17 slides from Take-two Interactive Software's earnings presentation, Feb 6, 2025
Slide 1: Take-Two Interactive Software Third Quarter Fiscal 2025 Results & Guidance Summary
TAKE-TWO INTERACTIVE SOFTWARE, INC. (NASDAQ: TTWO) » THIRD 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: Q3 FY2025 Results Summary: GAAP
Q3 FY2025 RESULTS SUMMARY: GAAP FINANCIAL SUMMARY (¢$ in millions, except EPS) Q3 ACTUAL GUIDANCE GAAP Net Revenue $1,360 $1,360 TO $1,410 Operating Expenses $892 $913 TO $923 GAAP Net Loss $125) $(202) TO $(177) GAAP EPS $(0.71) $(1.15) TO $(1.00)
Slide 4: Q3 FY2025 Results Summary: Select Management and Operating Results
Q3 FY2025 RESULTS SUMMARY: SELECT MANAGEMENT AND OPERATING RESULTS SELECT FINANC DATA ($ in m * Q3 Net Bookings were within our guidance range, as outstanding performance in NBA 2K helped offset moderation in some of our mobile franchises Q@3 * RCS rose 9% for the period, which was in line with our
Slide 5: Net Revenue and Net Bookings
NET REVENUE AND NET BOOKINGS GAAP Net Revenue $ in Millions $5,570 - $1,360 $5,350 $5,350 yee @3 FY24 @3 FY25 FY23 FY24 FY25E m™ Recurrent Consumer Spending _™ Physical & Other ™ Digital ™ Recurrent Consumer Spending — ™ Physical & Other —_m Digital Net Bookings (Operationa $ in Millions Metric $5,5
Slide 6: Cash Flow
CASH FLOW $ in Millions Net Cash From Opera’ $204 $96 $us LJ $142 $140 1 ZZ ee 9 Months FY24 9 Months FY25 FY23 -$16FY24 FY25E -$200 ~$324 Net Cash From Operating Activities = Capital Expenditures Net Cash From Operating Activities Adjusted Unrestricted Operating Cash Flow (Non-GAAP) $ in Millions $
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 Operating Expenses $3,772 TO $3,792 NO CHANGE GAAP Net Loss $(788) TO $(729) PREVIOUSLY: $(839) TO $(775) GAAP EPS $(4.50) TO $(4.17) PREVI
Slide 8: FY 2025 Guidance: Select Financial Data
FY 2025 GUIDANCE: SELECT FINANCIAL DATA FISCAL YEAR 2025 G ANCE ($ in millions, except EPS) Fiscal Year Ending March 31, 2025 Financial Data eterrea ot ited cost ot Stoc Aicquredesorgantsat i mitions except for per share a “sonar our Fy 2025 FY 2025 Ca seats wanes ve oo term CURRENT GUIDANCE PRIOR G
Slide 9: Q4 FY2025 Guidance: GAAP
@4 FY2025 GUIDANCE: GAAP @4 FISCAL 2025 GUIDANCE (§ in millions, except EPS) @Q4 FY25 GUIDANCE GAAP Net Revenue $1,519 TO $1,619 Operating Expenses $899 TO $919 GAAP Net Loss $(35) TO $22 GAAP EPS $(0.20) TO $0.13
Slide 10: Q4 FY2025 Guidance: Select Financial Data
Q@4 FY2025 GUIDANCE: SELECT FINANCIAL DATA @4 FISCAL 2025 G ANCE ($ in millions, except EPS) Three Months Ending March 31, 2025 Financial Data Thenge in deferred net revenue and “Amortization of in Telatedcostol ———Stockased acquired Business @4 FY2025 GUIDANCE ‘Sin mitions except for per share amou
Slide 11: FY25-FY27 Pipeline Details
FY25-FY27 PIPELINE DETAILS FY 2025 TITLES OFFICALLY ANNOUNCED TO-DATE FY 2027* Top Spin 2K25 (2K) - Launched April 26, 2024 NBA 2K25 (2K) - Launched September 6, 2024 Sid Meier's Civilization 7: Launching February 11, 2025 Immersive Core * PGA TOUR 2k25 (2K) - Launching February 28, 2025 * WWE 2k25
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). MOBILE Any title released on a mobile platform. Our title
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
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 December 31, Nine Months Ended December 31, 2024 2023 2024 2023 Net loss $ (125.2) $ (91.6) $ (752.7) $ (841.2) (Benefit from) p
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 Cin millions) Outlook Fiscal Year Ending March 31, 2025 Net loss ‘S(788) to $(729) Provision for income taxes $66 to $61 Interest expense $83 Depreciation $155 A
Slide 17: Thank You
THANK YOU TAKE-TWO INTERACTIVE