{"id":1480152,"date":"2026-01-30T10:05:25","date_gmt":"2026-01-30T10:05:25","guid":{"rendered":"http:\/\/x74ruQhAJnZWByosWbM8UB"},"modified":"2026-01-30T10:05:25","modified_gmt":"2026-01-30T10:05:25","slug":"vampire-the-masquerade-bloodlines-2-left-a-gaping-28-million-hole-in-paradoxs-year-end-financial-report","status":"publish","type":"post","link":"https:\/\/arcader.org\/news\/vampire-the-masquerade-bloodlines-2-left-a-gaping-28-million-hole-in-paradoxs-year-end-financial-report\/","title":{"rendered":"Vampire: The Masquerade \u2013 Bloodlines 2 left a gaping, $28 million hole in Paradox&#8217;s year-end financial report"},"content":{"rendered":"<article>\n<p>Paradox aired its <a data-analytics-id=\"inline-link\" href=\"https:\/\/www.youtube.com\/watch?v=LHWAVZVRxWA&#038;list=PL4hR-M4rl7ueJ0iUcCOM6QxHUktR8_sTw&#038;index=1\" target=\"_blank\">year-end report<\/a>\u2014where it chats all the money it has and hasn&#8217;t made for the benefit of investors\u2014earlier today, but don&#8217;t worry, I watched it for you. Long story short? Paradox raked in a whole lot of cash this quarter: 23% more than it earned in the same quarter last year, making it Paradox&#8217;s &#8220;second-best quarter ever&#8221;. Hooray! Also, it managed to make 162% less operating profit for an overall loss of 245.4 million Swedish kronor (around $28 million). Uh oh!<\/p>\n<p>And the reason is, well, yeah, it&#8217;s Vampire: The Masquerade \u2013 Bloodlines 2.<\/p>\n<p>&#8220;The profit line, or EBIT [earnings before interest and taxes] is affected by a big writedown of the game Vampire: The Masquerade \u2013 Bloodlines 2,&#8221; said Paradox CEO Fredrik Wester. If you&#8217;ll recall, Paradox announced last November that its troubled sequel to cult classic Bloodlines 1 <a data-analytics-id=\"inline-link\" href=\"https:\/\/www.pcgamer.com\/games\/rpg\/vampire-the-masquerade-bloodlines-2-didnt-sell-as-well-as-paradox-expected-and-the-publisher-is-taking-the-blame-the-responsibility-lies-fully-with-us\/\">hadn&#8217;t sold as well as it had hoped<\/a>, leading to a write-down of 355 million kronor.<\/p>\n<p>Profit was also impacted by &#8220;scheduled amortisation of the entire capitalised development cost [for Bloodlines 2] over the period from October to December 2025, amounting to MSEK 345.7.&#8221; Unlike the wince-inducing write-down, though, that&#8217;s just a fairly bog-standard bit of accounting for the game&#8217;s development costs (though those would, perhaps, have been lower had the game not been such <a data-analytics-id=\"inline-link\" href=\"https:\/\/www.pcgamer.com\/games\/rpg\/vampire-the-masquerade-bloodlines-2-has-been-delayed-again-this-time-to-add-more-endings-to-the-game-along-with-some-extra-polish\/\">a nightmare to create<\/a>).<\/p>\n<p>Absent the write-down, Paradox&#8217;s profit would&#8217;ve shaken out to around 110 million kronor\u2014still a hefty chunk less than its operating profit in the same quarter last year (395.3 million kronor), but, you know, still a profit.<\/p>\n<figure class=\"van-image-figure inline-layout\" data-bordeaux-image-check >\n<div class='image-full-width-wrapper'>\n<div class='image-widthsetter' style=\"max-width:1920px;\">\n<p class=\"vanilla-image-block\" style=\"padding-top:56.25%;\"><img loading=\"lazy\" decoding=\"async\" id=\"nNtoeaM2McUVzxCM43P9pX\" name=\"ss_9afcfa6050d2d9fb431a1a9bb279e\" alt=\"Benny Muldoon in Bloodlines 2\" src=\"https:\/\/arcader.org\/wp-content\/uploads\/2026\/01\/vampire-the-masquerade-bloodlines-2-left-a-gaping-28-million-hole-in-paradoxs-year-end-financial-report.jpg\" mos=\"\" align=\"middle\" fullscreen=\"1\" width=\"1920\" height=\"1080\" attribution=\"\" endorsement=\"\" class=\"inline expandable\"><a href='https:\/\/arcader.org\/wp-content\/uploads\/2026\/01\/vampire-the-masquerade-bloodlines-2-left-a-gaping-28-million-hole-in-paradoxs-year-end-financial-report.jpg' target='_blank' class='expand-button icon-expand-image icon' ><\/a><\/p>\n<\/div>\n<\/div><figcaption itemprop=\"caption description\" class=\" inline-layout\"><span class=\"credit\" itemprop=\"copyrightHolder\">(Image credit: Paradox Interactive)<\/span><\/figcaption><\/figure>\n<p>Now, to be fair, vampires weren&#8217;t the only thing taking a bite out of Paradox&#8217;s bank account last quarter. Wester and Paradox CFO Alexander Bricca pointed out that the volatility of foreign exchange rates has also been doing a number on the company. &#8220;The dollar was down, I think 12% if you look at the quarter average, [the] Euro down 5, 6%\u2014so, all in all it impacts our top line quite significantly,&#8221; Bricca told investors.<\/p>\n<p>It&#8217;s hard to see past that Bloodlines 2 iceberg, though. Wester tried to put a positive spin on things, mind you: &#8220;On revenue, it&#8217;s our second-best quarter ever!&#8221;<\/p>\n<p>Poor Bloodlines 2, is all I have to say. Sure, it should never have been saddled with that name and the attendant expectations, but I rather liked The Chinese Room&#8217;s take on Vampire: The Masquerade. It wasn&#8217;t perfect, but I enjoyed my time with it. At least Paradox doesn&#8217;t blame the studio for the gaping hole in its finances: &#8220;The responsibility lies fully with us,&#8221; it said at the time of the write-down. Still, I&#8217;m not expecting Bloodlines 3 any time soon.<\/p>\n<div class=\"product\"><a data-dimension112=\"f5a1ea8b-5636-49a9-a710-9ce55a0eb06c\" data-action=\"Deal Block\" data-label=\"2026 games\" data-dimension48=\"2026 games\" target=\"_blank\" rel=\"nofollow\"><\/p>\n<figure class=\"van-image-figure \" >\n<div class='image-full-width-wrapper'>\n<div class='image-widthsetter' style=\"max-width:661px;\">\n<p class=\"vanilla-image-block\" style=\"padding-top:98.94%;\"><img loading=\"lazy\" decoding=\"async\" id=\"6offQUY4CXebir2TC27dMd\" name=\"kingdom come 2 square\" caption=\"\" alt=\"\" src=\"https:\/\/arcader.org\/wp-content\/uploads\/2026\/01\/vampire-the-masquerade-bloodlines-2-left-a-gaping-28-million-hole-in-paradoxs-year-end-financial-report-1.jpg\" mos=\"\" align=\"middle\" fullscreen=\"\" width=\"661\" height=\"654\" attribution=\"\" endorsement=\"\" credit=\"\" class=\"\"><\/p>\n<\/div>\n<\/div>\n<\/figure>\n<p><\/a><\/p>\n<p><a href=\"https:\/\/www.pcgamer.com\/games\/new-pc-games-2026\/\" target=\"_blank\" data-dimension112=\"f5a1ea8b-5636-49a9-a710-9ce55a0eb06c\" data-action=\"Deal Block\" data-label=\"2026 games\" data-dimension48=\"2026 games\" data-dimension25=\"\"><strong>2026 games<\/strong><\/a>: All the upcoming games<br \/><a href=\"https:\/\/www.pcgamer.com\/the-best-pc-games\/\" target=\"_blank\"><strong>Best PC games<\/strong><\/a>: Our all-time favorites<br \/><a href=\"https:\/\/www.pcgamer.com\/the-50-best-free-pc-games\/\" target=\"_blank\"><strong>Free PC games<\/strong><\/a>: Freebie fest<br \/><a href=\"https:\/\/www.pcgamer.com\/best-fps-games\/\" target=\"_blank\"><strong>Best FPS games<\/strong><\/a>: Finest gunplay<br \/><a href=\"https:\/\/www.pcgamer.com\/best-rpgs-of-all-time\/\" target=\"_blank\"><strong>Best RPGs<\/strong><\/a>: Grand adventures<br \/><a href=\"https:\/\/www.pcgamer.com\/the-best-co-op-games\/\" target=\"_blank\"><strong>Best co-op games<\/strong><\/a>: Better together<\/p>\n<\/div>\n<\/article>\n<p><a href=\"https:\/\/www.pcgamer.com\/games\/rpg\/vampire-the-masquerade-bloodlines-2-left-a-gaping-usd28-million-hole-in-paradoxs-year-end-financial-report\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paradox aired its year-end report\u2014where it chats all the money it has and hasn&#8217;t made for the benefit of investors\u2014earlier today, but don&#8217;t worry, I watched it for you. Long story short? Paradox raked in a whole lot of cash this quarter: 23% more than it earned in the same quarter last year, making it Paradox&#8217;s &#8220;second-best quarter ever&#8221;. Hooray! Also, it managed to make 162% less operating profit for an overall loss of 245.4 million Swedish kronor (around $28 million). Uh oh! And the reason is, well, yeah, it&#8217;s Vampire: The Masquerade \u2013 Bloodlines 2. &#8220;The profit line, or EBIT [earnings before interest and taxes] is affected by a big writedown of the game Vampire: The Masquerade \u2013 Bloodlines 2,&#8221; said Paradox CEO Fredrik&hellip;<\/p>\n<p class=\"excerpt-more\"><a class=\"blog-excerpt button\" href=\"https:\/\/arcader.org\/news\/vampire-the-masquerade-bloodlines-2-left-a-gaping-28-million-hole-in-paradoxs-year-end-financial-report\/\">Read More&#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":1480153,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[336],"tags":[748,34],"class_list":["post-1480152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pc-gamer","tag-games","tag-rpg"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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