Amidst the mass layoffs, restructuring, and union protests, Ubisoft finally has some good news to look forward to. First reported by Gamesindustry.biz, the company published its financial reports for 9 months (ending on December 31st, 2025) and saw an 18% increase in net bookings. The credit of which belongs to the widely successful Assassin’s Creed franchise.
This goes to show that despite some underwhelming recent releases like Assassin’s Creed: Shadows, the franchise on its own is still beloved by the community. In fact, old AC games were responsible for increasing sales by 11% to €297 million, with some help from Avatar and The Division.
While the top-line numbers are solid, the context around them is more complicated than a typical quarterly report. Ubisoft is deep into a restructuring phase, part of an effort to reduce costs, refocus on core franchises, and adapt to shifting market dynamics. So, while the company reports good numbers, things aren’t that peaceful on the inside.
A Look At The Numbers
While Ubisoft had a strong Q3 in terms of net bookings, revenue was down 1.4%. In 2025, Ubisoft generated €976.2 million (approximately $1.15 billion USD) in revenue. Especially in the three months ending on December 31, 2025, net bookings were up 12%, and digital net bookings were up 10.7%.
But it’s worth unpacking what “net bookings up 12 percent” actually signifies. Booking growth reflects what customers committed to spending over a period, not cash received in the quarter itself. In simple terms, it’s the amount customers have agreed to pay, including game purchases, pre-orders, and in-game purchases.
But what’s surprising is the timing.
Ubisoft is going through major restructuring. Many studios under it have either been closed or restructured, and several projects have been cancelled or delayed indefinitely. This was all part of a cost-cutting initiative from Ubisoft. Those moves have drawn internal backlash, including the recent coordinated walkout by staff in Europe.
In short, Ubisoft’s Q3 performance shows resilience where it counts commercially. While things seem great on paper, the company is still struggling to manage internal conflicts. The good news is just that “increase in net bookings.” Apart from that, Ubisoft is still navigating a dangerous storm.
