Shares of Ubisoft fell by 20% following the annual report, as the company reported losses and delays of major games
On the evening of May 14, Ubisoft shared the financial results for the fiscal year that ended on March 31, 2025. Apparently, investors were not very pleased with what they heard: by the morning of the next day, the company’s stock price had dropped by 20.6% to €9.27 per share.
Assassin’s Creed Shadows
General Company Data
- Ubisoft failed to achieve an operating profit. Its annual losses amounted to €82.6 million.
- Ubisoft's annual revenue fell to €1.89 billion, a 17.5% decrease compared to the previous year.
- Ubisoft reported record net bookings for the last quarter of the year (January-March 2025) of $902.3 million, which was 3.4% higher than the previous year. However, for the entire year, Ubisoft’s net bookings fell by 20.5% to €1.84 billion.
Ubisoft’s Revenue, Bookings, and Operating Losses
- 85.9% of Ubisoft's annual bookings came from digital sales. These include sales of digital game copies, DLCs, microtransactions, and subscriptions.
- Just under half of the bookings came from console games, with their share dropping from 56% to 45%. The share of PC game bookings also declined from 32% to 31%. However, the share from mobile games significantly increased from 6% to 16%.
How Ubisoft’s Revenue Distributed Across Platforms
- In terms of regional breakdown, North America accounted for the most revenue at 45%, followed by Europe with 33%.
How Ubisoft’s Revenue Distributed Across Regions
- Ubisoft decided to continue the cost-cutting program launched in 2022. It has already saved €200 million and plans to save at least €100 million more over the next two years.
- As of March 31, 2025, Ubisoft employed 17,782 people. A year ago, their staff was 1,200 larger, and in September 2022, it was 3,000 larger.
- Ubisoft still plans to establish a new subsidiary with support from Chinese giant Tencent. This will occur before the end of 2025. Independent experts from Finexsi acknowledged the decision as financially fair for Ubisoft shareholders.
Game Data
- Last year, over 134 million unique users engaged with Ubisoft console and PC games, with 36 million monthly active users.
- In the Assassin’s Creed and Rainbow Six series alone, there were over 30 million active users, while the Far Cry series had over 20 million.
- Ubisoft is pleased with the release of Assassin’s Creed Shadows but did not provide new figures for the game.
- In its report, Ubisoft discussed the postponement of several unnamed major titles, granting additional development time for quality improvements. According to insider Tom Henderson, this may involve Far Cry 7 and at least one new entry in the Assassin’s Creed series.
- The remake of Prince of Persia: The Sands of Time is expected to release by March 31, 2026.