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MindArk Interim Report Q1 2023

Q1 2023
Total operating income 34 444 (2 968,37 Euro)
Total operating expenses -30 233

Profit before tax 4 537...
"...Regular Swedish income tax at about 30%."

4.537-30%=3,175.9SEK

3,175.9SEK to Euro 273,70, to Dollar 293,71.

edit:
Net profit 3 602SEK...to euro 310,42 Euro
 
Last edited:
WolfStar said:
Q1 2023
Total operating income 34 444 (2 968,37 Euro)
Total operating expenses -30 233

Profit before tax 4 537...
"...Regular Swedish income tax at about 30%."

4.537-30%=3,175.9SEK

3,175.9SEK to Euro 273,70, to Dollar 293,71.

edit:
Net profit 3 602SEK...to euro 310,42 Euro
Click to expand...
(In KSEK) so that would be 310,420 euro.
 
WolfStar said:
edit:
Net profit 3 602SEK...to euro 310,42 Euro
Click to expand...
For the sake of avoinding panic Bullshitting... the account is THOUSANDS OF SEKS
so those numbers are to be multiplied by 1.000

leave accountancy to accuntants :)
 
194c-6ef1-43e0-8ea4-f0e84ddf0cae.jpg


:cool:;)
 
with a 20% operating income growth on same previous period, i am pretty sure that the pillars to prevent the sky falling are there :)
Entropia Intellectual Property is valued in the 8m Eur in balance account, rising.. probably some UE5 has been repriced in the infrastructure.
Reservers for PED sold guarantee are equal to 6 months like per TOS
average decay for player is 13 ped per hour... (1.3 USD) @ 2% average as per the 2017 report it is 65 ped per hour on average ..... i would like that all WOKE players think about this number ... a nanoblade user decay 3000+ and a bp70/mm decay 2k.... loot 2.0 comadn that top 100 shooters PAY FOR THE SERVERS.
balance is stronger than ever... i just dont understand the high cost of staff.. maybe sweden have high salaries... or there is a temporary increase to develop unreal... i cant undestand how a high tech company may need so much people...
 
Msturlese said:
Msturlese said:
i cant undestand how a high tech company may need so much people...
Click to expand...
Click to expand...
Look no further than the recent Twitter takeover. Went from 11,000 people (including contractors) down to 2000 and the place is running better than ever now. It's normal corporate bloat, and it's an absolute killer. Add to that how impossible it is to fire employees in Sweden and there's the problem. It's why we're seeing bad loot. It's why new content and bugfixes seem to take forever. They're "top heavy" and management is too weak to fix the problem.
 
Consider how a corporate tax structure which heavily punishes profits encourages investment in things or structures which otherwise wouldn't be seen as attractive. The connection to day-to-day loot returns, however, is not likely that simple. It is /that/ simple when you look at the calendrical distribution of deposits.
 
RickEngland said:
I'm of the opinion that any figures relate to real deposits less costs and liabilities = profit.

The game can invent value from thin air, say new weapons or deeds. It's always quite interesting what revenue or turnover actually means. Hence if I was an investor I'd more more interested in the movement in cash.

Ironically the game could give you 100% hunting returns, as long as they could invent reasons for a player to deposit for gear (weapon tokens is a good example or teiring) and they would still make an operating profit.

So the point is, the 420k usd operating profit, doesn't necessarily equate to bad hunts.

Rick.
Click to expand...
No company in this world will provide free gaming and providing u USD at the same time, like a casino it promise u that if u bet $1 , u can get more in return. Bad hunts is a definite contributor to MA profits, even a 3 year old knows how it works, please really wake up. We are adults playing this game knowing what we could lost, do not whine when u are on a negative, just find some ways to earn peds in this game, there are millions of ways to earn peds (easily) in this game if u are willing to explore the economics side of it, cheers~ happy Monday :)
 
AndrewViperAng said:
No company in this world will provide free gaming and providing u USD at the same time, like a casino it promise u that if u bet $1 , u can get more in return. Bad hunts is a definite contributor to MA profits, even a 3 year old knows how it works, please really wake up. We are adults playing this game knowing what we could lost, do not whine when u are on a negative, just find some ways to earn peds in this game, there are millions of ways to earn peds (easily) in this game if u are willing to explore the economics side of it, cheers~ happy Monday :)
Click to expand...
I'm struggling to understand how your reply, references anything I said. I'm talking about the accounts, and what could generate deposits which potentially could turn a profit for MA.

Revenue can be whatever you want it to be, and derived from whatever they want. If MA can convince players to buy their own gear directly from them rather than loot it (which is the current token situation), then they "could" (I said could) very well give 100% hunting returns. All they've done is switch where their income is made. Far easier to take 200k for a weapon than take 200k from theirr hunt returns. It's perceived value, smoke and mirrors.

You don't walk into a casino and told to pay 20k usd upfront before you qualify for adequate % returns. But that's what we have here. You buy the fruit machine, to play the fruit machine. haha.

Anyway nothing in my thread, spoke about poor returns. I'm simply talking about how MA could or do make money.

All the best

Rick.
 
Yes, gears need to come down in prices, none is buying gear atm sence the prices are way to high. Either Mindark drops more gear to push down the prices or we all wait until all the resellers wanna sell for asmall loss and we all know thats not gonna happen :D
 
"MindArk, the creator of Entropia Universe, today announces that the company will be issuing notices of termination to up to 25 employees, equivalent to 40% of the company's employees. This is a result of the company's strategic ambitions for the future, with Artificial Intelligence (AI) being a central part of it. In order to ensure that MindArk delivers on these ambitions, the company will be restructuring while also establishing a sustainable cost base for the future. The majority of the affected positions are in the fields of graphics and world-building. The exact details and the specific number of reduced positions will be determined in the upcoming period, after the optimal organizational structure has been established and a review of all departments has been conducted. This will be done in accordance with relevant regulations."

Full announcement: https://mb.cision.com/Main/22102/3776263/2089780.pdf
 
Nice find.

I wonder if we'll now see more planet partners joining in since with AI will be easier to develop a planet. However, there are already too many planets in game in relation to the low player base.
 
Dmatrix said:
There goes our awsome graphics! 🙄 And who’s gonna develop the new worlds on the new engine if they all getting fired?! 🤣
Click to expand...
"The focus now shifts towards the development of AI-generated virtual worlds,
which will eventually reduce the barriers of entry for users and partners to own planets or
areas compared to the present day."
 
Good to see the company is doing good, now if only they could pay people withdrawls on time that would be great.

🙃
 
Mika said:
Good to see the company is doing good, now if only they could pay people withdrawls on time that would be great.

🙃
Click to expand...
What are talking about ? How long it took for your last withdraw ?
 
i posed doubts on staff expenses they are already aware and actiing. i wish all the dismissed personllel to find a better job than the one they lost, but for the playerbase this can just mean that the company is sustainable in cost adn can last another 5 years or 10
regarding the procedural generation of areas, well.. this is in diablo 3 rifts since 28 seasons.... (random generation). to generate a landscape in UE5 to import once for all it is supported in the engine with some ease and there are several demos on the "state of unreal".
RT Devs have already implemented "basement dungeons" so this is just an update of that facility related to the new engine.
i would for sure open to myself a rift with a flat room with 1 istant respawn mob of one kind to codex

back on topic, 2nd quarter will be even better returns, the sky is not falling and MA Has reserves for the withdrawal in the balance... it is just usual ranting froma minority of unlucky players, i spoke with a mate yesterday, he received EUR on the 48th day, he withdraws on a regular basis...yes ome skilled players do :) not me
 
Alina said:
What are talking about ? How long it took for your last withdraw ?
Click to expand...
The last withdrawo i did when i did was 5 momths and a lot of complaining, and like others in the current withdrawo time my time to spam tickets is fast approaching.

i expect itll take 70-90 days though instead of the 50 days the pretend is real.

only well know ubers and people from a certain country get speed checkouts these days
 
Dmatrix said:
There goes our awsome graphics! 🙄 And who’s gonna develop the new worlds on the new engine if they all getting fired?! 🤣
Click to expand...
toulan graphics cringe
 
Mika said:
The last withdrawo i did when i did was 5 momths and a lot of complaining, and like others in the current withdrawo time my time to spam tickets is fast approaching.

i expect itll take 70-90 days though instead of the 50 days the pretend is real.

only well know ubers and people from a certain country get speed checkouts these days
Click to expand...

I think u might be right about 70-90 days tho but those are not working days, i can tell you my last was 53 working days.
 
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ProActive Mango said:
Yes, gears need to come down in prices, none is buying gear atm sence the prices are way to high. Either Mindark drops more gear to push down the prices or we all wait until all the resellers wanna sell for asmall loss and we all know thats not gonna happen :D
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Didn't someone buy a lr-40 fen recently and someone else bought a t10 mod merc recently?

Weapons and armors are selling. There's just not a ton of players to exchange hands and have quick sales.
 
Angela Draniie Cloud said:
Didn't someone buy a lr-40 fen recently and someone else bought a t10 mod merc recently?

Weapons and armors are selling. There's just not a ton of players to exchange hands and have quick sales.
Click to expand...
3 mod nanos, a perfected 15 chip, bc80, lr60, lp100 have all sold since Easter mayhem
 
Pete Longmorn said:
"MindArk, the creator of Entropia Universe, today announces that the company will be issuing notices of termination to up to 25 employees, equivalent to 40% of the company's employees. This is a result of the company's strategic ambitions for the future, with Artificial Intelligence (AI) being a central part of it. In order to ensure that MindArk delivers on these ambitions, the company will be restructuring while also establishing a sustainable cost base for the future. The majority of the affected positions are in the fields of graphics and world-building. The exact details and the specific number of reduced positions will be determined in the upcoming period, after the optimal organizational structure has been established and a review of all departments has been conducted. This will be done in accordance with relevant regulations."

Full announcement: https://mb.cision.com/Main/22102/3776263/2089780.pdf
Click to expand...
Hot damn! Bad for those poor souls but REALLY good for this company. It needed to happen 10 years ago.

Too many cooks in the kitchen and everyone steps on each other. Progress will actually speed up when this is complete and (maybe) the reduced overhead means better loot for us, more new players stay and this game starts growing again.

Henrik Nel Jerkrot: Nice work! It can't have been easy for you. Please don't chicken out now!!
 
smoothee said:
Hot damn! Bad for those poor souls but REALLY good for this company. It needed to happen 10 years ago.

Too many cooks in the kitchen and everyone steps on each other. Progress will actually speed up when this is complete and (maybe) the reduced overhead means better loot for us, more new players stay and this game starts growing again.

Henrik Nel Jerkrot: Nice work! It can't have been easy for you. Please don't chicken out now!!
Click to expand...

i cant help but to feel that this seems like naive way to look at it.

‘to many cooks’? They had better results than ever, supposedly, and they have huge ambitions moving forward.

any business model or planning will then look to expand to improve and find more specialized personell. Not reduce the company size by almost half and pur a LOT of work on the remaining enployees

less people is likely going to reduce speed, a lot. As inhumane as it is, look at it like a factory. You have 50 machines designed and able to producing 1 ball each every hour. You remove half of them, pay less electricity, but the remaining machines now need to ramp up, increasing risk of them breaking down by a huge margin. If increasing their load is even possible by design.

so if we dont see them rehire very very soon then yeah i think the people memeing about ue5 in 2026 might be onto something :9 (sadly the insta avcount and all new info on ue5 has more or less stopped for months now too unfortunately)
 
smoothee said:
Hot damn! Bad for those poor souls but REALLY good for this company. It needed to happen 10 years ago.
Click to expand...
These employees were mostly all hired in the last couple of years since the UE5 announcement. As seen by the previous financial reports.
 
Mika said:
i cant help but to feel that this seems like naive way to look at it.

‘to many cooks’? They had better results than ever, supposedly, and they have huge ambitions moving forward.

any business model or planning will then look to expand to improve and find more specialized personell. Not reduce the company size by almost half and pur a LOT of work on the remaining enployees

less people is likely going to reduce speed, a lot. As inhumane as it is, look at it like a factory. You have 50 machines designed and able to producing 1 ball each every hour. You remove half of them, pay less electricity, but the remaining machines now need to ramp up, increasing risk of them breaking down by a huge margin. If increasing their load is even possible by design.
Click to expand...

I'm a software dev by trade and have been doing it for almost 30 years now. Software dev is NOTHING like a factory. NOTHING LIKE A FACTORY

Think of software dev like having a conversation. Would you rather have 10 people talking to you at once or just one person? The job requires concentration and the more people around, the more pointless meetings, more bs emails, more drama, more DISTRACTION

"Too many cooks" is the perfect analogy and has been used in this industry for decades to describe exactly this. Calling me "naive" on this? wtf is wrong with you
 
Angela Draniie Cloud said:
These employees were mostly all hired in the last couple of years since the UE5 announcement. As seen by the previous financial reports.
Click to expand...
This company has been comically overstaffed for at LEAST 10 years. I remember having conversations about this in 2008
 
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