GGG left with NZ$22.6 mil cash (down from NZ$60.8m)

https://ibb.co/P8mcFqn

Keep in mind this report is with the POE2 early access launch + sales. From the videos lately Chris is uploading you can tell his happiness.

GGG is left with 22.6 mil NZD, which is 13 mil USD, well this isn't good news for this community and its employees, especially not for Tencent Sixjoy that paid / invested over 100 million USD around 7-8 years to Chris.

Anyways, who's surprised and more importantly, what do you see it'll follow / come next?

Hey Kopo.

I understand that not everyone has the skill to comprehend text that they are reading or is financially savvy, but you must be joking, right?

For FY23 they reported $83.4 million in revenue
For FY24 they reported $105.2 million in revenue
For FY25 they reported $105.2 million in revenue

The only thing that increased (significantly, as your own screenshot suggests) are the dividends to Tencent, which are deducted from revenue. You also mistake revenue and cash position. That's the total amount of available cash and liquid assets that they can use to meet immediate financial obligations.

I also want to push back on your mischaracterization of Chris Wilson and his attitude towards his former company. I've also watched his videos and I don't see any indication for your claim.

Do better, man.

"

ArtCrusade#4438 wrote:

...but you must be joking, right?

"

Kopogero#0635 wrote:

https://ibb.co/P8mcFqn

Keep in mind this report is with the POE2 early access launch + sales.

Your screenshot doesn't contain any reports; only AI-generated slop.

The same Gemini model thinks I am a developer working for GGG. It has heard of you as well.

Master fisherman.

@ArtCrusade#4438

Your argument was expected and predicted, but what you did miss is how that revenue you're arguing was maintained, and it was by GGG SPENDING / INVESTING that cash to deliver PoE2 and everything else for PoE1.

Sixjoy clearly is cashing out as much and ASAP on their investment, leaving GGG with 13 mil USD at disposal for both games, or in other words back to becoming that same indie company it once was.

IMO the size of the companies cash holdings doesn't matter too much. Spending cash holdings to re-invest in the company is something most companies do. Some companies run with almost no cushion at all. But if it keeps getting lower it might be an alarming trend.

If we're talking JUST revenue numbers and looking at this through a business only lens I think GGGs "problem" is they only want to court the try hard, no-lifer market which I feel they've basically completely tapped out at this point. There's very little juice left to squeeze. Further, that market is very fickle. One wrong patch and you'll piss off players to the point they stop buying packs out of a sort of personal grudge.

If they want to remain a niche, lower market cap game then that's absolutely their choice of course and I enjoy certain aspects of that and respect the decision.

However, I think we're running into where the rubber meets the road territory of reality here. GGG needs dedicated teams for PoE1 and 2, but they don't have the cashflow to sustain that - yet they're unwilling to flex on their vision to bring in more players (eg, adding a high drop rate, easier to gear SSF perma-locked mode or something).

Shifting a single team to work on both games feels like both games are suffering.

People crap on D4, and I agree with the majority of the criticisms of the game and would personally loathe to see PoE's design reflect Diablo 4 - but then we look at the numbers and when D4 launched it made over 1 billion dollars in pre-order and launch day sales alone. At the time, this was larger than the entire, cumulative lifetime revenue that GGG ever accrued.

Again this is just looking at raw finances and disregarding the actual product. I'm here cause I prefer PoE and don't want to see it change but I do feel they need to expand their team for the sake of both games and they'll need to find a way to make the money to do that.

It's not an enviable position to be in.

Just to keep things in perspective, there is no 2025 report yet, since the financial year has only just ended. So we don’t actually know what the post-EA POE2 numbers look like in the accounts.

Also, it’s pretty normal after a full acquisition that cash and profits flow to the owner. GGG being left with 22.6m NZD doesn’t mean the money vanished or that the studio is “struggling”, it usually just means profits were paid out to the parent company (Tencent/Sixjoy).

Here is the link to the financial reports:

https://app.companiesoffice.govt.nz/companies/app/ui/pages/companies/1887410/documents

There's also more, like the market expansion that contributed to maintain that revenue. New markets / countries / audiences that start playing + paying for the first time including on console, except GGG can no longer do that, and its future revenue will solely depend on retention or in other words ongoing live service maintenance (investment), which will require that liquid cash, and now more than ever with two games with more employees.

After year of early access we have also a better idea of what that retention looks like, especially now with 0.4 during a winter holiday season when most aren't in school or at work.

https://ibb.co/ZzcK4yyv


290k active steam players on launch and at the moment 93k with a 116k peak, and this isn't even a month later.