Ubisoft Reveals Net Bookings Declined Over 20% For The Fiscal Year, Fourth Quarter Misses Projections By Over 50 Million Euros
Ubisoft announced that its net booking for its most recent fiscal year 2024-25 declined by over 20% compared to the previous year.
In its Full-Year 2024-25 Earnings Figures report, Ubisoft revealed its net bookings for the fiscal year clocked in at €1.846 billion. That was down 20.5% from 2023-24.
In the company’s conference call, Ubisoft’s Chief Financial Officer Frédérick Duguet revealed this was down from the company’s revised projections, “Net bookings reached €1.85 billion down 20% year-on-year, slightly below our revised objectives.”
He claimed that it missed the revised objectives due to “lower than expected partnerships, notably due to a timing impact” and that “excluding partnerships net bookings were down mid single digit year-on-year.”
In February during the company’s Third-Quarter 2024-25 Sales report, it projected it would have net bookings around €1.9 billion. That was revised down from a press release in September where it expected €1.95 billion. If you go back to the company’s 2023-24 full year report it claimed it was expecting “solid net bookings growth” not a 20% decline.
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Despite the 20% decline in net bookings over the year, Duguet attempted to spin the company’s €902m fourth quarter net bookings as a win. He said that it was “up 3% year-on-year, reflecting a record fourth quarter for Ubisoft.”
However, the company expected to bring in €1.9 billion for the entire year back in February during its third quarter report when it lowered its expectations. That means the company missed its fourth quarter expectations by more than 50 million euros. Making matters worse is they released one of their flagship properties during this quarter, Assassin’s Creed Shadows. Given the huge revenue miss, it seems abundantly clear that Assassin’s Creed Shadow did not sell as well as the company hoped.
Nevertheless, Duguet attempted to spin Shadows as a success stating that it delivered “the second highest Day 1 sales revenue in franchise history, second only to Assassin’s Creed Valhalla. And setting a new record for Ubisoft Day 1 performance on the PlayStation digital store.”
He went on to claim that “consumer spending has been clearly outperforming Assassin’s Creed Odyssey with a superior play count accumulated.”
What do you make of Ubisoft missing its net bookings projection by more than 50 million euros in the quarter it released Assassin’s Creed Shadows?
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