Slide 1: Electronic Arts Inc. Q1 FY25 Results
Electronic Arts Inc. Q1 FY25 Results July 30, 2024
Slide 2: Table of Contents
Safe Harbor Statement Select Q1 FY25 Highlights Table of Net Bookings Results Core Business and FY25 Title Slate Contents Q1 FY25 Actuals & Guidance GAAP to Non-GAAP Reconciliation Appendix 2
Slide 3: Safe Harbor Statement
Safe Harbor Statement Please review our risk factors on Form 10-K filed with the SEC Some statements set forth in this document, including the information relating to EA’s fiscal 2025 guidance information and title slate contain forward-looking statements that are subject to change. Statements inclu
Slide 4: Select Q1 FY25 Highlights
Select Q1 FY25 Highlights EA SPORTSTM Madden NFL grew net bookings by double digits year over year in Q1 $5.3B EA SPORTS FCTM Mobile reported record net bookings for Q1 Live Services TTM net bookings $7.1B Live Services represented 75% of total TTM net bookings $1.9B Total TTM net bookings TTM Free
Slide 5: Net Bookings by Composition
Net Bookings by Composition (in $ millions) Quarterly Trailing 12 Months YoY YoY CC YoY 7,478 7,620 7,114 (7%) 1,578 2,028 2,047 1,772 (13%) 1,299 401 1,262 (20%) (20%) 165 168 (58%) (58%) 1,177 5,450 5,573 5,342 (4%) 1,134 1,094 (7%) (7%) Q1 FY23 Q1 FY24 Q1 FY25 Q1 FY23 Q1 FY24 Q1 FY25 Full game Li
Slide 6: Net Bookings by Platform
Net Bookings by Platform (in $ millions) Quarterly Trailing 12 Months YoY YoY CC YoY 7,478 7,620 7,114 (7%) 1,578 1,299 1,262 (20%) (20%) 4,558 4,602 4,390 (5%) 901 637 (25%) (25%) 677 348 374 1,685 1,785 1,550 (13%) 295 (21%) (21%) 314 303 290 (4%) (4%) 1,235 1,233 1,174 (5%) Q1 FY23 Q1 FY24 Q1 FY2
Slide 7: Core Business and FY25 Title Slate
Core Business and FY25 Title Slate Ecosystems New Releases in FY25 Tales of Kenzera : ZAU (Apr 23) EA SPORTS College Football 25 (Jul 19) EA SPORTS F1 24© (May 31) EA SPORTS Madden NFL 25 (Aug 16) EA SPORTS FC 25 (Sep 27) EA SPORTS NHL 25 Unannounced partner title Dragon Age : The Veilguard 7 Refer
Slide 8: Q1 FY25 Actuals, FY25 & Q2 Guidance
Q1 FY25 Actuals, FY25 & Q2 Guidance (in $ millions, except EPS) Q1 FY25A FY25E Q2 FY25E Net Revenue 1,660 7,100 to 7,500 1,900 to 2,000 Cost of Revenue 263 1,480 to 1,520 420 to 450 GAAP EPS $1.04 $3.34 to $4.00 $0.76 to $0.93 Operating Cash Flow 120 2,050 to 2,250 GAAP Operating Margin 21.9% 18.0%
Slide 9: GAAP to Non-GAAP Reconciliation: Q1 FY25 Actuals
GAAP to Non-GAAP Reconciliation: Q1 FY25 Actuals Three Months Ended June 30, 2024 GAAP-Based Financial GAAP-Based Financial Data Data A B C D =A+B+C+D Statement of Acquisition- Restructuring and Stock-based Non-GAAP Change in deferred net Operations related related charges compensation revenue (onli
Slide 10: GAAP to Non-GAAP Reconciliation: FY25 Guidance
GAAP to Non-GAAP Reconciliation: FY25 Guidance Twelve Months Ending March 31, 2025 GAAP-Based Financial GAAP-Based Financial Data Data A B C D =A+B+C+D GAAP Guidance Acquisition- Restructuring Stock-based Non-GAAP Change in deferred net Range related and related compensation Guidance revenue (online
Slide 11: Q2 FY25 Guidance
Q2 FY25 Guidance Three Months Ending September 30, 2024 GAAP-Based Financial Data GAAP Guidance Acquisition- Restructuring Stock-based Change in deferred Range related and related charges compensation net revenue expenses (online-enabled games) (in $ millions) Net revenue 1,900 to 2,000 - - - 50 Cos
Slide 12: Appendix
Cash Flow Selected Data Currency Assumptions Appendix Constant Currency Reconciliation Additional Disclosures Non-GAAP Financial Measures 12
Slide 13: Cash Flow Selected Data
Cash Flow Selected Data (in $ millions) Actuals Q1 2025 Q1 2024 TTM Q1 2025 TTM Q1 2024 Operating Cash Flow 120 359 2,076 1,987 Capital Expenditures 67 45 221 193 Free Cash Flow 53 314 1,855 1,794 Investing Cash Flow (69) (44) (232) (196) Financing Cash Flow (546) (482) (1,688) (1,606) 13 Free cash
Slide 14: Currency Assumptions
Currency Assumptions Current FX assumptions 1,2 USD/ Q1 2024 Q1 2025 Q2-Q4E 2025 EUR 1.09 1.08 1.07 Net Bookings GBP 1.24 1.26 1.26 CAD 1.36 1.37 1.37 Operating Expenses SEK 10.47 10.75 10.56 Rule of thumb If the U.S. dollar strengthens 10% against the Euro and British pound sterling: If the U.S. do
Slide 15: Constant Currency Reconciliation – Net Bookings Guidance
Constant Currency Reconciliation – Net Bookings Guidance (in $ millions) Percentage 2025 2024 Percentage Currency Impact Change YoY As Guidance As Reported Change YoY Constant Currency Low 7,300 7,430 (2%) 17 (2%) High 7,700 7,430 +4% 17 +4% Percentage Q2 2025 Q2 2024 Percentage Currency Impact Chan
Slide 16: Constant Currency Reconciliation – Net Bookings (Q1)
Constant Currency Reconciliation – Net Bookings (Q1) (in $ millions) Percentage Q1 2025 Q1 2024 Percentage Q1 2025 Change YoY As Reported As Reported Change YoY Currency Impact Constant Currency Console 677 901 (25%) (1) (25%) PC & other 295 374 (21%) 3 (21%) Mobile 290 303 (4%) 1 (4%) Net Bookings
Slide 17: Additional Disclosures
Additional Disclosures Net revenue, gross profit and operating cash flow are presented on a GAAP basis. Net bookings is an operating metric that EA defines as the net amount of products and services sold digitally or sold-in physically in the period. Net bookings is calculated by adding total net re
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures As a supplement to the Company’s financial measures presented in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company presents certain non-GAAP measures of financial performance, including non-GAAP operating margin, and free cash flow. These