UBISOFT Entertainment

UBI

Equity

ISIN FR0000054470 / Valor 491199

Euronext - Euronext Paris (2026-04-28)

EUR 4.92-1.03%

UBISOFT Entertainment
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About company

Ubisoft Entertainment is a multinational company engaged in the creation, development, and publishing of video games. It operates a network of studios worldwide, with a workforce of approximately 17,000 employees, and focuses on both developing original titles and licensing high-profile games. Recently, the company secured cloud streaming rights for a major slate of games—including titles like Call of Duty—through an agreement contingent on the completion of Microsoft’s acquisition of Activision Blizzard, positioning these titles on its Ubisoft+ service as well as through licensing to other digital gaming platforms. Additionally, Ubisoft invests in technological tools that enhance accessibility in gaming, such as its open-source colorblind simulation software, supporting developers in creating more inclusive content.

Summarized from source with an LLMView SourceSector: Technology

Q3 headline numbers

Net bookings for Q3 2025-26: €337.7m (+11.9% YoY; ~€338m, above the revised guidance of ~€330m). IFRS 15 sales for Q3: €318.4m (flat YoY). Back-catalog net bookings in Q3: €297.0m (+11% YoY).

Nine-month performance

Net bookings for the first nine months: €1,110.1m (+17.6% YoY). IFRS 15 sales for 9 months: €976.2m (‑1.4% reported; +1.0% at constant FX). Digital net bookings for 9 months: €941.7m (+20.1%).

Revenue mix & recurring sales

Player Recurring Investment (PRI) for 9 months: €623.5m (+36.6% YoY), showing stronger monetization from digital items, DLC, subscriptions and advertising. Back-catalog accounted for the bulk of Q3 activity and showed healthy growth.

Franchise and product highlights

Strong contributions from Assassin’s Creed (nearly 2x YoY for 9 months; session days +28% YoY in Q3), Avatar (Session Days nearly doubled YoY after expansion and 3rd‑person update), Anno 117 launched well (better initial net bookings than Anno 1800), while Rainbow Six Siege and The Division franchises showed steady live‑service performance.

Activity / audience metrics

Console & PC MAUs in Q3: 34 million (stable YoY); December MAUs: 38 million (+3% YoY). Unique active users across platforms in calendar 2025: ~130 million, indicating broad engagement across the portfolio.

Balance sheet & liquidity

Cash & cash equivalents expected at €1.25–1.35bn at end‑March 2026 and fully available to service near‑term debt maturities. The Group says it has sufficient liquidity for near‑term needs while exploring options to extend debt maturities.

Strategic transactions

Completion of Tencent’s strategic €1.16bn investment into Vantage Studios (pre‑money value €3.8bn) boosted cash and financial flexibility; proceeds are available to address upcoming maturities and support the transformation.

Group transformation & cost measures

New operating model around five Creative Houses is being rolled out (leadership appointments starting March). Consultations begun to reduce ~200 HQ positions in France as part of a move to a leaner HQ and greater studio accountability.

Outlook & Q4 pipeline

Full‑year 2025‑26 targets reaffirmed: net bookings ~€1.5bn; non‑IFRS EBIT around ‑€1.0bn; free cash flow between ‑€400m and ‑€500m; non‑IFRS net debt €150–250m. Q4 releases include Rainbow Six Mobile (global launch Feb 23) and The Division Resurgence (release date to be announced).

Summarized from source with an LLMView Source

Key figures

-52.5%1Y

-81.4%3Y

-92.3%5Y

Performance

76.2%1Y

60.5%3Y

54.6%5Y

Volatility