Starbreeze have published their Q4 2018 and full fiscal year 2018 earnings.
Q4 2018
Revenue: SEK 82.5 million (~$8.9M; down 20.5% from SEK 103.8 million in Q4 2017)
Revenue from Overkill's The Walking Dead: SEK 34.1 million (~$3.7M)
Revenue from Payday: SEK 20.4 million (~$2.2M; flat compared to Q4 2017)
EBITDA: SEK -73.7 million (~$7.9M loss; down from a SEK 6.3 million profit in Q4 2017)
Depreciation, amortisation, and impairments totaled SEK 1,428.6 million (~$153.4M). The company has impaired assets in the amount of SEK 1,401.9 million (~$150.5M).
This number is basically the amount of invested money in projects that are completed or cancelled during the quarter that they expect a return from. In game development, it's common practice to depreciate one-third of total development costs during the release quarter, one-third during the next 9 months, and the last one-third during the 12 months after that.
The loss before tax amounted to SEK 1,264.7 million (~$135.8M; down from a SEK 67.9 million loss in Q4 2017).
Earnings per share were SEK -3.96 (down from SEK -0.22 in Q4 2017; the share price was SEK 1,18 at market close yesterday).
Full year 2018
Revenue: SEK 350.0 million (~$37.6M; down 3.2% from SEK 61.4 million in 2017)
Revenue from Overkill's The Walking Dead: SEK 34.1 million (~$3.7M)
Revenue from Payday: SEK 97.7 million (~$10.5M; down 18.8% from SEK 120.3 million in 2017)
EBITDA: SEK -10.3 million (~$1.1M loss; up from a SEK 53.6 million loss in 2017)
The loss before tax amounted to SEK 1,347.2 million (~$144.7M; down from a SEK 176.2 million loss in 2017)
Earnings per share were SEK -4.20 (down from SEK -0.55 in 2017)
Cash and cash equivalents on 31 December 2018 amounted to SEK 72.4 million (~$7.8M). This is basically what they have in the bank.
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There will be an extraordinary general meeting on Thursday 7 March 2019.
A distribution deal was made with Universal Games and Digital Platforms for the Starbreeze mobile title PAYDAY: Crime War.
Starbreeze is selling back the publishing rights to System Shock 3 to OtherSide Entertainment.
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TL;DR
Long story short, Starbreeze made $3.7 million in revenue from Overkill's The Walking Dead sales. In the October-December period, they have completed development of Overkill's The Walking Dead and cancelled projects. They have spent a lot of money on these projects, and on $150.5 million of all invested money on these projects, they had expected a return (which is $0 on cancelled projects and $3.7M on Overkill's The Walking Dead). The rest of the investment on these projects will be depreciated/dealt with in the coming quarters.
As of 31 December 2018, they had access to $7.8 million in cash and cash equivalents: that's basically the combination of the money they have on their bank accounts and the money they have been promised by banks for loans. When this number hits zero, they're basically bankrupt.
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Year-end report will all info can be found here.
Q4 2018
Revenue: SEK 82.5 million (~$8.9M; down 20.5% from SEK 103.8 million in Q4 2017)
Revenue from Overkill's The Walking Dead: SEK 34.1 million (~$3.7M)
Revenue from Payday: SEK 20.4 million (~$2.2M; flat compared to Q4 2017)
EBITDA: SEK -73.7 million (~$7.9M loss; down from a SEK 6.3 million profit in Q4 2017)
Depreciation, amortisation, and impairments totaled SEK 1,428.6 million (~$153.4M). The company has impaired assets in the amount of SEK 1,401.9 million (~$150.5M).
This number is basically the amount of invested money in projects that are completed or cancelled during the quarter that they expect a return from. In game development, it's common practice to depreciate one-third of total development costs during the release quarter, one-third during the next 9 months, and the last one-third during the 12 months after that.
The loss before tax amounted to SEK 1,264.7 million (~$135.8M; down from a SEK 67.9 million loss in Q4 2017).
Earnings per share were SEK -3.96 (down from SEK -0.22 in Q4 2017; the share price was SEK 1,18 at market close yesterday).
Full year 2018
Revenue: SEK 350.0 million (~$37.6M; down 3.2% from SEK 61.4 million in 2017)
Revenue from Overkill's The Walking Dead: SEK 34.1 million (~$3.7M)
Revenue from Payday: SEK 97.7 million (~$10.5M; down 18.8% from SEK 120.3 million in 2017)
EBITDA: SEK -10.3 million (~$1.1M loss; up from a SEK 53.6 million loss in 2017)
The loss before tax amounted to SEK 1,347.2 million (~$144.7M; down from a SEK 176.2 million loss in 2017)
Earnings per share were SEK -4.20 (down from SEK -0.55 in 2017)
Cash and cash equivalents on 31 December 2018 amounted to SEK 72.4 million (~$7.8M). This is basically what they have in the bank.
---
There will be an extraordinary general meeting on Thursday 7 March 2019.
A distribution deal was made with Universal Games and Digital Platforms for the Starbreeze mobile title PAYDAY: Crime War.
Starbreeze is selling back the publishing rights to System Shock 3 to OtherSide Entertainment.
---
TL;DR
Long story short, Starbreeze made $3.7 million in revenue from Overkill's The Walking Dead sales. In the October-December period, they have completed development of Overkill's The Walking Dead and cancelled projects. They have spent a lot of money on these projects, and on $150.5 million of all invested money on these projects, they had expected a return (which is $0 on cancelled projects and $3.7M on Overkill's The Walking Dead). The rest of the investment on these projects will be depreciated/dealt with in the coming quarters.
As of 31 December 2018, they had access to $7.8 million in cash and cash equivalents: that's basically the combination of the money they have on their bank accounts and the money they have been promised by banks for loans. When this number hits zero, they're basically bankrupt.
---
Year-end report will all info can be found here.
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