Ubisoft has published its first quarter financials, with net bookings reaching €255.8 million.
This result was “slightly above guidance” thanks to Invincible: Guarding the Globe, but down 9.2% year-on-year.
The company attributed the decrease to a “high comparison base” from the same period last year, which included significant revenue from Assassin’s Creed Shadows after launching in March.
Here’s what you need to know:
The numbers:
- Revenue: €268.2 million (down 13.7% year-on-year)
- Net bookings: €255.8 million (down 9.2% year-on-year)
- Digital net bookings: €206.2 million (down 17.6% year-on-year)
- Back catalogue net bookings: €221 million (down 15.1% year-on-year)
The highlights:
Ubisoft’s net bookings were driven by the mobile title Invincible: Guarding the Globe, following the TV series’ fourth season release and the addition of a new in-game character.
Together, these factors “drove meaningful player acquisition, retention, and monetisation.”
Tom Clancy’s Rainbow Six Siege performed “in line with expectations,” with average daily active users increasing slightly after the launch of Siege X.
The Division 2 launched Year 8 Season 1, resulting in “improved year-on-year monetisation trends driven by virtual currency conversion and DARPU records.”
The Crew Motorfest saw year-on-year growth in active users and session days after its NASCAR-themed ninth season and its inclusion on PlayStation’s PS+ subscription service.
Ubisoft’s second quarter began strongly, led by the release of Assassin’s Creed: Black Flag Resynced, which sold 3.5 million copies in its first two weeks and has “exceeded annual expectations.”
The franchise achieved record performance on PC, reaching a peak of 105,000 concurrent players on Steam, the highest ever for an Assassin’s Creed title on the platform.
This resulted in a “historical proportion of sales for the franchise on PC,” driven by strong performance in the US and Chinese markets.
“The strong launch of Assassin’s Creed Black Flag Resynced in early July by Vantage Studios is an encouraging proof point,” said Ubisoft CEO Yves Guillemot.
“This launch illustrates the enduring appeal of the Assassin’s Creed brand, as well as the early benefits of our ongoing transformation and commitment to delivering very high-quality experiences.”
Ubisoft has continued making progress in its group-wide transformation, announced earlier this year with the formation of Creative Houses.
Former Amazon Games vice president and 2K co-founder Christoph Hartmann has been appointed general manager of Creative House 2.
This unit oversees the Splinter Cell, The Division, and Ghost Recon franchises, and will also house March of the Giants.
The company also closed studios in Winnipeg and Belgrade and reduced publishing roles worldwide, with 380 jobs reportedly at risk. Ubisoft proposed that Ubisoft Barcelona will focus exclusively on the Rainbow Six franchise.
Ubisoft’s Barcelona studio was affected by layoffs after the launch of Black Flag Resynced, leading to staff strikes.
Ubisoft expects net bookings to decline “by a high single-digit percentage” and anticipates a “high single-digit negative non-IFRS operating margin.” Net bookings for Q2 are projected to be around €370 million.
“FY2026-27 remains a year of disciplined execution as we continue to implement our transformation, invest behind our strongest opportunities and prepare for a significantly stronger content cycle,” said Guillemot.
“We are confident this new operating model will strengthen our position as a leading creator of high-quality, memorable and engaging entertainment experiences, and enable the Group to return to a stronger trajectory of performance, cash generation and long-term value creation.”
