I just wanted to do a very high level summary on the subject, especially for non-financial people. I chose a question and answer format. I hope this helps. P#1:How is GGG doing financially? Longer answer: The strength of its fin. the position is crazy. If for a second we assume that customers' cash is zero (i.e. no mtx sold, no other sales made) then they would still be able to run their normal course of business for at least 2 full years before experiencing any difficulties or having to issue some debt (other things being equal). It's not something you would see often in a company that is investing in growth and development. P#2:How can I measure the amount of fin? support received from customers in a given year? P#3:What has been the overall effect of customer support so far? P#4:Any concerns noted? DISCLAIMER OF LIABILITY: Last occurrence March 7, 2023 01:57:23 m. |
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TL; DR, they don't need your support money as much as you expats probably do. In addition, Tencent is a father now. Congratulations! Nice breakdown, OP. Deeply appreciated. Stranger of Paradise: Final Fantasy Origin succeeds where PoE fails: it uses its story as a meaningful tutorial, then goes from grueling Soulslike to ARPG in its final game, with dozens of amazing builds possible all in one. character. |
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A quick and interesting read, I'm glad to see they're doing well (although I don't like any Tencent connections). I'm curious (and don't have the accounting skills and time to do research) if this includes costs spent on PoE2 Dev or if they are handled in another account not listed in their source materials (or if this is not a known element). |
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oh well i've been up at night imagining these things now i can sleep (sthllkd)s (sthllkd)s (sthllkd)s (sthll) |
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" I wouldn't say they're doing very well after saying that... In the business world, a company's observable financial history is more important than the actual cash on hand it has. Last edited by yamface on Mar 3, 2023 1:30:09 AM |
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" I need to save that for the next time someone comes along to argue that player retention has no financial impact. That's almost a 40% drop in revenue over 2 years. Last edited by Xyel on Mar 3, 2023 1:56:02 |
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" Short answer:In fact, PoE2 has been taken into account. Longer answer:(I didn't want to go into details or technicalities, but I'll make an exception) First, your fin. the financial statements have been audited, so it is safe to assume that they adequately capture and reflect their entire purpose. process. We can see what they capitalized as part of Intangibles in 2022 on page 18, item nº 13 “Intangible Assets” - Accruals. They added $16 million in total capitalized costs. We don't have a breakdown of that amount, but I think we can assume that a large portion of that $16 million would be related to PoE2. The same $16 million is reported on your Statement of Cash Flows (p. 6), which should read as "cash cash in 2022, related to your intangible assets", which is what I took into account in my original valuation . You cannot see the $16 million on your income statement as your operating costs are reported net, so the capitalized portion is hidden (doesn't mean it isn't there). Lastly, there are legitimate ways to keep projects in development almost completely off the books to make a company's finances look better/sounder, but GGG doesn't need any of that as their claims are already great. |
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" You're right, but I just wanted to stick to what's known and tried to stay away from any prospective conclusions as much as possible. So based on their historical data alone, as of October 2022 they have done extremely well. |
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This will be fascinating reading for the year ahead. The rest of 2023 will likely be pretty thin with the launch of D4 and continued PoE2 overhead, not even seeing monetization or returns until 2024. (And Exilecon, which costs a few million to install) I think it's also worth noting that all cosmetics and mtx are carried over to PoE2, so it's hard to see a windfall there. I'm sure there will be new packs and bet boxes but as you pointed out your mtx returns are decreasing comparatively on comps. Ultimately, Tencent owns GGG and while the Publci NZ report is needed, we have no idea what specific expectations Tencent has financially for GGG. It's all speculation, of course, but I very much doubt that a liquidity situation will directly translate to subsequent quarter performance or valuations. Basically, just because you have cash on hand doesn't mean it will perform well or be predicted. My personal opinion would be that GGG is on a solid financial footing, but stormy times lie ahead, with much uncertainty and anxiety. The next 9 months to 2024 and the release of PoE 4.0 will be critical benchmarks in your future. I really wouldn't be surprised. From downsizing, CW resigning or working on another project, to significant changes to your monetization strategy if things go wrong. In any case, interesting times await you. "It is better to remain silent and be considered a fool than to speak and remove all doubts." |
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BOM. Revelation hahahaha |
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General Discussion - How is GGG doing financially - Forum - Path of Exile (2023)
References
- https://demodirt.com/debt-consolidation/simple-path-financial-review/
- https://www.consumeraffairs.com/finance/clearpath-lending.html
- https://www.pathofexile.com/forum/view-post/24911635
- https://financebuzz.com/dream-vacations-that-save-money
- https://www.sentinelone.com/blog/hunting-for-honkbox-multistage-macos-cryptominer-may-still-be-hiding/
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