'s Cyborg Score?+
Starbreeze AB (publ) has a Cyborg Score of 4/10 (Mixed). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Starbreeze AB (publ)'s main competitors?+
Named competitors include Destiny, Rainbow Six Siege, Warframe. The full competitive landscape is in the AskCyborg report.
How can I get the full Starbreeze AB (publ) research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Starbreeze AB (publ) research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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