Paradox Interactive AB (STU:ETA)

Q3 2025 Paradox Interactive AB (publ) Earnings Call Transcript

Oct 23, 2025 / 10:00 AM GMT

Release Date Price: €16.19 (+5.20%)

Transcript

Key Points

Positve

Paradox Interactive AB (PRXXF) is preparing for a highly active Q4 with two new base game releases, a remaster, seven DLCs, four ports, and seven content creator packs.
H1 is 4 and Victoria 3 have shown very positive player numbers, retention, and sales, indicating strong ongoing engagement.
The company is building capabilities in the management games segment, with new games expected next year.
Age of Wonders and Victoria 3 have established themselves as long-term revenue contributors with strong profit margins.
The company has a strong cash flow and a robust pipeline of games, positioning it well for future growth.

Negative

Q3 revenues decreased by 9% compared to the same quarter last year, primarily due to fewer releases and unfavorable currency movements.
Operating profits fell from 143 million last year to 112 million this year, reflecting the revenue decline.
The equity asset ratio decreased slightly due to the extension of the office lease contract, impacting the balance sheet.
The cost of goods sold remains high, with significant amortization of capitalized game development costs.
Non-capitalized development and tech costs increased, partly due to a reorganization that shifted some functions to a non-capitalized structure.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PDXI.ST - Paradox Interactive AB (publ)
Q3 2025 Paradox Interactive AB (publ) Earnings Call
Oct 23, 2025 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Hello everyone and welcome to the Paradox Interactive quarter 3 of 2025 live stream with me. My name is Fred, and.

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Unidentified_2 [2]
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And I'm Alex. I'm the CFO. Welcome everyone.

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Unidentified_1 [3]
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Great. So as you can see, I'm not in the office today, so I'm on the road, but we will get this going anyways, and I hope you'll enjoy what you see. So let's

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