Ubisoft explains why its earnings report was delayed

Ubisoft's earnings report is out now, but the group explains that its 1HFY26 results were delayed due to an accounting error that triggered non-compliance.

Ubisoft explains why its earnings report was delayed
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Senior Gaming Editor
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TL;DR: Ubisoft delayed its first-half FY26 earnings report due to an accounting error involving misreported revenue from a FY24-25 partnership, identified by auditors. This non-compliance required restating prior-year accounts, stock de-listing, and a fine included in a 286 million Euro debt repayment, impacting financial transparency.

Ubisoft explains that an accounting error led to its 1HFY26 earnings being delayed by a few days.

Ubisoft explains why its earnings report was delayed 233
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A bit ago, Ubisoft made a confusing announcement to delay its half-year earnings report. Speculation ran rampant, with many believing that Ubisoft could have been acquired, perhaps by overseas giants like Saudi Arabia's Savvy Games Group or China's Tencent. Now it's been revealed that the first-half earnings report was pushed back because Ubisoft made a mistake in its books.

In its now-published first-half FY26 results, Ubisoft expands on exactly what happened. Basically, the company made an accounting error on their report, which was spotted by an auditor (an outside accounting firm) and then reported it. As per regulation, Ubisoft had to delay its 1H report and de-list its stock because it was found in non-compliance.

What's interesting is the accounting error was for the year prior in FY24-25, and not the current FY25-26 timeline. This is an important period, though, because the previous year's results set a baseline for comparison for the current results. If last year had lower numbers than this year, then it looks like Ubisoft grew.

Ubisoft mis-reported revenue from a partnership deal, which then had to be re-classified. This triggered non-compliance and adjustments had to be made. Ubisoft will also pay a fine, and that sum is included in a 286 million Euro debt repayment to be made on its outstanding loans.

"Following its auditors' position as part of its review of the H1 financial accounts, the Company has reviewed its analysis relating to the IFRS 15 revenue recognition of a partnership in FY2024-25 that has led it to restate its FY2024-25 accounts as per IAS8.

"Utilization-based payment schedules lead this partnership to be recognized under IFRS15 as revenues over utilization. This position now applied by the Group going forward has also resulted in a partnership signed in Q2 FY2025-26 not being recognized in IFRS15 revenues."