Ubisoft has released its first-quarter financial results for the fiscal year 2025-26, reporting earnings that fell below expectations. The company’s revenue amounted to €310.8 million ($365 million), down 3.9% year-on-year. Net bookings also decreased by 2.9% to €281.6 million ($331 million).
Despite the overall decline, some positive trends were noted, particularly in the performance of certain titles and back-catalogue net bookings. Digital net bookings reached €250.2 million ($294 million), down 2.7%, while back-catalogue net bookings increased by 4.4% to €260.4 million ($306 million). Yves Guillemot, Ubisoft co-founder and CEO, described the first quarter as delivering “mixed results.” He highlighted the success of Assassin’s Creed Shadows, which exceeded five million unique players since its launch.
Rainbow Six Siege X also received positive player feedback for its renewed gameplay and enhanced features, driving significant player engagement growth. However, Rainbow Six Siege X faced temporary disruptions due to a “pricing exploit,” which Guillemot acknowledged as a setback.
Ubisoft reports mixed Q1 performance
Despite this, he expressed confidence in the game’s growth potential, citing solid traction on activity and in-game spending. Ubisoft also announced a significant reorganization into business units called “Creative Houses.” These units aim to enhance quality, focus, autonomy, and accountability while fostering closer connections with players. The company mentioned that their transaction with Tencent is progressing well and is expected to be approved by the end of the calendar year.
Looking ahead, Ubisoft reaffirmed the Switch 2 launch of Star Wars Outlaws on September 4 and mentioned the release of its second DLC, A Pirate’s Fortune, in May. The Division 2 also had a strong start to the fiscal year with the launch of Year 7, the Battle for Brooklyn DLC. Guillemot emphasized the progress made on Ubisoft’s transformation through the introduction of the new operating model built around Creative Houses.
He believes these units will boost the company’s creative vision and business performance by focusing on specific types of gaming experiences. The recent announcement of the leadership team for the new Subsidiary, which oversees flagship brands such as Assassin’s Creed, Far Cry, and Rainbow Six, marks a significant step toward a more agile and focused organization, ensuring long-term stability and creative vision.
