French video game publisher Ubisoft confirmed its full-year financial targets after third-quarter net bookings surpassed expectations, driven by solid demand for its flagship Assassin’s Creed franchise.
Quarterly net bookings reached 338 million euros, up 12% year-on-year and above the company’s prior guidance of 305 million euros. Ubisoft maintained its forecast for approximately 1.5 billion euros in full-year bookings and an operating loss of about 1 billion euros.
The company has faced prolonged challenges, with its shares down more than 80% from their 2018 peak amid delays, weaker releases, and profitability concerns. In January, Ubisoft announced a restructuring plan that included canceling six games and closing studios in Halifax and Stockholm. The overhaul reorganized the business into five genre-focused “Creative Houses,” with leadership appointments set to begin in March.
Performance in the quarter was supported by the launch of Assassin’s Creed Shadows on Nintendo’s Switch 2, contributing to strong engagement. Ubisoft said its brands reached around 130 million unique active users across consoles and PC in 2025, including titles such as Far Cry.
The company expects cash reserves between 1.25 billion and 1.35 billion euros by the end of March, enough to cover a bond maturity due in November 2027. Management said it is exploring options to extend debt maturities as part of its broader financial strategy.
