Ubisoft: The upturn must wait until the next fiscal year

The upturn at Ubisoft is taking its time: after the start of restructuring measures, the French game publisher continues to be in the red. In the past fiscal year 2025/2026 (April 1, 2025, to March 31, 2026), the bottom line shows a loss of 1.5 billion euros.

According to Reuters, this is a new negative record for Ubisoft. According to the financial report, it is due in part to a revenue decline of over 20 percent. Ubisoft also expects weak results for the now-started fiscal year 2026/2027, even though the release of “Assassin's Creed Black Flag Resynced” is scheduled for this period. Overall, the release plan for the current fiscal year is quite thin, Ubisoft writes. The company is preparing for a stronger fiscal year 2027/2028.

That's when the turnaround Ubisoft is working towards with its restructuring is expected to succeed. Thanks to new releases in strong brands like “Assassin's Creed,” “Far Cry,” and “Ghost Recon,” Ubisoft aims to generate positive cash flow again, according to the company's financial statement. The positive trend is expected to continue in 2028/2029 and ideally solidify in the long term, Ubisoft hopes.

“Difficult decisions”

“This two-year transformation comes with difficult decisions and a disappointing short-term financial performance,” Ubisoft CEO Yves Guillemot wrote in the financial statement. However, he is firmly convinced that the measures initiated can bring Ubisoft back to success in the long term.

Ubisoft has been in crisis for years, partly because expensive major productions like “Star Wars Outlaws” and “Skull and Bones” did not achieve the hoped-for success. In response, Ubisoft introduced a new organizational strategy: Five “Creative Houses” are central to this, intended to clearly divide brands and game concepts. Furthermore, Ubisoft has discontinued the development of several games and laid off employees. Ubisoft's stock has lost over 50 percent of its value in the past year.

(dahe)