20.5 million less profit in 2023 (2022 49 mil, 2023 28 mil)

GGG financial statement was released a few days ago.

[Removed by Support]



From 48.9 to 28.4 mil (assuming NZD) it's quite a significant drop in profit from year to year. Some other things are worth mentioning, Siege of the Atlas was the last "significant" expansion in terms of scope of content that released two years ago and the "expansions (leagues) through 2023 were released every four months.

Still, does this surprise you, the significant loss of profit from 2022? The expenses are quite significant in 2023 (8 more mil), and then there was Exilecon, which there's no info about it. How much of the 39 mil total expenses you think GGG spent on "advertising"?

Finally, one thing worth mentioning is that PoE2 was being developed way before 2023.

67% of the decline was due to currency fluctuations across their operating markets.

Their profits dropped 26.7M but their foreign exchange yield dropped 18.1 by itself.

What kind of point are you trying to draw from all this?

They are spending a lot of money on POE2, thats pretty nice :)

10/01/21-09/30/22
2021-10-22 Scourge
2022-02-04 Archnemesis
2022-05-13 Sentinel
2022-08-19 Kalandra

10/01/22-09/30/23
2022-12-09 Sanctum
2023-04-07 Crucible
2023-08-18 Ancestor

Same revenue from 3 leagues versus 4? No meaningful hits to revenue (zero effect of D4.) No upcoming competition that can kill the game. Looks good from my layman perspective.

GGG is heavily investing in PoE 2, so the negative side of the balance sheet surging is to be expected.

It's likely the same reason the cash and equivalent holdings dropped by 30 mil.

hoho 2 Kopo posts within a week?

"I dont know how to read financial statements in context" - the thread

I bet its all thanks to Kopo saying we shouldnt play PoE.

This is what happens when they have to pay you millions for winning a race.

Oh, wait...

Only losing 20m profit while putting almost all their resources into developing a (now) separate game seems pretty good ngl. I would be more worried if that investment doesn't pay off a year after poe2 is released. Hopefully poe2 can carry its own weight after release rather than poe1 paying for the fun Jonathan and co are putting into poe2. Ideally PoE2 can carry both forward for many years to come. It's optimistic but they are willing to take the risk so we should pray it works out.