17 slides from Take-two Interactive Software's earnings presentation, Aug 8, 2024
Slide 1: First Quarter Fiscal 2025 Results & Guidance Summary
TAKE-TWO INTERACTIVE SOFTWARE, INC. (NASDAQ: TTWO) / FIRST QUARTER FISCAL 2025 RESULTS TAKE-TWO INTERACTIVE & GUIDANCE SUMMARY
Slide 2: Cautionary Note: Forward Looking Statements
CAUTIONARY NOTE: FORWARD LOOKING STATEMENTS Statements contained herein which are not historical facts are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," “estimates,” "expects," "intends," “plans,” "potential," "p
Slide 3: Q1 FY2025 Results Summary: GAAP
Q1FY2025 RESULTS SUMMARY: GAAP FINANCIAL SUMMARY (¢$ in millions, except EPS) Ql ACTUAL GUIDANCE GAAP Net Revenue $1,338 $1,300 TO $1,350 Operating Expenses $956 $928 TO $938 GAAP Net Loss $(262) $(272) TO $(245) GAAP EPS $(1.52) $(1.58) TO $(1.43) Note: GAAP results were impacted by business reorga
Slide 4: Q1 FY2025 Results Summary: Select Management and Operating Results
Q1FY2025 RESULTS SUMMARY: SELECT MANAGEMENT AND OPERATING RESULTS SELECT FINANC DATA ($ in m al + Net Bookings were $1.2 billion, which was in line with our guidance range ACTUAL GUIDANCE + Recurrent consumer spending was flat versus the prior year: . * Mobile increased mid single digits, driven by
Slide 5: Net Revenue and Net Bookings
NET REVENUE AND NET BOOKINGS GAAP Net Revenue $ in Millions $5,570 - 5,350 5,350 $1,338 $ $ ey @1FY24 @1FY25 FY23 FY24 FY25E @ Recurrent Consumer Spending @ Physical & Other ® Digital @ Recurrent Consumer Spending @ Physical & Other ® Digital Net Bookings (Operationa $in Millions Metric $5,550 - $5,
Slide 6: Cash Flow
CASH FLOW T2. Net Cash From Opera’ $ in Millions $142 $140 $s $32 sss a a | 3 Months FY24 3 Months FY25 Fy23 ~si6FY24 CSE “$191 ~$200 Net Cash From Operating Activities = Capital Expenditures Net Cash From Operating Activities = Capital Expenditures Adjusted Unrestricted Operating Cash Flow (Non-GAA
Slide 7: FY 2025 Guidance: GAAP
FY 2025 GUIDANCE: GAAP FISCAL YEAR 2025 GUIDANCE ($ in millions, except EPS) FY 2025 REVISED PRIOR GUIDANCE GUIDANCE GAAP Net Revenue $5,570 TO $5,670 NO CHANGE TO PRIOR GUIDANCE Operating Expenses $3,695 TO $3,715 PREVIOUSLY: $3,559 TO $3,579 GAAP Net Loss $(757) TO $(690) PREVIOUSLY: $(674) TO $(6
Slide 8: FY 2025 Guidance: Select Financial Data
FY 2025 GUIDANCE: SELECT FINANCIAL DATA FY 2024 CURRENT GUIDANCE PRIOR GUIDANCE FY 2024 ($IN MILLIONS) $5,550 TO $5,650 ($ IN MILLIONS) Net Bookings NO CHANGE Recurrent Consumer Spending Growth (RCS) Non-GAAP Adjusted Unrestricted Operating Cash Flow +3% YOY NO CHANGE APPROXIMATELY ($150) PRIOR: APP
Slide 9: Q2 FY2025 Guidance: GAAP
Q2 FY2025 GUIDANCE: GAAP @Q2 FISCAL 2025 GUIDANCE ($ in millions, except EPS) @Q2 FY25 GUIDANCE GAAP Net Revenue $1,290 TO $1,340 Operating Expenses $982 TO $992 GAAP Net Loss $(400) TO $(373) GAAP EPS $(2.30) TO $(2.15)
Slide 10: Q2 FY2025 Guidance: Select Financial Data
Q2 FY2025 GUIDANCE: SELECT FINANCIAL DATA Q2 @Q2 FY2025 GUIDANCE ($ IN MILLIONS) Net Bookings $1,420 TO $1,470 Recurrent Consumer Spending +5% YOY Growth (RCS) T2 (3) The individual components of the financial o simultaneously 2025 GUIDANCE ($ in million utlook may not foot the totals, as the Compan
Slide 11: FY25-FY27 Pipeline Details
FY25-FY27 PIPELINE DETAILS TITLES OFFICALLY ANNOUNCED TO-DATE Top Spint 2K25 (2K) = Launched April 26, 2024 NBA 2K25 (2k) - Launching September 6, 2024 WWE 2K25 (2K) - Launching Q4 Fiscal 2025 Immersive Core Sid Meler’s Civilization 7: Launching @4 Fiscal 2025 Grand Theft Auto V1 ~ Launching Fall of
Slide 12: Pipeline Definitions
PIPELINE DEFINITIONS IMMERSIVE CORE Titles that have the deepest gameplay and the most hours of content. Examples include our key sports franchises (like PGA 2K and NBA 2k) as well as Grand Theft Auto and Red Dead Redemption (to name a few). INDEPENDENT Externally developed Private Division releases
Slide 13: Non-GAAP Financial Measure
NON-GAAP FINANCIAL MEASURE In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses Non-GAAP. measures of financial performance: Adjusted Unrestricted Operating Cash Flow, which is defined as GAAP net cash from operating act
Slide 14: Reconciliation of GAAP to Non-GAAP Measure
RECONCILIATION OF GAAP TO NON-GAAP MEASURE TAKE-TWO INTERACTIVE SOFTWARE, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP MEASURE Net cash from operating activities Net change in Restricted cash" Adjusted Unrestricted Operating Cash Flow Restricted cash beginning of period Restricted cash e
Slide 15: Reconciliation of GAAP to Non-GAAP Measure
RECONCILIATION OF GAAP TO NON-GAAP MEASURE TAKE-TWO INTERACTIVE SOFTWARE, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP MEASURE Cin millions) ‘Three Months Ended June 30, 2024 2023 Net loss s (262.0) $ (206.0) Provision for (benefit from) income taxes 49.8 (22.9) Interest expense 19.2, 12
Slide 16: Reconciliation of GAAP to Non-GAAP Measure
RECONCILIATION OF GAAP TO NON-GAAP MEASURE TAKE-TWO INTERACTIVE SOFTWARE, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP MEASURE Outlook Net loss Provision for income taxes Interest expense Depreciation Amortization of acquired intangibles EBITDA Outlook Net loss Provision for income taxes
Slide 17: Thank You
THANK YOU TAKE-TWO INTERACTIVE