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Friday, October 11, 2024

EVE Online's Winter 2024 Expansion Announced

Yesterday CCP Games announced the name of the company's winter expansion for EVE Online, Revenant. Releasing on Tuesday 12 November, Revenant continues the story of The Deathless. Along with the expansion announcement CCP released a new trailer (seen below).

The below is from the press release found on the CCP's corporate site. 

REYKJAVÍK, Iceland – October 10, 2024 – Today, CCP Games revealed EVE Online: Revenant, the next expansion for the legendary spacefaring sci-fi MMO, EVE Online. As old threats reemerge, Revenant sees the ongoing Deathless Saga take an unexpected turn when it begins its launch on 12 November. The Drifters have laid siege to the Deathless in Zarzakh, targeting a shrouded and mysterious structure bearing the hallmarks of ancient technology. In the wake of battle and as the promise of its power grows, the Deathless has called upon the capsuleers of New Eden to help uncover its secrets and stand together in the face of rising chaos and conflict.   

As the tides of war shift, EVE Online: Revenant adds new ways for you to build up your war arsenal in the fight against the Drifters. Aid the Deathless in unlocking the structure and secure ancient artifacts to be rewarded with formidable technology to turn the tide of battle in your favor. Construct mercenary dens within nullsec and strategically deploy them around skyhooks to generate encrypted infomorphs that can be exchanged with the Deathless for advanced new ships and cutting-edge weaponry. To boost the production of encrypted infomorphs, capsuleers can undertake Tactical Operations, as well as upgrade their mercenary dens. 

Acquire unique Deathless ships - the Tholos (destroyer) and Cenotaph (battlecruiser) - that specialize in close-range brawls, giving newfound tactical utility across PvP and PvE combat with damage-over-time weaponry. Cloak to ambush unsuspecting enemies before unleashing their signature attack to lay waste from even beyond the grave. 

“An ancient proverb says, ‘The enemy of my enemy is my friend.’ This is the theme for Revenant, which marks the continuation of an intense chapter in EVE’s history: the Deathless Saga,” said Bergur Finnbogason, Creative Director for EVE Online. “While the Deathless may have won the battle for Zarzakh, the Drifters remain an eminent threat, having emerged from the shadows once more. But with this victory the Deathless has managed to get his hands on something that was not meant for capsuleers. Will this newfound technology be suppressed, or will they harness its furious power?” 

At this point I'll start quoting from the expansion's special website to go into some of the juicy gameplay details. First up are the new ships coming in the expansion. Although only two new ships are coming, they will bring a different type of combat tactics.

The Deathless brings a new paradigm to space combat with the unique Tholos destroyer and Cenotaph battlecruiser. These powerful ships use covert ops cloaks to slip close to enemies and unleash devastating SCARAB breaching pods and Shriker Clone weaponry, inflicting damage over time to disrupt enemy internals. Designed for brawling, they are powerful weapons and give a tactical edge in the ongoing war.

For the null sec powers, Revenant will add additional features to the Equinox sov system.

Mercenary dens are deployable structures in nullsec that latch onto orbital skyhooks around temperate planets, utilizing planetary workforces to produce encrypted infomorphs, which are highly sought after by the Deathless . Shortly after launch capsuleers will have the ability to engage in tactical operations to manage development and anarchy levels in their dens, maintaining infomorph production and reaping valuable rewards. Use these dens to build, disrupt, or raid enemy systems and exchange your spoils for exclusive Deathless ships, weapons, and ammo.

This next passage from the press release is more likely aimed at investors rather than players. From years of covering Pearl Abyss' earnings calls, building social cohesion in the form of strengthening player organizations seems to go over well with investors, or at least the financial analysts on the calls.

EVE Online: Revenant also adds new ways for players to unlock their collective and individual potential. Build stronger groups with enhanced Corporation Projects. Streamline your goals: merge diverse activities into one project through expanded parameters and tailor projects by setting deadlines and placing participation limits. Utilize the new ship insurance project type to empower your corporation in automating ship replacement.  

With enhanced expression and customization for SKINR, capsuleers can elevate their creativity and take their creations to new heights. Experiment with new nanocoatings and patterns, blending them together to craft stunning SKINS. Design exclusive SKINS for your corporation or alliance, allowing you to showcase your colors in unison and strengthen your visual presence across New Eden. A new section in the Paragon Hub makes it easy to find SKINS tailored specifically for your group, enabling you to create a unique "uniform" and share it exclusively with fellow members. 

"Strong organizations are the lifeblood of EVE Online. With Revenant, we’re giving players the tools to strengthen their corporations. Enhanced Corporation Projects will help streamline goals, while the new SKINR features allow for creative expression of your group's identity. These updates will empower players and foster a sense of unity across New Eden,” said Snorri Árnason, Game Director for EVE Online

Honestly, I'm not sold on the SKINR system. Ask me again in a month if CCP meets it's revenue goal of ₩20 billion in the 3rd quarter. However, alliance logisticians might find some of the new features appealing.

Corporation leaders can better manage their organization’s goals with enhanced Corporation Project capabilities. Expanded project parameters add flexibility, allowing leaders to set comprehensive, complex and diverse goals, such as mining in multiple locations or targeting various ship types and ship groups. The new Ship Insurance project type (coming shortly following the Revenant launch) offers a streamlined way to automate ship replacement programs, providing a seamless and guaranteed compensation system for members based on the loss value. Project deadlines help corporation leaders prioritize and communicate goals and can signal the urgency and importance of specific projects, helping members prioritize their efforts. Finally, participation limits will ensure equitable involvement across members.

And yes, one needs to read the fine details to see CCP's version of a ship replacement program will appear sometime after the expansion's launch.

Finally from the press release, is Revenant the expansion which introduces integration with EVE Vanguard?

As war flares in the skies above, EVE Vanguard will also take the conflict planet-side with a new public event running 28 November - 9 December. As the largest update yet for the in-development online sci-fi FPS, experience new content, features and a deepened vision for boots-on-the-ground combat within New Eden.

The press release didn't mention a couple of important items. The first is a new use for Evermarks.

Choose how you progress in New Eden with the flexibility of using EverMarks to complete AIR Daily Goals (coming shortly following the Revenant launch). Whether a task doesn't suit your playstyle or seems out of reach, EverMarks let you stay on track while focusing on the activities you enjoy. This empowers you to customize your daily experience and still gain the rewards and progression needed to stay ahead.

I don't think I've ever used any of my EverMarks. I do wonder if the developers will remove Evermarks as a daily reward from the AIR Daily Goals.

The second item are login rewards. The news article on the EVE Online site provided the information.

In celebration of the Revenant release, capsuleers who log in daily for the first two weeks will earn a variety of rewards, including a total of 10,000 EverMarks, SKINR design elements, boosters, Skill Points, and more. Both Alpha and Omega clones will benefit from these rewards, with Omegas getting both.

We'll see more details over the next four weeks, but for now we have a name and date for the new expansion.

Thursday, October 10, 2024

A Look At The Active ISK Delta In September 2024

With the end of September another fiscal quarter is in the books. Before we get financial reports from everyone from game companies to the Federal Reserve, CCP Games has published EVE Online's in-game monthly economic report for September 2024. As usual I will focus on the Active ISK Delta with a little information to put the figure into historical perspective.

The Active ISK Delta is the net effect on the New Eden monetary supply of players leaving and returning to the game. The Active ISK Delta also includes any reductions due to any and all GM actions. In September, 65.3 trillion ISK left the economy from the movement of players into and out of the game. The change made the Active ISK Delta the biggest ISK sink in the game, dwarfing the 18.7 trillion ISK removed from the economy through transaction taxes.

Normally CCP would like to see players returning to the game in September. But if the Active ISK Delta is any indication, more players left the game in September than in August. The amount of ISK leaving the game actually rose from 35.5 trillion ISK in August. Now, the change could also indicate fewer left the game, but that those who did were longer term players. Either way, not really a good sign.


Being the end of September, I looked at the total Active ISK Delta over the 3rd quarter of 2024. For the information I have going back to the beginning of 2018, Q3 saw the smallest Active ISK Delta over the past 7 years at -240.5 trillion ISK. The ISK removed from the game by players not logging in for 30 days and GMs confiscating ISK was 10.7% of the money supply on 1 July 2024. Overall, the New Eden money supply fell by 1.7% during the course of the 3rd quarter.


While the money supply was falling, did that mean player activity declined as well? A quick look at the ISK velocity shows the answer is no. The overall velocity of ISK reached 0.5 again, meaning that the level of trade in September was in the neighborhood of 1.1 quadrillion ISK. Converted to something more tangible, that is approximately 386,000 months of game time using the Jita average on 30 September. For those who like real money conversions, the amount of trade is approximately $2.1 million if the game time is purchased at the 3 month rate in the cash shop.


Believe it or not, year-over-year less ISK left the economy as measured by the Active ISK Delta. The historical average value in September since the introduction of a free-to-play option is -40 trillion ISK. This year's figure improved upon last year's total of -78.1 trillion ISK by 12.8 trillion. So perhaps the trend is more positive than the rest of the metrics I'm looking at would leave one to believe.

Combining data sources helps paint a cleaner picture of the activity inside EVE Online. The data from Dotlan Maps showed a decline in activity in September. The Active ISK Delta then showed a record amount of ISK leaving the game as players fell inactive. But the remaining players didn't really let up on the economic activity as seen by the increasing velocity of ISK during September. Are we set up for a big reaction to the winter expansion when CCP finally announces the expected new content drop? To tell the truth, the game possibly is healthier than last year so we'll have to see.

Wednesday, October 9, 2024

The Real Significance Of The Crunch Time For CitizenCon Story

Back at the beginning of the Squadron 42/Star Citizen project in 2012, Chris Roberts argued for crowd funding to free himself from the shackles of the greedy publishers who would hamper his efforts to make the best damn space game simulation possible. But after 12 years and $725 million in sales, time may be running out on Cloud Imperium's immunity to the same financial pressures game publishers face when backing the development of a game.

The latest example is the kerfuffle around the mandatory crunch time to work on preparations for this year's CitizenCon event. CitizenCon is CIG's annual event for the more hardcore members of its fan base. Think of Activision-Blizzard's Blizzcon or CCP Games' Fanfest for comparisons. According to a report from Insider Gaming, the managers at CIG are instituting crunchtime for the two weeks leading up to the event.

The company mandate states:

  • All staff are to be in the office on Friday, October 4th and Friday, October 11th (typically a work-at-home day)

  • All staff are to be in the office on Saturday, October 5th, and Saturday, October 12th (for these days, the company will provide breakfast and lunch, with staff receiving company TOIL (time off in lieu) which can be stored and used for time off at a later date)

  • All staff are to work on Sunday, October 6th, and Sunday, October 13th (this can be a work-at-home day, but the company “encourages” people to be in the office. For these days and for those in the office, the company will provide breakfast and lunch, with staff receiving company TOIL, which can be stored and used for time off at a later date)

Also, in the case of Squadron 42, the crunch time preparing for CitizenCon goes back to July if the Insider Gaming report is to believed. And given the reaction from individual developers, I believe the reporting.
Another internal email sent to Insider Gaming in July 2024 reveals that Cloud Imperium Games “pre-approved” 12 hours of ‘SQ42 TOIL’ per week for developers to meet Citizencon deadlines. The catch? The TOIL will only be made available after Squadron 42 ships, and employees must still be employed with the company by the time the game ships, or the TOIL “will be forfeited.”
Most of the stories I've read and heard about the incident focus on labor law and the effect on CIG's employees. And given stories like initially not allowing employees in its Austin studio to take off time during the big winter storm of 2021, I can see why gaming publications would continue with that theme. But as suggested at the beginning of this post, I have a different take on the situation.

Throughout the year I've seen signs that money is becoming an issue for CIG. From the layoffs at the beginning of 2024 to the revelation the company has significant unfunded financial obligations coming due in 2028. time is running out on CIG. Of course, if Squadron 42 is a good game and does decent financially a lot of the financial worries go away. 

I think after Chris Roberts' statement at CitizenCon last year that SQ42 was "feature complete" that many people believed the game would release either sometime in 2024 or 2025. Did the expectations for the game's release finally cause crunch time at CIG? Or is the financial situation such that CIG needs the pre-order money for SQ42 and thus needs to make a big announcement at CitizenCon that can't go wrong or look haphazard? From what I can tell, I'd guess the latter is the case. After all, the Calders could exercise their put option in the first quarter of 2025 if they feel revenue will decline over the next three years compared to the record period of 2022-2024. And that would damage CIG's ability to publish SQ42, let alone complete Star Citizen.

Monday, October 7, 2024

A Look At September 2024 Activity In EVE Online

September is usually a key month for EVE Online. An increase in activity usually indicates a lot of interest in the game and a good financial showing for the third quarter. If no growth occurs, don't expect a really good winter. For CCP Games, I think they should thank the stars EVE Galaxy Conquest launches at the end of the October.

 
Our first indicator, as always, is average concurrent users. Jester's tracking graph shows the number of players logged into the game stayed consistently around 21,000 accounts. Not a good sign historically except in 2023 when the ACU dipped from 19,000 down to 18,000 in the middle of the month. Has the return to the two-expansions a year model changed player behavior? We'll see in November.


Looking at general month-over-month numbers, activity dipped a bit in high sec killing of NPCs, dropping 5.1% at a time the number should increase. Player ship deaths remained flat with a little additional activity in factional warfare and insurrection sites. But perhaps surprisingly, players slowed down killing each other in null sec, with player ship deaths declining 8%. I guess the Imperium's takeover of the cluster's south and south-east so the organization can move out of Delve slowed down activity.


Year-over-year, though, activity is still up. The kill exchange incentives the developers installed still distort the high sec ship kill numbers although players killed NPCs at increased rates. The big numbers are in null sec, as three months into a null sec expansion we see year-over-year growth. The ratting activity is most telling as the number of NPCs killed in null rose 32.6% compared to the number killed in September 2023.

 

With CCP's change in focus to null sec I'll also look at the engine that keeps EVE Online afloat financially: null sec PvE. While numbers are not climbing, players are presumably adapting to the new Equinox sov system slower than I think the developers anticipated. At least, that's my opinion based on the latest patches and the way the dev blogs try to cajole the null sec alliances to adapt to the new system. Of course, the Imperium is probably adapting in a way unanticipated by the devs, with the number of dead NPCs not rising as expected. Yes, always blame the Goons.

Numbers should rise in October as the weather gets colder and Crimson Harvest occupies everyone's attention. I do have to wonder if the SKINR system brought in enough income to tear apart previous financial estimates or if players logging in and shooting things in internet space is a good barometer of how the EVE Online is doing in the eyes of our overlords in Anyang. I guess we'll see next month.

Thursday, October 3, 2024

EVE: Galaxy Conquest To Launch October 29th

I'm a week behind the announcement, but due to the importance of the news I do need to make a post. On the Q2 2024 earnings call investors were told they should expect the EVE franchise to earn at least ₩20 billion in revenue every quarter. A part of that is the launch of the new games under development at CCP Games. The first of those games, EVE: Galaxy Conquest, is due to launch on 29 October. I'm pretty sure CCP won't mind if I copy/paste from the press release announcing a cinematic trailer for the new game. 

The cinematic trailer

REYKJAVÍK, Iceland – September 26, 2024 - CCP Games today announced the official launch date for EVE Galaxy Conquest, the free-to-play 4X strategy game that brings the intense player-driven conflict of New Eden to mobile devices. Aspiring Commanders can prepare for galactic warfare on October 29, 2024, when the game launches worldwide on iOS and Android devices. To mark this occasion, CCP has released a breathtaking cinematic trailer and opened pre-registration in the Apple App Store and Google Play Store.

Developed by CCP Games’ Shanghai studio, EVE Galaxy Conquest transports the intense player-driven conflict of EVE Online’s renowned universe to mobile devices. Nefarious forces have unleashed an unprecedented assault, overwhelming the established Empires. To combat this extreme threat, Empire leaders have initiated the Valhalla System, resurrecting heroic Commanders to spearhead the fight in retaking New Eden. Choose your Empire and form fleets with iconic ships from EVE Online to dominate the galaxy, whether by forming alliances or acting alone in a seasonal battle for factional supremacy. Build unstoppable armadas, form corporations with allies, and vie to conquer the cosmos itself.

“October 29 marks the day when Commanders will rise to reclaim New Eden from the forces that seek to destroy it,” said Bing Mikael Xi, EVE Galaxy Conquest’s executive producer and CCP Shanghai’s General Manager. “The galaxy's fate hangs in the balance, and we can’t wait to see the alliances and rivalries that will shape its future.”

The cinematic trailer plunges viewers into the heart of New Eden’s crisis, showcasing the fall of the great Empires to an unprecedented pirate assault, the activation of the mysterious Valhalla System, and the resurrection of legendary Commanders tasked with leading the counterattack.

“EVE Galaxy Conquest translates the vast, player-driven universe of EVE Online to the palm of your hand in a new 4X experience,” said Michael Lee, Brand Director at CCP Shanghai. “Whether you choose to forge alliances or stand alone, your decisions will shape the future of the galaxy.”
In order to ensure meeting Pearl Abyss' financial goals for the franchise, EVE Galaxy Conquest will need to earn ₩3-4 billion ($2.2 million to $3 million) per quarter until the two games in the development pipeline, the FPS game EVE Vanguard and MMO blockchain-based EVE Frontier, come online. Due to the activity levels seen in EVE Online over the summer, do not expect overall franchise sales to meet Anyang's ₩20 billion quarterly goal on the next earnings call, as EVE Galaxy Conquest did not launch in the 3rd quarter. Then again, I believe the plan was always for the new mobile game to launch in the 4th quarter.

Wednesday, October 2, 2024

EVE Online Patch Notes: Skyhook Enhancements And FAQ

CCP is in the process of dropping the last of the Equinox sovereignty system into EVE Online's null security space before the winter expansion arrives in the next month or two. Yesterday's patch updated orbital skyhooks, one of the lynchpins of the new sov system. The deadline for switching to Equinox sov is Tuesday, 29 October. Not much time which is why CCP also published an FAQ for what is coming up next. I figured having both the FAQ and patch notes in one place might be helpful. I'll start with the FAQ.

Frequently Asked Questions
 
What happens to my old upgrades and territorial claim units (TCUs)? 

Your old upgrades and existing TCUs have had their reprocessing rates adjusted so you will get back the full bill of materials upon reprocessing them. 

When will the grace period for removing rigs end? 

On 29 October at 11:00 UTC. 

What happens if I am in the process of building a supercapital manufacturing upgrade in a system that can no longer support it after the transition? 

The building process will be paused. If your system cannot physically install the necessary upgrades, the Game Masters will refund you for your build’s bill of materials. 

Where will information about skyhook vulnerability be visible? 

Vulnerable skyhooks will appear in the Agency and on the map. 

When can the secure bay be emptied? 

The secure bay can be emptied at any time. 

When a skyhook comes out of reinforced mode, is the next vulnerability period based on that timer or the original vulnerability timer? 

Skyhooks will always use the reinforcement timer to determine their next vulnerability period. 

How is the skyhook vulnerability window calculated? 

The vulnerability window for the skyhook is determined by its reinforcement timer, which is calculated using a normal distribution within a 3-hour standard deviation. The next vulnerability window is 72 hours +/- the variance from the normal distribution, shown below. 


Does this mean that the timer will start exactly every 3 days? 

Not quite. Initially, timers may seem to follow an exact 3-day cycle, but as the system continues to generate timers with random offsets, they will gradually start spreading more evenly across the days. Below is a worst-case scenario simulation of how the vulnerability windows distribute in a hypothetical situation where every skyhook had the same reinforcement timer. In practice, this will even out much faster.  


How long is the window to raid a skyhook before it becomes invulnerable? 

A skyhook will remain raidable for one hour after the vulnerability window opens. 

Will I see the skyhook timer anywhere in space, or will I have to warp to the skyhook to see it? 

All vulnerable skyhooks are visible through the Agency and on the map, and all pilots belonging the same corporation as the skyhook owner, with the correct roles, can see the vulnerability timers in a new tab on the structure browsers. 

However, if you do not belong to the same corporation as the owner, and if it is currently invulnerable, you will need to warp to the skyhook to see its timer. 

I started the post with the FAQ because I know how much people love reading patch notes. But anyone trying to figure out how to min/max orbital skyhook mechanics probably wants to read the details as well. Below are the patch notes for yesterday's update.

Patch Notes for 2024-10-1.1

Features & Changes:

Sovereignty:
  • Skyhooks have now been updated to Upwell’s latest firmware → Equinox Update: Enhanced Skyhooks | EVE Online

  • Skyhooks now have a Secure Bay and a Surplus Bay, rather than an Immature and Mature Bay.

  • The Secure bay can be accessed by players on the ACL at any time, and 50% of all the materials harvested from the Skyhook enter into the secure bay.

  • The Surplus bay can only be accessed through the Skyhook raiding gameplay, and contains the other 50% of the reagents generated.

  • There is no longer any waste when raiding a Skyhook, you get 100% of the surplus bay contents on a successful raid, the secure bay is not affected.

  • The Skyhook Reagent silo is now only vulnerable to being attacked during a 1 hour interval, every 3-4 days, the time period for the surplus bay is loosely based on the 6 hour exit window chosen by the Skyhook owner for their reinforcement timer.

    • It should be noted that while it is likely for a Skyhook theft event to come out in a timezone favorable to the defender, Skyhooks theft events can actually happen at any time of the day. Skyhooks use a gaussian distribution to determine the next vulnerability window.

  • In this example, a Skyhook has a 68.2% chance to come out sometime in the 17:00 to 23:00 window set by the defenders, but it does have also have a chance to come out at anytime of the day. There is a 27.2% chance that it will instead come out at some time in the 3 hour window before or after their preferred time, a 4.2% chance it will come out 6 hours before or after their preferred 6 hour long time window, or 0.2% chance to end up at a time in the completely opposite timezone.

  • If a Skyhook is not raided during it’s 1 hour interval, then it will reschedule a new time, and the materials in the surplus bay will remain inside and effectively roll over, meaning the next time it’s vulnerable, if it was raided, it would have 6-8 days worth of reagents inside and so on.

  • If a Skyhook is successfully raided, then its vulnerability will end early and reschedule, so any vulnerable Skyhook you raid will be guaranteed to have 3-4 days worth of reagents in it at minimum.

  • If the Skyhook owner changes the reinforcement timer of a Skyhook, then the current scheduled vulnerability will not change, and the new reinforcement timer will only have an influence on the Skyhook when the next Skyhook theft vulnerability window is chosen.

  • Skyhook owners can no longer offline or turn off Skyhooks on reagent planets (Ice/Lava).

  • Skyhook owners with the Station Manager or Director roles can see the vulnerability timers of their Skyhooks remotely using the my Skyhook page on the structure browser.

  • Skyhooks which are currently vulnerable can be seen by any player using the world map Vulnerable Skyhooks filter or by using the Colony Resources page in the Agency and choosing to view theft vulnerable Skyhooks.

  • All Players can also see the vulnerability schedule of a Skyhook if they warp to the Skyhook grid.

  • The Link period for players who are on the Skyhook Reagent ACL has been reduced to 5 minutes instead of 10 minutes.

  • Skyhooks will immediately alert everyone within 2 jumps of a Skyhook if a "friendly theft" is activated, just like the notification which would happen if a regular raid was at the 5 minute mark.

  • Skyhooks have a 50% chance to drop all of the contents in their Secure and Surplus bays when killed (just like regular player ships).

Tuesday, October 1, 2024

Cloud Imperium Games' Sales Up 13.7% YoY In Q3 2024

Cloud Imperium Games, makers of the under development video games Star Citizen and Squadron 42, maintained the revenue growth in the third quarter of 2024 according to statistics found on the CCU Game dashboard. The company followed up a 13.1% year-over-year growth in sales in the second quarter with a 13.7% increase in the third. September played a big part of the increase posting $6.9 million in sales, a 36.9% increase from September 2023's total of $5.0 million. For the first nine months of 2024, sales revenue as measured by the funding counter is $68.4 million, up 3.6% from last year's figure of $66.0 million over the same period.

For those who keep track of new accounts (aka "new citizens"), September's 19,243 was 70.2% smaller than the total of 64,682 in September 2023. For the quarter, CIG attracted the creation of 83,521 new paid accounts, an 80% decrease over Q2 2023's total of 150,383. For the first half of 2024, account generation is only down 31.4%, 346,062 accounts over the first 9 months of 2024 vs last year's number of 504,789.

Overall, the recorded sales tracked on the CCU Game dashboard is $725.9 million since the launch of the Kickstarter in October 2012. But Cloud Imperium has additional funding sources not tracked by the dashboard. Overall, the company has recorded $824.5 million in confirmed revenue (the funding page & the 2022 financial report).

  • Sales/Pledges: $725.9 million (through 31 September 2024)
  • Subscriptions: $33.0 million (through 31 December 2022)
  • All other sources: $65.6 million (through 31 December 2022)

In addition, the company has received a total of $63.25 million in outside investment. According to the 2022 financial report, $4.8 million of the amount was returned to investors in 2020. Including the outside investment money, the total amount raised by CIG to create Squadron 42 and Star Citizen is $887.8 million.

Since the launch of Star Citizen's patch 3.23 in May, the company has experienced double-digit revenue growth from its cash shop. For the third quarter, the $1.7 million YoY revenue growth exceeded the 5-year average of $1.4 million. The company will need to continue that level of sales as average year-over-year revenue growth in the 4th quarter over the past 5 years has only been $6.5 million. Maintaining that level of growth would result in a rise of 12.7% in year-over-year sales. I have the feeling CIG is looking at the average year-over-year growth rate of 24% from 2019-2023, or almost double that amount, in order to pay all the bills.