Take-Two Interactive Software, Inc. Reports Results for Fiscal Third Quarter 2025
Take-Two Interactive reported fiscal Q3 2025 results with Net Bookings of $1.37 billion, within guidance range, driven by NBA 2K's strong performance offsetting mobile franchise moderation. The company maintained its fiscal 2025 Net Bookings guidance of $5.55 to $5.65 billion.
Key financial highlights include a 3% growth in Total Net Bookings compared to last year, with recurrent consumer spending up 9%, representing 79% of total Net Bookings. However, the company reported a GAAP net loss of $125.2 million, or $0.71 per share.
Looking ahead, Take-Two plans major game launches in 2024, including Sid Meier's Civilization VII (February), Mafia: The Old Country (Summer), Grand Theft Auto VI (Fall), and Borderlands 4. The company expects record Net Bookings levels in Fiscal 2026 and 2027.
Take-Two Interactive ha riportato i risultati del terzo trimestre fiscale 2025 con Net Bookings di 1,37 miliardi di dollari, all'interno dell'intervallo di guida, sostenuti dalle ottime prestazioni di NBA 2K che hanno compensato la moderazione dei franchise mobile. L'azienda ha mantenuto la guida per il 2025 sui Net Bookings a 5,55 - 5,65 miliardi di dollari.
I principali punti finanziari includono una crescita del 3% nei Net Bookings Totali rispetto all'anno scorso, con una spesa dei consumatori ricorrente in aumento del 9%, che rappresenta il 79% del totale dei Net Bookings. Tuttavia, l'azienda ha riportato una perdita netta GAAP di 125,2 milioni di dollari, ovvero 0,71 dollari per azione.
Guardando al futuro, Take-Two prevede importanti lanci di giochi nel 2024, tra cui Sid Meier's Civilization VII (febbraio), Mafia: The Old Country (estate), Grand Theft Auto VI (autunno) e Borderlands 4. L'azienda si aspetta livelli record di Net Bookings nei fiscali 2026 e 2027.
Take-Two Interactive reportó los resultados del tercer trimestre fiscal 2025 con Net Bookings de 1.37 mil millones de dólares, dentro del rango guiado, impulsados por el sólido rendimiento de NBA 2K que compensó la moderación en las franquicias móviles. La compañía mantuvo su guía para los Net Bookings del fiscal 2025 en 5.55 a 5.65 mil millones de dólares.
Los puntos financieros clave incluyen un crecimiento del 3% en los Net Bookings Totales en comparación con el año pasado, con un aumento del 9% en el gasto recurrente de los consumidores, que representa el 79% del total de los Net Bookings. Sin embargo, la compañía reportó una pérdida neta GAAP de 125.2 millones de dólares, o 0.71 dólares por acción.
De cara al futuro, Take-Two planea lanzamientos importantes de juegos en 2024, incluyendo Sid Meier's Civilization VII (febrero), Mafia: The Old Country (verano), Grand Theft Auto VI (otoño) y Borderlands 4. La compañía espera niveles récord de Net Bookings en los fiscales 2026 y 2027.
테이크 투 인터랙티브는 2025 회계연도 3분기 실적을 보고하며 순 매출 13.7억 달러를 기록했다고 발표했습니다. 이는 안내 범위 내에 있으며, NBA 2K의 강력한 성과가 모바일 프랜차이즈의 조정을 상쇄했습니다. 회사는 2025 회계연도의 순 매출 전망을 55.5억에서 56.5억 달러로 유지했습니다.
주요 재무 하이라이트에는 작년에 비해 총 순 매출 3% 성장이 포함됩니다. 재구매 소비자는 9% 증가하여 총 순 매출의 79%를 차지했습니다. 그러나 회사는 GAAP 기준으로 1억 2,520만 달러의 순 손실, 즉 주당 0.71 달러를 보고했습니다.
앞으로 Take-Two는 2024년에 Sid Meier's Civilization VII (2월), Mafia: The Old Country (여름), Grand Theft Auto VI (가을), Borderlands 4 등의 주요 게임 출시 계획을 세우고 있습니다. 회사는 2026 및 2027 회계연도에 기록적인 순 매출 수준을 기대하고 있습니다.
Take-Two Interactive a rapporté les résultats du troisième trimestre fiscal 2025 avec des Net Bookings de 1,37 milliard de dollars, dans la fourchette des prévisions, soutenus par les solides performances de NBA 2K qui compensent la modération des franchises mobiles. L'entreprise a maintenu ses prévisions de Net Bookings pour l'exercice 2025 à 5,55 à 5,65 milliards de dollars.
Parmi les points financiers clés, on note une croissance de 3 % des Net Bookings Totaux par rapport à l'année dernière, avec une augmentation de 9 % des dépenses des consommateurs récurrents, représentant 79 % du total des Net Bookings. Cependant, l'entreprise a rapporté une perte nette GAAP de 125,2 millions de dollars, soit 0,71 dollar par action.
En regardant vers l'avenir, Take-Two prévoit de grands lancements de jeux en 2024, y compris Sid Meier's Civilization VII (février), Mafia: The Old Country (été), Grand Theft Auto VI (automne) et Borderlands 4. L'entreprise s'attend à des niveaux records de Net Bookings pour les exercices 2026 et 2027.
Take-Two Interactive hat die Ergebnisse des dritten Quartals 2025 gemeldet, mit Net Bookings von 1,37 Milliarden US-Dollar, innerhalb der erwarteten Spanne, angetrieben durch die starke Leistung von NBA 2K, die eine Moderation des mobilen Franchise ausglich. Das Unternehmen bestätigte die Prognose für die Net Bookings im Geschäftsjahr 2025 von 5,55 bis 5,65 Milliarden US-Dollar.
Zu den wichtigsten Finanzkennzahlen gehört ein Wachstum von 3 % bei den Gesamt-Net Bookings im Vergleich zum Vorjahr, wobei die wiederkehrenden Verbraucherausgaben um 9 % gestiegen sind, was 79 % der Gesamt-Net Bookings ausmacht. Das Unternehmen berichtete jedoch von einem GAAP-Nettoverlust von 125,2 Millionen US-Dollar, oder 0,71 US-Dollar pro Aktie.
Für die Zukunft plant Take-Two wichtige Spielveröffentlichungen im Jahr 2024, darunter Sid Meier's Civilization VII (Februar), Mafia: The Old Country (Sommer), Grand Theft Auto VI (Herbst) und Borderlands 4. Das Unternehmen erwartet Rekordlevels bei den Net Bookings in den Geschäftsjahren 2026 und 2027.
- Net Bookings grew 3% YoY to $1.37 billion
- Recurrent consumer spending increased 9%, accounting for 79% of total Net Bookings
- Strong performance from NBA 2K25
- Four major game launches planned for 2024
- Company maintains full-year Net Bookings guidance
- GAAP net loss increased to $125.2 million ($0.71 per share) from $91.6 million ($0.54 per share) last year
- Moderation in mobile franchises performance
- Negative operating cash flow outlook of approximately $200 million for FY2025
Insights
Take-Two's Q3 results present a complex picture that warrants careful analysis. While Net Bookings met guidance at
The upcoming release slate represents a potential inflection point, with Grand Theft Auto VI, Civilization VII, Mafia: The Old Country and Borderlands 4 all scheduled for calendar year 2025. This unprecedented lineup could reshape Take-Two's financial trajectory, particularly given GTA VI's potential to generate substantial recurring revenue through its online component.
The
The shift in operating expenses to Q4 requires monitoring, as it could impact profitability metrics in the coming quarter. The company's maintained guidance suggests confidence in its execution capability, but the increased net loss highlights the need for careful cost management as Take-Two prepares for its ambitious release schedule.
Company updates fiscal year 2025 outlook and reiterates expectation for Net Bookings of
Management Comments
“We achieved solid results during the holiday season. Our Net Bookings of
“For Fiscal 2025, we are reiterating our Net Bookings guidance range of
“Looking ahead, this calendar year is shaping up to be one of the strongest ever for Take-Two, as we plan to launch Sid Meier’s Civilization VII on February 11th, Mafia: The Old Country in the Summer, Grand Theft Auto VI in the Fall, and Borderlands 4. We continue to invest prudently in our development pipeline and remain confident in Zynga’s potential to create new mobile forever franchises as demonstrated by their ongoing success with Match Factory. As we continue to deliver hits, we remain highly confident that we will achieve sequential increases in, and record levels of, Net Bookings in Fiscal 2026 and 2027.”
Third Quarter Fiscal 2025 Financial and Operational Highlights
-
Total Net Bookings* grew
3% to$1.37 billion $1.34 billion -
Net Bookings from recurrent consumer spending** grew
9% and accounted for79% of total Net Bookings. -
The largest contributors to Net Bookings were NBA® 2K25, Grand Theft Auto® Online and Grand Theft Auto V, Toon Blast™, Match Factory!™, our hyper-casual mobile portfolio, Empires & Puzzles™, Red Dead Redemption® 2 and Red Dead Online, Words With Friends™, and Toy Blast™.
-
Net Bookings from recurrent consumer spending** grew
-
GAAP net revenue was
$1.36 billion $1.37 billion -
Recurrent consumer spending** increased
5% and accounted for80% of total GAAP net revenue. -
The largest contributors to GAAP net revenue were NBA 2K25 and NBA 2K24, Grand Theft Auto Online and Grand Theft Auto V, Toon Blast, Empires & Puzzles, Match Factory!, our hyper-casual mobile portfolio, Red Dead Redemption 2 and Red Dead Online, Words With Friends, and Toy Blast.
-
Recurrent consumer spending** increased
-
GAAP net loss was
$125.2 million $0.71 $91.6 million $0.54
* Net Bookings is our operational metric and defined as the net amount of products and services sold digitally or sold-in physically during the period, and includes licensing fees, merchandise, in-game advertising, strategy guides and publisher incentives.
** Recurrent consumer spending is generated from ongoing consumer engagement and includes virtual currency, add-on content, in-game purchases and in-game advertising.
Third Quarter Fiscal 2025 Financial Results
The following data is used internally by the Company’s management and Board of Directors to adjust the Company’s GAAP and Non-GAAP financial results in order to facilitate comparison of its operating performance between periods and to better understand its core business:
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Three Months Ended December 31, 2024 |
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Financial Data |
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in millions |
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Statement of Operations |
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Change in deferred net revenue and related cost of revenue |
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Stock-based compensation |
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Amortization of acquired intangibles |
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Business reorganization |
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Business acquisition |
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Other (a) |
GAAP |
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Total net revenue |
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13.7 |
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Cost of revenue |
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599.9 |
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1.1 |
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(2.6) |
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(171.9) |
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Gross profit |
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759.9 |
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12.5 |
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2.6 |
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171.9 |
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Operating expenses |
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892.0 |
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(80.3) |
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(17.4) |
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(23.1) |
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6.8 |
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(Loss) income from operations |
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(132.1) |
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12.5 |
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82.9 |
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189.2 |
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23.1 |
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(6.8) |
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Interest and other, net |
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(21.0) |
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2.8 |
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2.2 |
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4.3 |
(Loss) gain on fair value adjustments, net |
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0.2 |
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0.7 |
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(0.9) |
(Loss) income before income taxes |
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(152.9) |
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15.4 |
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82.9 |
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189.2 |
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23.1 |
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(3.8) |
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3.4 |
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Non-GAAP |
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EBITDA |
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88.8 |
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12.5 |
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82.9 |
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23.1 |
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(3.2) |
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3.4 |
Note: For management reporting purposes, the table above assumes a management tax rate of
(a) Other includes adjustments for (i) the revaluation of the Turkish Lira against the
Outlook for Fiscal Year 2025
Take-Two is revising its outlook for the fiscal year and providing its initial outlook for its fiscal fourth quarter ending March 31, 2025:
Fiscal Year Ending March 31, 2025
The Company is also providing selected data, which is used internally by its management and Board of Directors to adjust the Company’s GAAP and Non-GAAP financial outlook in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook:
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Fiscal Year Ending March 31, 2025 |
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Financial Data |
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$ in millions except for per share amounts |
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Outlook (1) |
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Change in deferred net revenue and related cost of revenue |
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Stock-based compensation |
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Amortization of acquired intangibles |
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Business reorganization and other (a) |
GAAP |
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Total net revenue |
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Cost of revenue |
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Operating expenses |
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Interest and other, net |
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(Loss) income before income taxes |
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Net loss |
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Net loss per share |
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Net cash provided by operating activities |
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approximately |
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Capital expenditures |
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approximately |
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Non-GAAP |
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EBITDA |
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Adjusted Unrestricted Operating Cash Flow |
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approximately |
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Operational metric |
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Net Bookings |
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-
Management reporting tax rate anticipated to be
18% - Share count used to calculate GAAP net loss per share is expected to be 175.0 million
- Share count used to calculate management reporting diluted net income per share is expected to be 177.5 million
(a) Other includes adjustments for (i) business acquisition expenses, (ii) the revaluation of the Turkish Lira against the
Fiscal Fourth Quarter Ending March 31, 2025
The Company is also providing selected data, which is used internally by its management and Board of Directors to adjust the Company’s GAAP and Non-GAAP financial outlook in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook:
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Three Months Ending March 31, 2025 |
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Financial Data |
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$ in millions except for per share amounts |
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Outlook (1) |
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Change in deferred net revenue and related cost of revenue |
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Stock-based compensation |
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Amortization of acquired intangibles |
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Business acquisition |
GAAP |
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Total net revenue |
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Cost of revenue |
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Operating expenses |
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Interest and other, net |
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(Loss) income before income taxes |
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Net (loss) income |
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Net (loss) income per share |
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Non-GAAP |
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EBITDA |
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Operational metric |
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Net Bookings |
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-
Management reporting tax rate anticipated to be
18% - Share count used to calculate GAAP net loss per share is expected to be 177.5 million
- Share count used to calculate GAAP and management reporting diluted net income per share is expected to be 179.1 million
1) |
The individual components of the financial outlook may not foot to the totals, as the Company does not expect actual results for every component to be at the low end or high end of the outlook range simultaneously. |
Key assumptions and dependencies underlying the Company’s outlook include: a continuation of the current economic backdrop; the timely delivery of the titles included in this financial outlook; continued growth in the installed base of PlayStation 5 and Xbox Series X|S, as well as engagement on Xbox One and PlayStation 4; the ability to develop and publish products that capture market share for these current generation systems while also leveraging opportunities on PC, mobile and other platforms; factors affecting our performance on mobile, such as player acquisition costs; our ongoing focus on our live services portfolio and new game pipeline; and stable foreign exchange rates. See also “Cautionary Note Regarding Forward Looking Statements” below.
Product Releases
The following have been released since October 1, 2024:
Label |
Product |
Platforms |
Release Date |
2K |
NBA 2K25 Arcade Edition |
Apple Arcade |
October 3, 2024 |
Rockstar Games |
Red Dead Redemption and Undead Nightmare |
PC |
October 29, 2024 |
Rockstar Games |
Grand Theft Auto Online: Agents of Sabotage |
PS5, PS4, Xbox Series X|S, Xbox One, PC |
December 10, 2024 |
Take-Two's future lineup announced to-date includes:
Label |
Product |
Platforms |
Release Date |
2K |
Sid Meier's Civilization VII |
PS5, PS4, Xbox Series X|S, Xbox One, PC, Switch |
February 11, 2025 |
2K |
PGA TOUR 2K25 |
PS5, Xbox Series X|S, PC |
February 28, 2025 |
2K |
WWE 2K25 |
PS5, PS4, Xbox Series X|S, Xbox One, PC |
March 14, 2025 |
2K |
Mafia: The Old Country |
PS5, Xbox Series X|S, PC |
Summer of calendar 2025 |
Rockstar Games |
Grand Theft Auto VI |
PS5, Xbox Series X|S |
Fall of calendar 2025 |
2K |
Borderlands 4 |
PS5, Xbox Series X|S, PC |
Calendar 2025 |
Zynga |
CSR 3 |
iOS, Android |
TBA |
Ghost Story Games |
Judas |
PS5, Xbox Series X|S, PC |
TBA |
2K |
Project ETHOS |
TBA |
TBA |
Conference Call
Take-Two will host a conference call today at 4:30 p.m. Eastern Time to review these results and discuss other topics. The call can be accessed by dialing (800) 715-9871 or (646) 307-1963 (conference ID: 1162777). A live listen-only webcast of the call will be available by visiting http://ir.take2games.com and a replay will be available following the call at the same location.
Non-GAAP Financial Measures
In addition to reporting financial results in accordance with
The Company’s management believes it is important to consider Adjusted Unrestricted Operating Cash Flow, in addition to net cash from operating activities, as it provides more transparency into current business trends without regard to the timing of payments from restricted cash, which is primarily related to a dedicated account limited to the payment of certain internal royalty obligations.
The Company’s management believes it is important to consider EBITDA, in addition to net income, as it removes the effect of certain non-cash expenses, debt-related charges, and income taxes. Management believes that, when considered together with reported amounts, EBITDA is useful to investors and management in understanding the Company’s ongoing operations and in analysis of ongoing operating trends and provides useful additional information relating to the Company’s operations and financial condition.
These Non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or superior to, GAAP results. These Non-GAAP financial measures may be different from similarly titled measures used by other companies. In the future, Take-Two may also consider whether other items should also be excluded in calculating these Non-GAAP financial measures used by the Company. Management believes that the presentation of these Non-GAAP financial measures provides investors with additional useful information to measure Take-Two's financial and operating performance. In particular, these measures facilitate comparison of our operating performance between periods and may help investors to understand better the operating results of Take-Two. Internally, management uses these Non-GAAP financial measures in assessing the Company's operating results and in planning and forecasting. A reconciliation of these Non-GAAP financial measures to the most comparable GAAP measure is contained in the financial tables to this press release.
Final Results
The financial results discussed herein are presented on a preliminary basis; final data will be included in Take-Two’s Quarterly Report on Form 10-Q for the period ended December 31, 2024.
About Take-Two Interactive Software
Headquartered in
All trademarks and copyrights contained herein are the property of their respective holders.
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein, which are not historical facts, including statements relating to Take-Two Interactive Software, Inc.'s ("Take-Two," the "Company," "we," "us," or similar pronouns) outlook, are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "should," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for our future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties including risks relating to our combination with Zynga Inc.; the risks of conducting business internationally, including as a result of unforeseen geopolitical events; the impact of changes in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; factors affecting our mobile business, such as player acquisition costs; the timely release and significant market acceptance of our games; and the ability to maintain acceptable pricing levels on our games.
Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company’s most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed at www.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
TAKE-TWO INTERACTIVE SOFTWARE, INC. |
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
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(in millions, except per share amounts) |
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Three Months Ended December 31, |
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Nine Months Ended December 31, |
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2024 |
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2023 |
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2024 |
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2023 |
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Net revenue: |
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Game |
|
$ |
1,243.1 |
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|
$ |
1,208.2 |
|
|
$ |
3,693.7 |
|
|
$ |
3,432.9 |
|
Advertising |
|
|
116.7 |
|
|
|
158.1 |
|
|
|
357.4 |
|
|
|
517.3 |
|
Total net revenue |
|
|
1,359.8 |
|
|
|
1,366.3 |
|
|
|
4,051.1 |
|
|
|
3,950.2 |
|
Cost of revenue: |
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Product costs |
|
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200.2 |
|
|
|
191.3 |
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|
|
616.0 |
|
|
|
545.9 |
|
Game intangibles |
|
|
171.1 |
|
|
|
230.1 |
|
|
|
508.0 |
|
|
|
826.4 |
|
Internal royalties |
|
|
103.1 |
|
|
|
134.1 |
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|
249.3 |
|
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|
319.5 |
|
Licenses |
|
|
88.8 |
|
|
|
73.0 |
|
|
|
241.1 |
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|
227.2 |
|
Software development costs and royalties |
|
|
36.7 |
|
|
|
59.7 |
|
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|
177.8 |
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|
258.5 |
|
Total cost of revenue |
|
|
599.9 |
|
|
|
688.2 |
|
|
|
1,792.2 |
|
|
|
2,177.5 |
|
Gross profit |
|
|
759.9 |
|
|
|
678.1 |
|
|
|
2,258.9 |
|
|
|
1,772.7 |
|
Selling and marketing |
|
|
388.9 |
|
|
|
367.3 |
|
|
|
1,281.6 |
|
|
|
1,101.3 |
|
Research and development |
|
|
240.9 |
|
|
|
232.0 |
|
|
|
707.4 |
|
|
|
702.7 |
|
General and administrative |
|
|
189.6 |
|
|
|
165.0 |
|
|
|
653.1 |
|
|
|
541.2 |
|
Depreciation and amortization |
|
|
49.5 |
|
|
|
42.6 |
|
|
|
141.6 |
|
|
|
128.3 |
|
Goodwill impairment |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
165.4 |
|
Business reorganization |
|
|
23.1 |
|
|
|
0.7 |
|
|
|
89.4 |
|
|
|
11.3 |
|
Total operating expenses |
|
|
892.0 |
|
|
|
807.6 |
|
|
|
2,873.1 |
|
|
|
2,650.2 |
|
Loss from operations |
|
|
(132.1 |
) |
|
|
(129.5 |
) |
|
|
(614.2 |
) |
|
|
(877.5 |
) |
Interest and other, net |
|
|
(21.0 |
) |
|
|
(22.5 |
) |
|
|
(71.1 |
) |
|
|
(79.0 |
) |
Gain (loss) on fair value adjustments, net |
|
|
0.2 |
|
|
|
(0.3 |
) |
|
|
(4.1 |
) |
|
|
(1.7 |
) |
Loss before income taxes |
|
|
(152.9 |
) |
|
|
(152.3 |
) |
|
|
(689.4 |
) |
|
|
(958.2 |
) |
(Benefit from) provision for income taxes |
|
|
(27.7 |
) |
|
|
(60.7 |
) |
|
|
63.3 |
|
|
|
(117.0 |
) |
Net loss |
|
$ |
(125.2 |
) |
|
$ |
(91.6 |
) |
|
$ |
(752.7 |
) |
|
$ |
(841.2 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Loss per share: |
|
|
|
|
|
|
|
|
||||||||
Basic and diluted loss per share |
|
$ |
(0.71 |
) |
|
$ |
(0.54 |
) |
|
$ |
(4.31 |
) |
|
$ |
(4.95 |
) |
Weighted average shares outstanding |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
176.0 |
|
|
|
170.3 |
|
|
|
174.5 |
|
|
|
169.9 |
|
TAKE-TWO INTERACTIVE SOFTWARE, INC. |
||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
(in millions, except per share amounts) |
||||||||
|
|
December 31, 2024 |
|
March 31, 2024 |
||||
|
|
(Unaudited) |
|
|
||||
ASSETS |
|
|
|
|
||||
Current assets: |
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
1,206.8 |
|
|
$ |
754.0 |
|
Short-term investments |
|
|
3.3 |
|
|
|
22.0 |
|
Restricted cash and cash equivalents |
|
|
14.9 |
|
|
|
252.1 |
|
Accounts receivable, net of allowances of |
|
|
662.3 |
|
|
|
679.7 |
|
Software development costs and licenses |
|
|
67.4 |
|
|
|
88.3 |
|
Contract assets |
|
|
77.1 |
|
|
|
85.0 |
|
Prepaid expenses and other |
|
|
369.5 |
|
|
|
378.6 |
|
Total current assets |
|
|
2,401.3 |
|
|
|
2,259.7 |
|
Fixed assets, net |
|
|
426.0 |
|
|
|
411.1 |
|
Right-of-use assets |
|
|
325.3 |
|
|
|
325.7 |
|
Software development costs and licenses, net of current portion |
|
|
1,904.5 |
|
|
|
1,446.5 |
|
Goodwill |
|
|
4,602.6 |
|
|
|
4,426.4 |
|
Other intangibles, net |
|
|
2,686.2 |
|
|
|
3,060.6 |
|
Long-term restricted cash and cash equivalents |
|
|
87.2 |
|
|
|
95.9 |
|
Other assets |
|
|
246.8 |
|
|
|
191.0 |
|
Total assets |
|
$ |
12,679.9 |
|
|
$ |
12,216.9 |
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
||||
Current liabilities: |
|
|
|
|
||||
Accounts payable |
|
$ |
144.8 |
|
|
$ |
195.9 |
|
Accrued expenses and other current liabilities |
|
|
999.7 |
|
|
|
1,062.6 |
|
Deferred revenue |
|
|
1,091.9 |
|
|
|
1,059.5 |
|
Lease liabilities |
|
|
59.1 |
|
|
|
63.8 |
|
Short-term debt, net |
|
|
599.6 |
|
|
|
24.6 |
|
Total current liabilities |
|
|
2,895.1 |
|
|
|
2,406.4 |
|
Long-term debt, net |
|
|
3,058.3 |
|
|
|
3,058.3 |
|
Non-current deferred revenue |
|
|
33.9 |
|
|
|
42.9 |
|
Non-current lease liabilities |
|
|
386.7 |
|
|
|
387.3 |
|
Non-current software development royalties |
|
|
92.4 |
|
|
|
102.1 |
|
Deferred tax liabilities, net |
|
|
272.0 |
|
|
|
340.9 |
|
Other long-term liabilities |
|
|
239.6 |
|
|
|
211.1 |
|
Total liabilities |
|
$ |
6,978.0 |
|
|
$ |
6,549.0 |
|
Stockholders' equity: |
|
|
|
|
||||
Preferred stock, |
|
|
— |
|
|
|
— |
|
Common stock, |
|
|
2.0 |
|
|
|
1.9 |
|
Additional paid-in capital |
|
|
10,196.3 |
|
|
|
9,371.6 |
|
Treasury stock, at cost; 23.7 and 23.7 common shares at December 31, 2024 and March 31, 2024, respectively |
|
|
(1,020.6 |
) |
|
|
(1,020.6 |
) |
Accumulated deficit |
|
|
(3,332.6 |
) |
|
|
(2,579.9 |
) |
Accumulated other comprehensive loss |
|
|
(143.2 |
) |
|
|
(105.1 |
) |
Total stockholders' equity |
|
$ |
5,701.9 |
|
|
$ |
5,667.9 |
|
Total liabilities and stockholders' equity |
$ |
12,679.9 |
|
$ |
12,216.9 |
|
||
TAKE-TWO INTERACTIVE SOFTWARE, INC. |
||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
||||||||
(in millions) |
||||||||
|
|
|
|
|
||||
|
|
Nine Months Ended December 31, |
||||||
|
|
|
2024 |
|
|
|
2023 |
|
Operating activities: |
|
|
|
|
||||
Net loss |
|
$ |
(752.7 |
) |
|
$ |
(841.2 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
||||
Amortization and impairment of software development costs and licenses |
|
|
181.2 |
|
|
|
152.1 |
|
Stock-based compensation |
|
|
244.4 |
|
|
|
255.0 |
|
Noncash lease expense |
|
|
45.1 |
|
|
|
46.4 |
|
Amortization and impairment of intangibles |
|
|
563.4 |
|
|
|
924.9 |
|
Depreciation |
|
|
114.2 |
|
|
|
101.6 |
|
Goodwill impairment |
|
|
— |
|
|
|
165.4 |
|
Interest expense |
|
|
123.9 |
|
|
|
103.2 |
|
Gain on debt extinguishment |
|
|
— |
|
|
|
(7.7 |
) |
Fair value adjustments |
|
|
4.1 |
|
|
|
1.7 |
|
Other, net |
|
|
21.1 |
|
|
|
30.6 |
|
Changes in assets and liabilities, net of effect from purchases of businesses: |
|
|
|
|
||||
Accounts receivable |
|
|
2.9 |
|
|
|
98.0 |
|
Software development costs and licenses |
|
|
(568.9 |
) |
|
|
(457.3 |
) |
Prepaid expenses and other current and other non-current assets |
|
|
30.1 |
|
|
|
(47.8 |
) |
Deferred revenue |
|
|
25.3 |
|
|
|
27.2 |
|
Accounts payable, accrued expenses and other liabilities |
|
|
(358.3 |
) |
|
|
(559.3 |
) |
Net cash (used in) provided by operating activities |
|
|
(324.2 |
) |
|
|
(7.2 |
) |
Investing activities: |
|
|
|
|
||||
Change in bank time deposits |
|
|
18.7 |
|
|
|
21.2 |
|
Sale and maturities of available-for-sale securities |
|
|
— |
|
|
|
144.0 |
|
Purchases of fixed assets |
|
|
(115.3 |
) |
|
|
(95.5 |
) |
Divestitures |
|
|
36.0 |
|
|
|
— |
|
Purchases of long-term investments |
|
|
(21.4 |
) |
|
|
(17.5 |
) |
Business acquisitions |
|
|
9.4 |
|
|
|
(17.5 |
) |
Other |
|
|
(16.1 |
) |
|
|
(8.2 |
) |
Net cash (used in) provided by investing activities |
|
|
(88.7 |
) |
|
|
26.5 |
|
Financing activities: |
|
|
|
|
||||
Tax payment related to net share settlements on restricted stock awards |
|
|
— |
|
|
|
(76.6 |
) |
Issuance of common stock |
|
|
55.0 |
|
|
|
38.1 |
|
Payment for settlement of convertible notes |
|
|
(8.3 |
) |
|
|
— |
|
Proceeds from issuance of debt |
|
|
598.9 |
|
|
|
999.3 |
|
Cost of debt |
|
|
(5.4 |
) |
|
|
(7.5 |
) |
Repayment of debt |
|
|
— |
|
|
|
(989.6 |
) |
Payment of contingent earn-out consideration |
|
|
(12.0 |
) |
|
|
(35.7 |
) |
Net cash provided by (used in) financing activities |
|
|
628.2 |
|
|
|
(72.0 |
) |
Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents |
|
|
(8.4 |
) |
|
|
7.9 |
|
Net change in cash, cash equivalents, and restricted cash and cash equivalents |
|
|
206.9 |
|
|
|
(44.8 |
) |
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year (1) |
|
|
1,102.0 |
|
|
|
1,234.6 |
|
Cash, cash equivalents, and restricted cash and cash equivalents, end of period (1) |
|
$ |
1,308.9 |
|
|
$ |
1,189.8 |
|
(1) Cash, cash equivalents and restricted cash and cash equivalents shown on our Condensed Consolidated Statements of Cash Flow includes amounts in the Cash and cash equivalents, Restricted cash and cash equivalents, and Long-term restricted cash and cash equivalents on our Condensed Consolidated Balance Sheet. |
||||||||
TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES |
|
|
||||||||||
Net Revenue and Net Bookings by Geographic Region, Distribution Channel, and Platform Mix |
|
|
||||||||||
(in millions) |
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended December 31, 2024 |
|
Three Months Ended December 31, 2023 |
||||||||
|
|
Amount |
|
% of total |
|
Amount |
|
% of total |
||||
Net revenue by geographic region |
|
|
|
|
|
|
|
|
||||
|
|
$ |
825.7 |
|
61 |
% |
|
$ |
818.3 |
|
60 |
% |
International |
|
|
534.1 |
|
39 |
% |
|
|
548.0 |
|
40 |
% |
Total Net revenue |
|
$ |
1,359.8 |
|
100 |
% |
|
$ |
1,366.3 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
||||
Net Bookings by geographic region |
|
|
|
|
|
|
|
|
||||
|
|
$ |
841.8 |
|
61 |
% |
|
$ |
786.6 |
|
59 |
% |
International |
|
|
531.6 |
|
39 |
% |
|
|
551.2 |
|
41 |
% |
Total Net Bookings |
|
$ |
1,373.4 |
|
100 |
% |
|
$ |
1,337.8 |
|
100 |
% |
|
|
|
|
|
|
|
||||||
|
|
Three Months Ended December 31, 2024 |
|
Three Months Ended December 31, 2023 |
||||||||
|
|
Amount |
|
% of total |
|
Amount |
|
% of total |
||||
Net revenue by distribution channel |
|
|
|
|
|
|
|
|
||||
Digital online |
|
$ |
1,310.7 |
|
96 |
% |
|
$ |
1,297.3 |
|
95 |
% |
Physical retail and other |
|
|
49.1 |
|
4 |
% |
|
|
69.0 |
|
5 |
% |
Total Net revenue |
|
$ |
1,359.8 |
|
100 |
% |
|
$ |
1,366.3 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
||||
Net Bookings by distribution channel |
|
|
|
|
|
|
|
|
||||
Digital online |
|
$ |
1,324.0 |
|
96 |
% |
|
$ |
1,268.4 |
|
95 |
% |
Physical retail and other |
|
|
49.4 |
|
4 |
% |
|
|
69.4 |
|
5 |
% |
Total Net Bookings |
|
$ |
1,373.4 |
|
100 |
% |
|
$ |
1,337.8 |
|
100 |
% |
|
|
|
|
|
|
|
||||||
|
|
Three Months Ended December 31, 2024 |
|
Three Months Ended December 31, 2023 |
||||||||
|
|
Amount |
|
% of total |
|
Amount |
|
% of total |
||||
Net revenue by platform |
|
|
|
|
|
|
|
|
||||
Mobile |
|
$ |
731.6 |
|
54 |
% |
|
$ |
706.7 |
|
52 |
% |
Console |
|
|
507.9 |
|
37 |
% |
|
|
547.6 |
|
40 |
% |
PC and other |
|
|
120.3 |
|
9 |
% |
|
|
112.0 |
|
8 |
% |
Total Net revenue |
|
$ |
1,359.8 |
|
100 |
% |
|
$ |
1,366.3 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
||||
Net Bookings by platform |
|
|
|
|
|
|
|
|
||||
Mobile |
|
$ |
709.5 |
|
52 |
% |
|
$ |
697.9 |
|
52 |
% |
Console |
|
|
538.0 |
|
39 |
% |
|
|
524.3 |
|
39 |
% |
PC and other |
|
|
125.9 |
|
9 |
% |
|
|
115.6 |
|
9 |
% |
Total Net Bookings |
|
$ |
1,373.4 |
|
100 |
% |
|
$ |
1,337.8 |
|
100 |
% |
TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES |
|
|
||||||||||
Net Revenue and Net Bookings by Geographic Region, Distribution Channel, and Platform Mix |
|
|
||||||||||
(in millions) |
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
||||
|
|
Nine Months Ended December 31, 2024 |
|
Nine Months Ended December 31, 2023 |
||||||||
|
|
Amount |
|
% of total |
|
Amount |
|
% of total |
||||
Net revenue by geographic region |
|
|
|
|
|
|
|
|
||||
|
|
$ |
2,460.7 |
|
61 |
% |
|
$ |
2,417.8 |
|
61 |
% |
International |
|
|
1,590.4 |
|
39 |
% |
|
|
1,532.4 |
|
39 |
% |
Total Net revenue |
|
$ |
4,051.1 |
|
100 |
% |
|
$ |
3,950.2 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
||||
Net Bookings by geographic region |
|
|
|
|
|
|
|
|
||||
|
|
$ |
2,484.7 |
|
61 |
% |
|
$ |
2,428.6 |
|
61 |
% |
International |
|
|
1,581.8 |
|
39 |
% |
|
|
1,555.6 |
|
39 |
% |
Total Net Bookings |
|
$ |
4,066.5 |
|
100 |
% |
|
$ |
3,984.2 |
|
100 |
% |
|
|
|
|
|
|
|
||||||
|
|
Nine Months Ended December 31, 2024 |
|
Nine Months Ended December 31, 2023 |
||||||||
|
|
Amount |
|
% of total |
|
Amount |
|
% of total |
||||
Net revenue by distribution channel |
|
|
|
|
|
|
|
|
||||
Digital online |
|
$ |
3,906.2 |
|
96 |
% |
|
$ |
3,777.0 |
|
96 |
% |
Physical retail and other |
|
|
144.9 |
|
4 |
% |
|
|
173.2 |
|
4 |
% |
Total Net revenue |
|
$ |
4,051.1 |
|
100 |
% |
|
$ |
3,950.2 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
||||
Net Bookings by distribution channel |
|
|
|
|
|
|
|
|
||||
Digital online |
|
$ |
3,928.5 |
|
97 |
% |
|
$ |
3,805.7 |
|
96 |
% |
Physical retail and other |
|
|
138.0 |
|
3 |
% |
|
|
178.5 |
|
4 |
% |
Total Net Bookings |
|
$ |
4,066.5 |
|
100 |
% |
|
$ |
3,984.2 |
|
100 |
% |
|
|
|
|
|
|
|
||||||
|
|
Nine Months Ended December 31, 2024 |
|
Nine Months Ended December 31, 2023 |
||||||||
|
|
Amount |
|
% of total |
|
Amount |
|
% of total |
||||
Net revenue by platform |
|
|
|
|
|
|
|
|
||||
Mobile |
|
$ |
2,194.3 |
|
54 |
% |
|
$ |
2,032.9 |
|
52 |
% |
Console |
|
|
1,507.9 |
|
37 |
% |
|
|
1,598.6 |
|
40 |
% |
PC and other |
|
|
348.9 |
|
9 |
% |
|
|
318.7 |
|
8 |
% |
Total Net revenue |
|
$ |
4,051.1 |
|
100 |
% |
|
$ |
3,950.2 |
|
100 |
% |
|
|
|
|
|
|
|
|
|
||||
Net Bookings by platform |
|
|
|
|
|
|
|
|
||||
Mobile |
|
$ |
2,141.9 |
|
52 |
% |
|
$ |
2,049.4 |
|
51 |
% |
Console |
|
|
1,565.7 |
|
39 |
% |
|
|
1,622.4 |
|
41 |
% |
PC and other |
|
|
358.9 |
|
9 |
% |
|
|
312.4 |
|
8 |
% |
Total Net Bookings |
|
$ |
4,066.5 |
|
100.0 |
% |
|
$ |
3,984.2 |
|
100 |
% |
TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES |
|
|
|
|
|
|
|
|
|||||||||||||||||||
ADDITIONAL DATA |
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Three Months Ended December 31, 2024 |
Net revenue |
|
Cost of revenue- Product costs |
|
Cost of revenue- Game intangibles |
|
Cost of revenue- Internal royalties |
|
Cost of revenue- Licenses |
|
Cost of revenue- Software development costs and royalties |
|
|
||||||||||||||
As reported |
$ |
1,359.8 |
|
|
$ |
200.2 |
|
|
$ |
171.1 |
|
|
$ |
103.1 |
|
|
$ |
88.8 |
|
|
$ |
36.7 |
|
|
|
||
Net effect from deferred revenue and related cost of revenue |
|
13.7 |
|
|
|
2.7 |
|
|
|
|
|
|
|
0.1 |
|
|
|
(1.6 |
) |
|
|
||||||
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
|
(2.6 |
) |
|
|
||||||||||||
Amortization of acquired intangibles |
|
|
|
(0.8 |
) |
|
|
(171.1 |
) |
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Three Months Ended December 31, 2024 |
Selling and marketing |
|
Research and development |
|
General and administrative |
|
Depreciation and amortization |
|
Business reorganization |
|
Interest and other, net |
|
Gain (loss) on fair value adjustments, net |
||||||||||||||
As reported |
$ |
388.9 |
|
|
$ |
240.9 |
|
|
$ |
189.6 |
|
|
$ |
49.5 |
|
|
|
23.1 |
|
|
$ |
(21.0 |
) |
|
$ |
0.2 |
|
Net effect from deferred revenue and related cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
2.8 |
|
|
|
||||||||||||
Stock-based compensation |
|
(22.4 |
) |
|
|
(26.1 |
) |
|
|
(31.8 |
) |
|
|
|
|
|
|
|
|
||||||||
Amortization of acquired intangibles |
|
(1.0 |
) |
|
|
(7.2 |
) |
|
|
|
|
(9.2 |
) |
|
|
|
|
|
|
||||||||
Acquisition related expenses |
|
(0.2 |
) |
|
|
(0.8 |
) |
|
|
7.8 |
|
|
|
|
|
|
|
2.2 |
|
|
|
0.7 |
|
||||
Impact of business reorganization |
|
|
|
|
|
|
|
|
|
(23.1 |
) |
|
|
|
|
||||||||||||
Other |
|
|
|
|
|
|
|
|
|
|
|
4.3 |
|
|
|
(0.9 |
) |
||||||||||
Three Months Ended December 31, 2023 |
Net revenue |
|
Cost of revenue - Product costs |
|
Cost of revenue -Game intangibles |
|
Cost of revenue- Internal royalties |
|
Cost of revenue- Licenses |
|
Cost of revenue- Software development costs and royalties |
|
|
||||||||||||||
As reported |
$ |
1,366.3 |
|
|
$ |
191.3 |
|
|
$ |
230.1 |
|
|
$ |
134.1 |
|
|
$ |
73.0 |
|
|
$ |
59.7 |
|
|
|
||
Net effect from deferred revenue and related cost of revenue |
|
(28.5 |
) |
|
|
1.1 |
|
|
|
|
|
|
|
0.3 |
|
|
|
(1.5 |
) |
|
|
||||||
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
|
(6.3 |
) |
|
|
||||||||||||
Amortization and impairment of acquired intangibles |
|
|
|
|
|
(230.1 |
) |
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Three Months Ended December 31, 2023 |
Selling and marketing |
|
Research and development |
|
General and administrative |
|
Depreciation and amortization |
|
Business reorganization |
|
Interest and other, net |
|
Gain (loss) on fair value adjustments, net |
||||||||||||||
As reported |
$ |
367.3 |
|
|
$ |
232.0 |
|
|
$ |
165.0 |
|
|
$ |
42.6 |
|
|
$ |
0.7 |
|
|
$ |
(22.5 |
) |
|
$ |
(0.3 |
) |
Net effect from deferred revenue and related cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
(1.8 |
) |
|
|
||||||||||||
Stock-based compensation |
|
(23.9 |
) |
|
|
(26.9 |
) |
|
|
(28.8 |
) |
|
|
|
|
|
|
|
|
||||||||
Amortization and impairment of acquired intangibles |
|
(1.6 |
) |
|
|
(7.2 |
) |
|
|
|
|
(10.3 |
) |
|
|
|
|
|
|
||||||||
Acquisition related expenses |
|
|
|
|
|
10.9 |
|
|
|
|
|
|
|
1.8 |
|
|
|
||||||||||
Impact of business reorganization |
|
|
|
|
|
|
|
|
|
(0.7 |
) |
|
|
|
|
||||||||||||
Other |
|
|
|
(0.8 |
) |
|
|
|
|
|
|
|
|
3.8 |
|
|
|
0.3 |
|
||||||||
TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES |
|
|
|
|
|
|
|
|
||||||||||||||||||
ADDITIONAL DATA |
|
|
|
|
|
|
|
|
|
|||||||||||||||||
(in millions) |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Nine Months Ended December 31, 2024 |
Net revenue |
|
Cost of revenue - Product costs |
Cost of revenue - Game intangibles |
|
Cost of revenue- Internal royalties |
|
Cost of revenue- Licenses |
|
Cost of revenue- Software development costs and royalties |
|
|
||||||||||||||
As reported |
$ |
4,051.1 |
|
|
$ |
616.0 |
|
$ |
508.0 |
|
|
$ |
249.3 |
|
|
$ |
241.1 |
|
|
$ |
177.8 |
|
|
|
||
Net effect from deferred revenue and related cost of revenue |
|
15.5 |
|
|
|
0.3 |
|
|
|
|
|
|
1.7 |
|
|
|
(0.5 |
) |
|
|
||||||
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
(8.6 |
) |
|
|
||||||||||||
Amortization of acquired intangibles |
|
|
|
(2.4 |
) |
|
(508.0 |
) |
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Nine Months Ended December 31, 2024 |
Selling and marketing |
|
Research and development |
General and administrative |
|
Depreciation and amortization |
|
Business reorganization |
|
Interest and other, net |
|
Gain (loss) on fair value adjustments, net |
||||||||||||||
As reported |
$ |
1,281.6 |
|
|
$ |
707.4 |
|
$ |
653.1 |
|
|
$ |
141.6 |
|
|
$ |
89.4 |
|
|
$ |
(71.1 |
) |
|
$ |
(4.1 |
) |
Net effect from deferred revenue and related cost of revenue |
|
|
|
|
|
|
|
|
|
|
2.0 |
|
|
|
||||||||||||
Stock-based compensation |
|
(68.1 |
) |
|
|
(75.5 |
) |
|
(92.2 |
) |
|
|
|
|
|
|
|
|
||||||||
Amortization of acquired intangibles |
|
(4.1 |
) |
|
|
(21.5 |
) |
|
|
|
(27.4 |
) |
|
|
|
|
|
|
||||||||
Impact of business reorganization |
|
|
|
|
|
|
|
|
(89.4 |
) |
|
|
|
|
||||||||||||
Acquisition related expenses |
|
(0.3 |
) |
|
|
(1.5 |
) |
|
(61.9 |
) |
|
|
|
|
|
|
6.4 |
|
|
|
1.8 |
|
||||
Other |
|
|
|
|
|
|
|
|
|
|
11.5 |
|
|
|
2.3 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Nine Months Ended December 31, 2023 |
Net revenue |
|
Cost of revenue - Product costs |
Cost of revenue - Game intangibles |
|
Cost of revenue - Internal royalties |
|
Cost of revenue - Licenses |
|
Cost of revenue- Software development costs and royalties |
|
Selling and marketing |
||||||||||||||
As reported |
$ |
3,950.2 |
|
|
$ |
545.9 |
|
$ |
826.4 |
|
|
$ |
319.5 |
|
|
$ |
227.2 |
|
|
$ |
258.5 |
|
|
$ |
1,101.3 |
|
Net effect from deferred revenue and related cost of revenue |
|
34.0 |
|
|
|
0.1 |
|
|
|
|
|
|
(0.4 |
) |
|
|
3.0 |
|
|
|
||||||
Stock-based compensation |
|
|
|
|
|
|
|
|
|
|
(20.5 |
) |
|
|
(72.8 |
) |
||||||||||
Amortization and impairment of acquired intangibles |
|
|
|
|
(826.4 |
) |
|
|
|
|
|
|
|
|
(49.4 |
) |
||||||||||
Acquisition related expenses |
|
|
|
|
|
|
|
|
10.0 |
|
|
|
|
|
(0.2 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Nine Months Ended December 31, 2023 |
Research and development |
|
General and administrative |
Depreciation and amortization |
|
Goodwill impairment |
|
Business reorganization |
|
Interest and other, net |
|
Gain (loss) on fair value adjustments, net |
||||||||||||||
As reported |
$ |
702.7 |
|
|
$ |
541.2 |
|
$ |
128.3 |
|
|
$ |
165.4 |
|
|
$ |
11.3 |
|
|
$ |
(79.0 |
) |
|
$ |
(1.7 |
) |
Net effect from deferred revenue and related cost of revenue |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||
Stock-based compensation |
|
(79.4 |
) |
|
|
(82.3 |
) |
|
|
|
|
|
|
|
|
|
||||||||||
Amortization and impairment of acquired intangibles |
|
(21.5 |
) |
|
|
|
(28.2 |
) |
|
|
|
|
|
|
|
|
||||||||||
Impact of business reorganization |
|
|
|
|
|
|
|
|
(11.3 |
) |
|
|
|
|
||||||||||||
Acquisition related expenses |
|
(2.2 |
) |
|
|
(17.1 |
) |
|
|
|
(165.4 |
) |
|
|
|
|
(1.0 |
) |
|
|
3.2 |
|
||||
Other |
|
(0.8 |
) |
|
|
|
|
|
|
|
|
|
19.6 |
|
|
|
(1.7 |
) |
||||||||
TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES |
|
|
|
|
||||
RECONCILIATION OF GAAP TO NON-GAAP MEASURE |
|
|
|
|
||||
(in millions) |
|
|
|
|
||||
|
|
|
|
|
||||
|
|
Nine Months Ended December 31, |
||||||
|
|
|
2024 |
|
|
|
2023 |
|
Net cash from operating activities |
|
$ |
(324.2 |
) |
|
$ |
(7.2 |
) |
Net change in Restricted cash (1) |
|
|
246.9 |
|
|
|
115.0 |
|
Adjusted Unrestricted Operating Cash Flow |
|
$ |
(77.3 |
) |
|
$ |
107.8 |
|
|
|
|
|
|
||||
|
|
Nine Months Ended December 31, |
||||||
|
|
|
2024 |
|
|
|
2023 |
|
Restricted cash beginning of period |
|
$ |
348.0 |
|
|
$ |
407.2 |
|
Restricted cash end of period |
|
|
102.1 |
|
|
|
291.1 |
|
Restricted cash related to acquisitions |
|
|
(1.0 |
) |
|
|
1.1 |
|
(1) Net change in Restricted cash |
|
$ |
246.9 |
|
|
$ |
115.0 |
|
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES |
|
|
|
||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP MEASURE |
|
|
|
||||||||||||
(in millions) |
|
|
|
|
|
|
|
||||||||
|
|
Three Months Ended December 31, |
Nine Months Ended December 31, |
||||||||||||
|
|
|
2024 |
|
|
|
2023 |
|
|
2024 |
|
|
|
2023 |
|
Net loss |
|
$ |
(125.2 |
) |
|
$ |
(91.6 |
) |
$ |
(752.7 |
) |
|
$ |
(841.2 |
) |
(Benefit from) provision for income taxes |
|
|
(27.7 |
) |
|
|
(60.7 |
) |
|
63.3 |
|
|
|
(117.0 |
) |
Interest expense |
|
|
12.2 |
|
|
|
17.4 |
|
|
50.0 |
|
|
|
50.3 |
|
Depreciation and amortization |
|
|
49.5 |
|
|
|
42.6 |
|
|
141.6 |
|
|
|
128.3 |
|
Amortization of acquired intangibles |
|
|
180.0 |
|
|
|
238.8 |
|
|
536.0 |
|
|
|
897.3 |
|
Goodwill impairment |
|
|
— |
|
|
|
— |
|
|
— |
|
|
|
165.4 |
|
EBITDA |
|
$ |
88.8 |
|
|
$ |
146.5 |
|
$ |
38.2 |
|
|
$ |
283.1 |
|
Outlook |
|
|
|
|
Fiscal Year Ending March 31, 2025 |
Net loss |
|
|
Provision for income taxes |
|
|
Interest expense |
|
|
Depreciation |
|
|
Amortization of acquired intangibles |
|
|
EBITDA |
|
|
Outlook |
|
|
|
|
Three Months Ended March 31, 2024 |
Net (loss) income |
|
|
Provision for (benefit from) income taxes |
|
|
Interest expense |
|
|
Depreciation |
|
|
Amortization of acquired intangibles |
|
|
EBITDA |
|
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20250206999431/en/
(Investor Relations)
Nicole Shevins
Senior Vice President
Investor Relations & Corporate Communications
Take-Two Interactive Software, Inc.
(646) 536-3005
Nicole.Shevins@take2games.com
(Corporate Press)
Alan Lewis
Vice President
Corporate Communications & Public Affairs
Take-Two Interactive Software, Inc.
(646) 536-2983
Alan.Lewis@take2games.com
Source: Take-Two Interactive
FAQ
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