Ubisoft reports €1.5 bn loss, pushes profit recovery to 2027/28

Ubisoft announced a net loss of almost €1.5 billion for the fiscal year 2025/26, the biggest loss in its history. The company recorded an operating loss of €1.32 billion and a 17.4 % drop in net bookings to €1.53 billion. Revenue is expected to decline further by eight to nine percent in the current year.

The French publisher is postponing its target to return to profitability by one year, now aiming for the 2027/28 fiscal year, and expects a positive free cash flow only then. To stabilize cash flow, Ubisoft cut roughly 1,200 jobs, bringing staff to about 16,600 worldwide, and is pursuing cost‑saving measures that reduced fixed costs by €118 million.

A joint‑venture with Tencent will inject €1 billion, providing additional liquidity, while the company relies on upcoming releases such as “Assassin’s Creed Black Flag Resynced” slated for July 2026 to support revenue. The stock fell sharply after the results, trading near €4 per share, halving its market capitalisation.