17 slides from Take-two Interactive Software's earnings presentation, Feb 8, 2024
Slide 1: Third Quarter Fiscal 2024 Results & Guidance Summary
TAKE-TWO INTERACTIVE SOFTWARE, INC. (NASDAQ: TTWO) THIRD QUARTER FISCAL 2024 RESULTS & 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: Q3 FY2024 Results Summary: GAAP
Q3 FY2024 RESULTS SUMMARY: GAAP FINANCIAL SUMMARY ($ in millions, except EPS) Q3 ACTUAL GUIDANCE GAAP Net Revenue $1,366 $1,290 TO $1,340 Operating Expenses $808 $826 TO $836 GAAP Net Loss $(92) $(124) TO $(107) GAAP EPS $(0.54) $(0.73) TO $(0.63) Note: GAAP results were impacted by: 1) an impairmen
Slide 4: Q3 FY2024 Results Summary: Select Management and Operating Results
Q3 FY2024 RESULTS SUMMARY: SELECT MANAGEMENT AND OPERATING RESULTS SELECT FINANCIAL DATA ($ in millions) • We delivered solid holiday results, including Net Bookings of $1.34 billion, which were within our guidance range Q3 • Grand Theft Auto V, Grand Theft Auto Online, the Red Dead Redemption serie
Slide 5: Net Revenue and Net Bookings
NET REVENUE AND NET BOOKINGS GAAP Net Revenue $ in Millions $400 $1,408 $5,350 $5,270 - $5,320 $1,366 $684 $71 $264 79% of $69 78% of 76% of $400 Total Total Total $3,505 $1,337 $5,086 $356 65% of Total $1,297 $3,149 Q3 FY23 Q3 FY24 FY22 FY23 FY24E Recurrent Consumer Spending Physical & Other Digita
Slide 6: Cash Flow
CASH FLOW Net Cash From Operating Activities $ in Millions $258 $204 $159 $150 $90 $138 $96 $36 -$7 $1 9 Months FY23 9 Months FY24 FY22 FY23 FY24E Net Cash From Operating Activities Capital Expenditures Net Cash From Operating Activities Capital Expenditures Adjusted Unrestricted Operating Cash Flow
Slide 7: FY 2024 Guidance: GAAP
FY 2024 GUIDANCE: GAAP FISCAL YEAR 2024 GUIDANCE ($ in millions, except EPS) FY 2024 REVISED GUIDANCE PRIOR GUIDANCE GAAP Net Revenue $5,270 TO $5,320 PREVIOUSLY: $5,370 TO $5,470 Operating Expenses $3,545 TO $3,555 PREVIOUSLY: $3,530 TO $3,550 GAAP Net Loss $(1,013) TO $(995) PREVIOUSLY: $(957) TO
Slide 8: FY 2024 Guidance: Select Financial Data
FY 2024 GUIDANCE: SELECT FINANCIAL DATA FISCAL YEAR 2024 GUIDANCE ($ in millions, except EPS) FY 2024 FY 2024 CURRENT GUIDANCE PRIOR GUIDANCE ($ IN MILLIONS) ($ IN MILLIONS) Net Bookings $5,250 TO $5,300 PRIOR:$5,450 TO $5,550 Recurrent Consumer Spending Growth +1% YOY PRIOR: +4% (RCS) Non-GAAP Adju
Slide 9: Q4 FY2024 Guidance: GAAP
Q4 FY2024 GUIDANCE: GAAP Q4 FISCAL 2024 GUIDANCE ($ in millions, except EPS) Q4 FY24 GUIDANCE GAAP Net Revenue $1,323 TO $1,373 Operating Expenses $896 TO $906 GAAP Net Loss $(170) TO $(153) GAAP EPS $(0.90) TO $(1.00) 9
Slide 10: Q4 FY2024 Guidance: Select Financial Data
Q4 FY2024 GUIDANCE: SELECT FINANCIAL DATA Q4 FISCAL 2024 GUIDANCE ($ in millions, except EPS) Q4 FY2024 GUIDANCE ($ IN MILLIONS) Net Bookings $1,270 TO $1,320 Recurrent Consumer Spending Growth -5% YOY (RCS) • We expect to deliver Net Bookings of $1.270 billion to $1.320 billion • Our release slate
Slide 11: FY24-FY26 Pipeline Details
FY24-FY26 PIPELINE DETAILS * FY24-26 release estimates provided as of May 17, 2023. Full updated FY25/26 pipeline details to be given with Q4 FY2024 results. ** Mobile count only includes titles in our plans for worldwide launch and excludes hyper-casual games. These titles are a snapshot of our cur
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 (e.g. PGA TOUR 2K and NBA 2K) as well as Grand Theft Auto and Red Dead Redemption (to name a few). INDEPENDENT Externally-developed Private Division rel
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 acti
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 (in millions) 14
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 (in millions) 15
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 (in millions) 16
Slide 17: Thank You
THANK YOU TAKE-TWO INTERACTIVE