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The Big Game Engine Report of 2026

VGI Video The Big Game Engine Report of 2025 Insights End of the Era of In-House Engines CONHNES Supporting creativity through data State of Game Engines 5-7 Game Engine Market Share Trends 8-12 Deep Dive – Unreal Engine 13-15 Deep Dive – Smaller Public Engines 16-17 Game Engines Popularity by Genre 18-19 Game engines space has been changing rapidly with strong established public engines winning share from historically dominant custom game en...

market-analysis

Video Game InsightsJan 2026

Mobile Game Market Review January 2026

The global mobile gaming market demonstrated significant resilience and strategic shifts during the opening month of 2026, characterized by a stabilization of consumer spending across major app stores. Following a period of post-pandemic correction, the industry has entered a phase of sustainable growth driven primarily by advancements in hybrid-casual monetization and the continued expansion of cross-platform integration. Total monthly revenue across iOS and Google Play reached approximately $7.4 billion, representing a 4.2% year-over-year increase. This growth is largely attributed to the Tier-1 markets in North America and East Asia, though emerging regions in Southeast Asia and Latin America showed the highest percentage gains in unique installations. Genre performance indicates a notable resurgence in mid-core strategy and RPG titles, which benefited from sophisticated live-ops events tied to the lunar new year. Conversely, the hyper-casual segment continues to face headwinds due to evolving privacy regulations and rising user acquisition costs, leading many developers to pivot toward deeper progression systems and integrated social features. Data suggests that average revenue per daily active user has climbed by 6% as publishers successfully leverage personalized in-game offers and battle pass subscriptions. The competitive landscape remains concentrated, with the top ten publishers accounting for nearly 55% of total market revenue, though independent studios are finding success through niche genre innovation. Technological integration played a pivotal role in January’s performance, as more titles incorporated cloud-based features to reduce initial download sizes and improve retention on mid-range devices. The methodology for these findings relies on a comprehensive analysis of store telemetry, proprietary tracking of in-app purchase data, and sentiment analysis from major social platforms. Looking ahead to the first quarter, the industry is expected to maintain this upward trajectory as major intellectual properties prepare for seasonal launches. The shift toward high-fidelity mobile experiences suggests that hardware capabilities are no longer a primary bottleneck for market expansion, allowing for more complex gameplay loops that rival traditional console experiences.

market-analysis global mobile+2

GameRefineryJan 2026

investment market-analysis market-forecast+3

FY2026 2Q Financial Results Briefing Material

Bushiroad Inc. achieved a steady financial performance through the second quarter of fiscal year 2026, reporting net sales of 14,072 million yen for the period and cumulative first-half sales of 27,839 million yen. This 4.6% year-over-year increase reflects a resilient business model that balances traditional entertainment segments with expanding global reach. While the core Trading Card Game segment experienced a minor dip due to a lighter release schedule, the successful launch of the hololive OFFICIAL CARD GAME and a rising overseas sales ratio of 43.5% provided a stable foundation. Growth was further bolstered by high attendance in the Sports segment, particularly for New Japan Pro-Wrestling and STARDOM, alongside a significant foreign exchange gain. The company has already reached 64.6% of its full-year operating profit forecast, supported by the expansion of the PalVerse figure brand and consistent console game releases. Strategic focus remains on the worldwide mobile launch of HUNTER×HUNTER NEN×SURVIVOR in early 2026 and major product updates for flagship titles like Weiβ Schwarz and Cardfight!! Vanguard. Although the third quarter is expected to be a transitional period characterized by higher marketing expenditures and product specification updates, the full-year consolidated forecast remains unchanged. Long-term growth initiatives are centered on international IP utilization and capital efficiency. A strategic alliance with GENDA Inc. aims to accelerate global expansion, while the planned cancellation of 6,000,000 treasury shares in late 2025 underscores a commitment to enhancing shareholder returns. By integrating live events, digital gaming, and physical merchandise across domestic and international markets, the organization is positioning itself to navigate short-term transitional costs while securing a broader global footprint.

BushiroadJan 2026

CESA Game Industry Report 2025

The 2025 CESA Game Industry Report presents a comprehensive assessment of the current state of the video‑game sector, emphasizing three strategic themes: the impact of artificial‑intelligence technologies on development, the latest dynamics of the global market, and emerging regulatory issues. By expanding data coverage to include China, Australia, major Western economies, India and the MENA region, the analysis offers a multidimensional view of both domestic and international trends. Global game‑content revenue reached 31.042 trillion yen in 2024, marking a 5.0 % year‑on‑year increase. Mobile games accounted for 18.433 trillion yen, roughly 60 % of total sales, and grew 6.0 % versus the prior year. PC titles posted the strongest platform growth over the past four years, expanding 59.7 % and overtaking console share, while console revenue showed modest contraction. In Japan, the total gaming population stood at 5.475 million in 2024, a slight decline from 5.553 million; mobile users fell 1.8 %, PC users rose 0.5 %, and console users decreased 0.7 %, with expectations of a rebound following the anticipated Switch 2 launch. Employment estimates indicate approximately 200 000 individuals work across the Japanese gaming ecosystem. Core developers, publishers and hardware manufacturers employ between 58 000 and 83 000 people, while ancillary sectors—such as visual production, middleware, peripherals, retail and media—constitute the remainder of the workforce. The findings derive from CESA’s own surveys, expert interviews and user studies conducted in China and Australia, supplemented by industry‑wide data sources and event reports (Tokyo Game Show, Japan Game Awards, CEDEC). The methodology blends desk research with primary fieldwork to deliver a layered, data‑rich portrait of the industry’s structure, growth drivers and regulatory landscape.

market-analysis ai employment+1

CESA – Computer Entertainment Supplier's AssociationDec 2025

Legal

Information Relative au Nombre Total de Droits de Vote et d’Actions Composant le Capital Social: 2025

Ubisoft Entertainment SA provides a formal disclosure regarding its share capital and voting rights structure as of November 30, 2025. This regulatory filing, issued in compliance with the French Commercial Code and the General Regulations of the Autorité des Marchés Financiers, serves to inform the public and regulatory bodies of the company's current equity composition. The data is specifically relevant for stakeholders monitoring threshold crossings and corporate governance within the Euronext Paris Compartment A market. As of the end of November 2025, the total share capital consists of 134,630,764 individual shares. The disclosure distinguishes between theoretical and exercisable voting rights to provide a comprehensive view of shareholder influence. The total gross, or theoretical, voting rights are recorded at 148,710,417. This figure includes all shares with attached voting rights, even those temporarily deprived of such rights, and serves as the official basis for calculating legal threshold notifications. The net voting rights, which represent the actual votes exercisable at General Meetings, also total 148,710,417 for this period. This indicates that there are currently no treasury shares or other instruments held by the company that would result in a discrepancy between gross and net voting power. By maintaining this transparency, the company adheres to the AMF recommendation of July 17, 2007, ensuring that investors have accurate data regarding the distribution of power and the potential for influence within the organization's capital structure.

UbisoftDec 2025

Presentation

Wyniki Finansowe 3Q25

This financial analysis details the third-quarter 2025 performance of PCF Group S.A. (People Can Fly), a global game development studio. The primary thesis centers on a strategic pivot toward financial stability following a period of reorganization and disappointing performance from self-published titles. The scope covers the group’s global operations, including studios in Warsaw, Montreal, Newcastle, and Dublin, with a specific focus on the nine-month period ending September 30, 2025. The financial data reveals a significant net loss of 117 million PLN for the first nine months of 2025, compared to a 33.3 million PLN loss in the same period of 2024. This deficit is largely driven by substantial non-cash write-offs totaling over 100 million PLN. Key impairments include a 92 million PLN write-down for the project Lost Rift (Victoria) following its Early Access launch on September 25, 2025, which failed to meet sales and player reception expectations. Other write-offs include 6 million PLN for PCF Chicago goodwill and 5 million PLN for Unreal Engine licenses. Despite these losses, revenues increased to 152.1 million PLN from 131.9 million PLN year-over-year, bolstered by work-for-hire (WFH) projects such as Delta, Zulu, and Echo. The group’s methodology emphasizes "adjusted EBITDA" to illustrate underlying operational health, reporting a corrected EBITDA of 6 million PLN for the first nine months of 2025. Following a reorganization that left the workforce at 756 employees, the company is shifting its strategy to prioritize cash flow. Future objectives include securing at least one new WFH contract by the end of 2025, scaling back the Lost Rift team to achieve self-funding by 2026, and halting investment in new self-published projects until the group generates positive cash flow. Current active partnerships include ongoing projects with Microsoft, Krafton, and Sony.

investment market-analysis europe+1

PCF GroupDec 2025

Video Game Market Update: Q4 2025

The fourth quarter of 2025 confirms a continued expansion of the global video‑game market, driven by robust performance across core platforms and a surge in ancillary services. PC sales on Steam rose 20 percent year‑over‑year, while console revenue posted a comparable increase, underscoring sustained consumer demand for both traditional and digital distribution channels. This growth is complemented by a rapid rise in rewarded‑app installations, which have compounded at a 42 percent annual rate from 2021 to 2025 and now support roughly 24 million monthly active users, reflecting the increasing monetisation of interactive micro‑experiences within mobile ecosystems. Investment activity in the early‑stage gaming sector remains tightly concentrated among a small cohort of venture firms. Airoclip led the market in deal volume with ten transactions, whereas Catalyst deployed the greatest capital, allocating $146 million across its portfolio. Other notable participants—Griffin, Arcadia and Laton—maintain a significant but secondary presence, indicating a market where capital is funneled toward a limited set of high‑potential developers and technology providers. Overall, the data portray a video‑game industry that is not only expanding in traditional hardware‑driven segments but also diversifying through mobile reward mechanisms and focused venture investment. The convergence of strong consumer uptake and concentrated financing suggests a trajectory of continued growth, with emerging opportunities concentrated in mobile micro‑transactions and early‑stage innovation pipelines.

market-analysis global pc+1

Aream & Co.Dec 2025

market-analysis market-forecast monetization+1

Video Gaming Report 2026: How Platforms Are Colliding and Why This Will Spark the Next Era of Growth

The global video game industry is currently transitioning from a post-pandemic period of stagnation toward a new era of growth defined by the convergence of hardware-agnostic ecosystems and decentralized distribution. The primary thesis posits that the industry is evolving into a collection of independent, platform-agnostic environments where traditional barriers—such as closed app store models—are being dismantled in favor of direct-to-consumer web stores and alternative distribution channels. This shift is designed to improve developer margins and provide greater control over monetization strategies, including tiered pricing and subscription models, to better serve a price-sensitive global player base. Technological and creative innovation serves as the catalyst for this transformation, with Generative AI accelerating development cycles and the expansion of user-generated content (UGC) fostering deeper intergenerational engagement. Cloud gaming is projected to become a cornerstone of this evolution, with revenues expected to reach $18.3 billion by 2030. These advancements, while promising, necessitate a strategic pivot toward robust content curation and the resolution of complex intellectual property challenges. As games increasingly function as community-driven platforms, stakeholders must prioritize engagement over legacy hardware dependencies to remain competitive. A significant opportunity for expansion lies in the correction of a persistent monetization imbalance. Although gaming commands 12.5% of total media consumption time, it currently captures only 3% of global advertising spend. By integrating sophisticated advertising models alongside AI-driven development and UGC, the industry is positioned to capture this latent value. Ultimately, the future of the sector depends on the successful navigation of market saturation through strategic windowing and the adoption of flexible, multiplatform ecosystems that prioritize community-led discovery and long-term player retention.

Boston Consulting GroupDec 2025

investment market-analysis japan

Consolidated Financial Results for the Nine-Month Period Ending December 31, 2025

Koei Tecmo Holdings Co., Ltd. reports its consolidated financial results for the nine-month period ending December 31, 2025, reflecting a period of slight contraction in sales and profitability compared to the previous year. Net sales reached ¥51,729 million, a 1.6% decrease year-on-year, while operating profit fell 3.3% to ¥14,571 million. Ordinary profit and profit attributable to owners of the parent also saw declines of 6.2% and 5.5% respectively, with the latter totaling ¥23,780 million. Despite these dips in earnings, comprehensive income rose significantly by 52.0% to ¥56,359 million, driven largely by a substantial increase in valuation differences on available-for-sale securities. The company’s financial position strengthened considerably during this period, with total assets increasing from ¥209,828 million at the end of March 2025 to ¥311,492 million by December 31, 2025. This growth was supported by a rise in cash and deposits to ¥51,319 million and a significant expansion in investment securities, which reached ¥127,532 million. Net assets grew to ¥258,716 million, although the equity-to-asset ratio moderated from 89.9% to 82.8%. A notable corporate action during the period included the disposal of over 18 million treasury shares through public and secondary offerings in September 2025, which contributed to the shift in shareholders' equity. Looking ahead to the full fiscal year ending March 31, 2026, the forecast anticipates net sales of ¥92,000 million, representing a 10.6% increase over the previous year. However, profitability is expected to remain under pressure, with projected declines in operating profit (down 3.5%), ordinary profit (down 26.0%), and net profit (down 28.2%). The company maintains a dividend forecast of ¥43.00 per share for the fiscal year-end. These results and projections, prepared under Japanese GAAP, cover the company’s global operations across its various entertainment and investment segments.

Koei TecmoDec 2025

Legal

Video Games Europe’s Response to the European Commission’s Consultation on the Geo‑Blocking Regulation

Video Games Europe submits a policy position urging the European Commission to retain the existing exemption for electronically supplied non‑audiovisual copyright‑protected content within the Geo‑Blocking Regulation. The argument rests on preserving commercial freedom for right‑sholders, safeguarding investment in high‑cost creative production, and avoiding administrative burdens that could undermine the sector’s competitiveness across the EU. Analysis of the Commission’s 2020 short‑term evaluation and subsequent 2024 staff documents indicates that cross‑border demand for video games is modest, with consumer surveys showing low interest in accessing titles from other Member States. Availability gaps are confined mainly to low‑demand or low‑rated games, while the prevailing licensing model is already largely non‑territorial and non‑exclusive. Modelling suggests that extending nondiscrimination rules could depress developer and publisher revenues, as any increase in consumption would likely be offset by price reductions, and could complicate national transparency requirements such as age‑rating systems. The scope of the assessment covers the entire European Union, drawing on industry‑wide data that 54 % of the European population engages in gaming, a sector employing over 116 000 people and generating €26.8 billion in revenue. The position paper references the Commission’s own evidence base rather than conducting an independent survey, relying on publicly available evaluation reports and the association’s annual Key Facts statistics. By maintaining the current exemption, the industry aims to ensure that creators retain control over digital distribution, thereby supporting continued investment in quality content and reinforcing Europe’s standing in the global video‑games market.

regulation europe market-analysis

Video Games EuropeDec 2025

Cross-Platform Gaming: Bridging Mobile and PC/Console 2025

The global gaming landscape in 2025 is defined by a strategic synergy between the accessibility of mobile platforms and the immersive depth of PC and console ecosystems. Mobile serves as the primary engine for discovery and user acquisition, generating over 52 billion annual downloads and $82 billion in in-app purchase revenue. Meanwhile, PC and console platforms, led by storefronts like Steam, anchor brand loyalty and drive high-value engagement through seasonal peaks and premium content. By leveraging mobile’s massive reach to feed into high-fidelity ecosystems, publishers maximize total franchise growth and ensure long-term revenue stability. Publishers are increasingly bridging these distinct markets through four primary models: companion apps, "lite" versions for mass-market discovery, adapted experiences, and full cross-platform progression. Success stories such as the EA SPORTS FC companion app, which reached 78 million downloads, demonstrate how mobile accessibility sustains franchise loyalty. Furthermore, titles like PUBG Mobile and Delta Force illustrate that mobile engagement frequently drives corresponding spikes in PC player activity. This interconnectedness is particularly effective for RPGs and Shooters, which utilize unified ecosystems and shared progression to significantly increase player lifetime value and retention. Ultimately, a successful cross-platform strategy balances high-volume mobile genres, such as Simulation and Puzzle, with the prestige and monetization intensity of blockbuster PC and console releases. Adapting complex intellectual properties into accessible mobile formats allows franchises to capitalize on broader cultural trends, as seen with the resurgence of the Fallout brand. By treating mobile as a discovery engine and PC/console as the anchor for brand identity, publishers can effectively navigate the global market to capture both broad audiences and high-spending core players.

market-analysis cross-platform global+1

Sensor TowerDec 2025

market-analysis investment sweden

Year-End Report: October – December 2025

Stillfront Group’s performance throughout 2025 reflects a strategic pivot toward profitability and operational efficiency over aggressive revenue growth. Total net revenue for the year reached SEK 5,710 million, representing a 15.3% year-over-year decline and a 10.2% organic contraction. This downturn was most pronounced in the fourth quarter, where North American revenue plummeted by 31% as the company intentionally reduced marketing spend and divested the Narrative franchise. Despite these top-line pressures, the adjusted EBITDAC margin expanded to 27%, bolstered by a significant shift toward direct-to-consumer bookings, which now represent 45% of the total. The financial landscape was heavily influenced by non-cash impairments totaling SEK 2,258 million in the final quarter, primarily targeting goodwill and intangible assets. These charges contributed to a full-year net loss of SEK 2,398 million, though this marked a substantial improvement over the previous year’s losses. Total assets decreased to SEK 11,024 million by year-end, reflecting a leaner balance sheet. Geographically, performance remained bifurcated; while North America and Europe struggled with organic declines, the MENA & APAC region demonstrated resilience with 6.6% organic growth driven by core franchises such as Jawaker. Operational stability remains a priority as the company transitions to a consolidated reporting structure for 2026. With a monthly active user base of approximately 35 million, the focus has shifted toward sustaining "Key Franchises" that generate over SEK 200 million in annual bookings. Financial health is supported by a free cash flow of SEK 290 million in the fourth quarter, which facilitated debt reduction. The year concluded with a net debt of SEK 3,747 million and an adjusted leverage ratio of 2.02x, positioning the group just above its long-term financial target of 2.0x.

StillfrontDec 2025

mergers-acquisitions market-analysis france+1

Mobile Game Market Review December 2025

The global mobile gaming market concluded 2025 with a period of stabilization, characterized by a shift toward high-fidelity experiences and sophisticated monetization strategies. While year-over-year revenue growth remained modest at approximately four percent, the industry saw a significant increase in average revenue per user across Tier 1 markets, particularly in North America and East Asia. This trend suggests that while the total player base is reaching a point of saturation in developed regions, existing users are demonstrating a higher propensity for long-term financial commitment to established live-service titles. Hybrid-casual games emerged as the dominant growth segment throughout the final quarter of the year, successfully bridging the gap between simple mechanics and deep meta-progression systems. These titles leveraged a balanced mix of in-app advertising and microtransactions, effectively insulating developers against the rising costs of user acquisition. Conversely, the traditional hyper-casual sector continued to face headwinds due to evolving privacy regulations and increased competition for digital ad inventory, leading many studios to pivot toward more complex gameplay loops to ensure sustainable retention rates. Technological advancements in mobile hardware and the expansion of 5G infrastructure facilitated a surge in cross-platform play, with mobile versions of major console and PC franchises capturing a larger share of the market. Data indicates that titles offering seamless progression across devices saw twenty percent higher engagement levels than mobile-only counterparts. As the industry moves into 2026, the focus remains on leveraging generative artificial intelligence for personalized content delivery and optimizing live operations to combat player churn in an increasingly crowded marketplace.

market-analysis global mobile+1

GameRefineryDec 2025

Other

Ubisoft Accelerates in Fast Growing MOBA Market by Acquiring 'March of Giants' Game from Amazon

Ubisoft has strategically expanded its presence in the competitive multiplayer landscape by acquiring the rights to March of Giants from Amazon. This acquisition includes the integration of the Montreal-based development team into Ubisoft’s creative structure. The move is designed to capitalize on the high-growth multiplayer online battle arena (MOBA) market, which is projected to see total revenues roughly double by 2030. By bringing this project in-house, Ubisoft aims to establish a long-term, live-service competitive title that differentiates itself through a blend of lane-based combat and hero coordination. The project is led by industry veterans Xavier Marquis and Alexandre Parizeau, both of whom previously held senior leadership roles at Ubisoft on major franchises like Rainbow Six Siege. Their return signals a focus on leveraging proven expertise in tactical depth and community-driven competitive gaming. Early indicators of the game’s potential are strong, with internal data showing that 98% of closed alpha participants believe the title introduces innovative elements to the genre. Players have specifically highlighted the game’s art direction and focus on team-based strategy as key differentiators. The transition includes a continued partnership with Amazon, which will provide marketing support via Twitch to bolster the game’s visibility. While the financial terms of the deal remain undisclosed, the acquisition is positioned as a primary driver for Ubisoft’s growth in a segment that currently engages hundreds of millions of active players globally. Development is now focused on a major update scheduled for 2026, which will expand the game’s competitive modes and foundational systems to ensure sustainable long-term engagement.

UbisoftDec 2025

Rapport Financier Semestriel: Septembre 2025

Ubisoft’s financial performance for the first half of the 2025-26 fiscal year reflects a period of significant structural transition and fiscal volatility. While net bookings grew by 20.3% to €772.4 million, fueled by the enduring performance of the Assassin's Creed and Rainbow Six Siege franchises, the company recorded an IFRS operating loss of €120.2 million and a consolidated net loss of €161.4 million. Digital revenue continues to dominate the business model, accounting for nearly 89% of total bookings, even as physical sales experienced a sharp 43.3% decline. The organization is currently navigating a complex liquidity environment characterized by a net financial debt of €1.42 billion and non-compliance with certain bank covenants. This breach has resulted in the loss of a €300 million syndicated credit line and the reclassification of specific loans as current liabilities. To stabilize its balance sheet, the group is relying on a strategic €1.16 billion cash injection from Tencent and the divestment of a minority stake in Vantage Studios. These maneuvers are intended to facilitate debt repayment and move the company toward a zero net debt position. Operational efficiency remains a primary focus, evidenced by a reduction in headcount from over 18,000 to approximately 17,000 employees and a €101.2 million decrease in research and development expenses. Despite these cost-cutting measures, the company faces ongoing legal and regulatory challenges, including contested tax audits across multiple jurisdictions and a significant €113.9 million retrospective revenue correction to comply with IFRS 15 standards. Moving forward, the group aims for a break-even non-IFRS operating result, supported by a leaner operational model and continued investment in internal software development.

UbisoftNov 2025

Ubisoft Reports First-Half 2025-26 Earnings Figures

Ubisoft’s financial performance for the first half of fiscal year 2025-26 reflects a period of aggressive strategic transformation and operational restructuring. Net bookings reached €772.4 million, representing a 20.3% year-over-year increase fueled by a resilient back-catalog and strategic partnerships. While the company reported a consolidated net loss of €161.4 million, this figure marks a notable improvement from the €246.5 million loss recorded in the prior year. Furthermore, non-IFRS operating income returned to positive territory at €27.1 million, signaling that cost-efficiency measures are beginning to stabilize the bottom line. The organization is currently executing a comprehensive cost-reduction program aimed at achieving €100 million in savings by fiscal year 2026-27. This initiative has already resulted in a 9% reduction in the fixed cost base and a headcount decrease of approximately 1,500 employees over the past twelve months. To address a net debt position of €1.42 billion and technical breaches of leverage covenants, the company is securing a €1.16 billion investment from Tencent through the newly formed Vantage Studios subsidiary. This capital injection is intended to deleverage the group and facilitate the repayment of roughly €286 million in debt, providing the liquidity necessary to support ongoing internal and external game development. Looking ahead, the company is transitioning to a new "Creative Houses" operating model to streamline production across its global studios. The upcoming release schedule remains a critical driver for future growth, with major titles such as Anno 117: Pax Romana and Assassin’s Creed Shadows slated for the third quarter. These launches, combined with sustained live-service updates for core franchises like Rainbow Six Siege, are expected to bolster revenue as the group works toward long-term financial stabilization and a more efficient development pipeline.

UbisoftNov 2025

Rapport Financier Semestriel au 30 Septembre 2025

Ubisoft Entertainment SA confirms the formal publication and filing of its semi-annual financial report for the period ending September 30, 2025. This regulatory disclosure, submitted to the Autorité des marchés financiers, serves as a primary update on the company’s fiscal health and operational standing midway through the 2025-2026 fiscal year. The announcement emphasizes the company's ongoing commitment to transparency for its global investor base and stakeholders within the interactive entertainment sector. The financial data highlights a net turnover of 1.85 billion euros for the preceding 2024-2025 fiscal year, establishing a baseline for current performance evaluations. Operations remain focused on a diversified portfolio of established intellectual properties, including major franchises such as Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six. The strategic scope encompasses multiple distribution channels, including traditional PC and console platforms, alongside an expanding presence in cloud gaming and subscription-based services via the Ubisoft+ model. The organizational structure relies on a global network of development teams to maintain a competitive edge in the high-budget gaming market. Central to the current business strategy is the Ubisoft Connect ecosystem, which aims to drive player engagement and retention through cross-platform services and loyalty rewards. This integrated approach to software and services is designed to stabilize revenue streams across various geographic regions and industry segments as the company navigates the remainder of the fiscal year.

UbisoftNov 2025

Quarterly Report of 11 Bit Studios S.A. for the Nine Months Ended 30 September 2025

Financial performance for 11 bit studios S.A. through the first nine months of 2025 reflects a period of significant operational transition and heavy product launches. Total revenue reached PLN 101.3 million, a 5% year-over-year decrease from 2024. Net profit experienced a more pronounced decline, falling from PLN 47.5 million to PLN 22.0 million. This contraction was primarily driven by a fivefold increase in depreciation and amortization expenses following the release of major titles, as well as rising finance costs linked to exchange rate fluctuations. Despite these pressures, the company maintained a robust cash position of PLN 71.2 million and grew its total assets to PLN 282.0 million. The United States remains the primary market, accounting for over 81% of sales, with Valve’s Steam platform serving as the dominant distribution channel. Revenue was largely anchored by the successful launch of The Alters, which sold 405,000 copies, and the continued performance of Frostpunk 2 across consoles and subscription services. However, the company adjusted its long-term outlook by reducing the estimated cost of its 2021–2025 Incentive Scheme to zero, signaling that original five-year revenue and profit targets are unlikely to be met. This shift follows the termination of Project 8 and the rescheduling of several key releases. Strategic focus remains on multiplatform game production and the expansion of the publishing pipeline. Significant capital is currently tied up in intangible assets and ongoing development, including the transition of Frostpunk 1886 to Unreal Engine 5. Looking toward the final quarter of 2025, the company anticipates revenue growth driven by the Early Access launch of Moonlighter 2, the release of Death Howl, and major DLC for Frostpunk 2. While the global console market offers expansion opportunities, the company continues to manage risks associated with a strengthening Polish złoty against the US dollar.

investment market-analysis europe+1

11 bit studiosNov 2025

Information Relating to the Release of First-Half 2025-26 Figures

Ubisoft Entertainment has scheduled the release of its financial earnings for the first half of the 2025-26 fiscal year to occur no later than the opening of trading on Friday, November 21, 2025. This announcement serves as a formal update to the financial markets regarding the timing of key performance data for the initial six months of the company's fiscal cycle. The communication originates from the company’s Paris headquarters and provides specific administrative details regarding the availability of these figures to investors and the public. In conjunction with the earnings release, the company will resume the listing of several key financial instruments. This includes Ubisoft’s primary shares as well as multiple debt instruments, specifically bonds maturing in 2027 and convertible or exchangeable bonds maturing in 2028 and 2031. The resumption of trading for these securities is synchronized with the disclosure of the half-year results to ensure market transparency and provide all participants with equal access to the latest fiscal performance metrics before active trading commences. The scope of this update is strictly focused on the corporate financial reporting schedule and the status of Ubisoft’s publicly traded securities on European exchanges. While the announcement does not detail specific revenue figures or operational milestones, it establishes the definitive timeline for the dissemination of such data. Corporate leadership in investor relations and communications remains the primary point of contact for stakeholders seeking further clarification on the upcoming financial disclosures.