)
Visual
earnings real time
Paradox Interactive
Paradox Interactive (PDX) investor relations material
Paradox Interactive Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary29 Jan, 2026
Executive summary
Q4 revenue rose 23% year-over-year to SEK 875 million, driven by major releases like Europa Universalis V and significant DLCs, but impacted by a SEK 701 million write-down on Vampire: The Masquerade - Bloodlines 2.
Cash flow improved and the balance sheet was strengthened, with new franchises Victoria 3 and Age of Wonders 4 added to the core portfolio.
The company acquired Haemimont Games and brought Cities: Skylines in-house, enhancing management game capabilities.
Full-year revenue was SEK 2,191.9 million, nearly flat year-over-year, while operating profit dropped 80% to SEK 146.0 million.
Strategic refocus on core strategy and management games, with resources redirected to internal studios.
Financial highlights
Q4 revenue reached SEK 875 million, up 23% from SEK 709 million in Q4 2024, marking the second-best quarter ever.
Operating profit was SEK -245 million, down from SEK 395 million, due to SEK 701 million in amortizations and write-downs for Bloodlines 2.
Profit after tax was SEK -201 million for Q4, compared to SEK 311 million last year; full-year profit after tax was SEK 125.5 million, down from SEK 584.6 million.
Cash flow from operating activities was strong at SEK 513 million for Q4 and SEK 1,236.5 million for the year.
Dividend of SEK 5 per share proposed for the annual shareholders meeting.
Outlook and guidance
Focus remains on developing new content for live games and sequels, with a disciplined approach to new investments and acquisitions.
Future pipeline focused exclusively on deep strategy and management games, mostly developed in-house.
Victoria 3 and Age of Wonders 4 are expected to continue growing, with Europa Universalis V anticipated to be highly profitable for years.
Optimism for 2026 based on a compelling pipeline and strong control over key franchises.
Future P&L impact of Bloodlines 2 write-down
Impact of core strategy on future game pipeline
Capitalized dev cost trend given new strategy?
How will Paradox ensure 10+ year growth for new IPs?
What is the capital allocation strategy given new normal dev spend?
How does Paradox's 'razor focus' impact project risk?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- 9412
Profits and equity improved, with upward revisions to full-year forecasts and new subsidiaries added. - NVDA
AI is transforming enterprises by enabling intent-driven innovation and technology-first strategies. - DNLM
H1 sales up 3.6% to £926m; digital mix 41%; PBT to hit lower end of consensus. - CRW
Double-digit growth, strong cash flow, and new leadership drive confidence for FY25. - 7011
Strong revenue and profit growth in FY2025, with raised guidance and key divestiture impact. - 8053
Profit attributable to owners dipped 1.9% despite higher revenues and strong FX gains. - 323410
Strong growth in customers, profits, and deposits, with stable asset quality and global milestones. - 3407
Net income rose 22.7% year-over-year, with improved financials and a revised upward forecast. - RYM
Refreshed strategy targets NZD 150m cash flow uplift, NZD 500m cash release, and resumed dividends by FY 2028. - 9101
Profits fell across most segments, but energy shipping and a major acquisition stood out.
Next Paradox Interactive earnings date
Q1 202630 Apr, 2026
Paradox Interactive
Next Paradox Interactive earnings date
Q1 202630 Apr, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
Related articles
)
)
Frequently asked questions
An Umbrella of Video Game Studios
Paradox Interactive is a Swedish video game publisher that develops and distributes games. The company has several different studios under its umbrella, including its flagship Paradox Development Studio. The company publishes games in a variety of genres but is best known for its expertise in grand strategy games. Some of its most recognized IPs are Crusader Kings, Hearts of Iron, and Europa Universalis. The company is headquartered in Stockholm, Sweden, and its shares are traded on OMX Stockholm.
Target Games
Paradox Interactive's origins can be traced back to the 1980s with the Swedish board games company Target Games. Paradox was initially set up to produce various video game adaptations of the board games produced by the parent company, and when Target Games went under, the video game division lived on. Paradox released the first games in the IPs that would later go on to establish them as one of the most respected studios in terms of grand strategy games.
Paradox Development Studio
The company operates Paradox Development Studio as its internal development wing. This studio specializes in creating grand strategy and management games, a genre characterized by extensive strategic planning and resource management. The games produced by the studio have garnered a dedicated following for their depth, historical accuracy, and complex gameplay mechanics. The studio's approach often involves combining detailed historical settings with intricate game systems, allowing players to experience and influence different historical scenarios.
Work as a Publisher
As a publisher, Paradox Interactive plays a critical role in the video game industry by facilitating the development and distribution of games created by various studios. Their work extends beyond their own Paradox Development Studio to include supporting independent game developers. This support encompasses financial backing, marketing, distribution, and guidance in game development processes. While it in many ways operates similarly to names like Take-Two Interactive, Activision Blizzard, and Electronic Arts (EA), Paradox Interactive is a much smaller company in comparison to the giants of the industry.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage