Ubisoft Entertainment SA (UBI) Earnings Call Transcripts

Ubisoft Entertainment SA's Latest Earnings Call - May 20, 2026

In the fiscal year 2026, Ubisoft Entertainment SA reported full-year net bookings of EUR 1.525 billion, a decline of 17% year-on-year, primarily due to a softer release schedule. The company also announced a free cash flow consumption of EUR 443 million, aligning with their updated target range. Management signaled that fiscal year 2027 will be another challenging year, with expectations for net bookings to decrease by a single-digit percentage and free cash flow consumption capped at EUR 500 million, but they anticipate a significant rebound in fiscal years 2028 and 2029 driven by a stronger content pipeline and improved live services.

Reported metrics

Guidance from management

For fiscal year 2027, Ubisoft expects net bookings to decline by a single-digit percentage and free cash flow consumption to be capped at EUR 500 million. They anticipate a significant rebound in fiscal years 2028 and 2029 driven by a stronger content pipeline.

What management said

Yes. Thank you, Doug. So what we've seen with both launches is that they've been very well received by the players with high community sentiment, praising the quality of the game-play and the faithfulness to the original experience. We can qualify at the start as being slower than expected in both cases. But we see that there are a number of good features that we can bring to those games to progressively grow the aud...

What analysts pressed on

Analysts expressed concerns regarding the impact of lower licensing and partnership deals on net bookings for fiscal year 2027. There were also questions about the expected performance of Assassin's Creed Black Flag Resynced compared to previous titles and the company's debt repayment strategy.

Main topics on the call

• Transformation Strategy — Ubisoft is undergoing a comprehensive transformation aimed at creating a more focused and agile organization. Yves Guillemot stated, "This year is therefore expected to represent a low point in our free cash flow traject...
• Live Services Performance — Management highlighted strong engagement in live games, particularly with Rainbow Six Siege, which saw a significant increase in player activity. Frédérick Duguet noted, "MAUs were clearly above 10 million in March and u...
• Assassin's Creed Black Flag Resynced — The upcoming release of Assassin's Creed Black Flag Resynced is generating strong pre-order momentum, with Guillemot mentioning, "the reveal generated strong engagement across the Assassin's Creed community." This title ...
• Cost Reduction Initiatives — Ubisoft has successfully reduced its fixed cost base by EUR 118 million year-on-year, reflecting disciplined cost management. Duguet stated, "We have completed the second phase of our cost reduction program one year ahea...

Read the full Ubisoft Entertainment SA transcript (May 20, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 31 Ubisoft Entertainment SA earnings call transcripts on record, spanning February 6, 2020 to July 23, 2026. Based on this history, Ubisoft Entertainment SA reports quarterly. The most recent call on file is dated July 23, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

UBI

Exchange

ENXTPA

Country

FR

Sector

Communication Services

Industry

Entertainment

Calls on record

31

First call

February 6, 2020

Most recent

July 23, 2026

Reporting cadence

quarterly