17 slides from Take-two Interactive Software's earnings presentation, Nov 6, 2024
Slide 1: Take-Two Interactive Second Quarter Fiscal 2025 Results & Guidance Summary
TAKE-TWO INTERACTIVE SOFTWARE, INC. (NASDAQ: TTWO) » SECOND QUARTER FISCAL 2025 TAKE-TWO INTERACTIVE 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: Q2 FY2025 Results Summary: GAAP
Q2 FY2025 RESULTS SUMMARY: GAAP FINANCIAL SUMMARY (¢$ in millions, except EPS) Q2 ACTUAL GUIDANCE GAAP Net Revenue $1,353 $1,290 TO $1,340 Operating Expenses $1,025 $982 TO $992 GAAP Net Loss $66) $(400) TO $(373) GAAP EPS $(2.08) $(2.30) TO $(2.15)
Slide 4: Q2 FY2025 Results Summary: Select Management and Operating Results
Q2 FY2025 RESULTS SUMMARY: SELECT MANAGEMENT AND OPERATING RESULTS SELECT FINANC DATA ($ in m * Q2 Net Bookings were $1.47 billion, which was at the top of our guidance range, driven by strength in the Grand Theft Auto and Borderlands franchises Q2 + RCS rose 6% for the period, which was slightly ab
Slide 5: Net Revenue and Net Bookings
NET REVENUE AND NET BOOKINGS GAAP Net Revenue $ in Millions $5,570 - $1,353 $5,350 $5,350 IY @2 FY24 @2 FY25 FY23 FY24 FY25E m™ Recurrent Consumer Spending ™ Physical & Other ™ Digital m™ Recurrent Consumer Spending ™ Physical & Other Digital Net Bookings (Operationa $ in Millions $1,445 $1,475 Metr
Slide 6: Cash Flow
CASH FLOW Net Cash From Operating Activities $204 $ in Millions $142 $140 $70 $60 $72 — | " FY23 6 Months FY24 6 Months FY25 -$16FY24 FY25E -$200 -$319 Net Cash From Operating Activities = Capital Expenditures Net Cash From Operating Activities Adjusted Unrestricted Operating Cash Flow (Non-GAAP) $
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 PREVIOUSLY: $3,695 TO $3,715 GAAP Net Loss $(839) TO $(775) PREVIOUSLY: $(757) TO $(690) GAAP EPS $(4.8
Slide 8: FY 2025 Guidance: Select Financial Data
FY 2025 GUIDANCE: SELECT FINANCIAL DATA FISCAL YEAR 2025 G ANCE ($ in millions, except EPS) Fiscal Year Ending March 31. 2025 FY 2025 CURRENT GUIDANCE PRIOR GUIDANCE ($ IN MILLIONS) FY 2025 ($ IN MILLIONS) Change i revenue and ‘ana impairment Net Bookings Recurrent Consumer Spending Growth (RCS) $5,
Slide 9: Q3 FY2025 Guidance: GAAP
Q3 FY2025 GUIDANCE: GAAP @3 FISCAL 2025 GUIDANCE ($ in millions, except EPS) Q3 FY25 GUIDANCE GAAP Net Revenue $1,360 TO $1,410 Operating Expenses $913 TO $923 GAAP Net Loss $(202) TO $(177) GAAP EPS $(1.15) TO $(1.00)
Slide 10: Q3 FY2025 Guidance: Select Financial Data
Q3 FY2025 GUIDANCE: SELECT FINANCIAL DATA Q3 2025 GUIDANCE ($ in millions, except EPS) “Three Months Ending December 34, 2024 Financial Data ‘Change in deferred Business at Severus and reorganisation Q3 FY2025 GUIDANCE related cost of Stock-based Amortization of and business $ in millions except for
Slide 11: FY25-FY27 Pipeline Details
FY25-FY27 PIPELINE DETAILS FY 2025 FY 2027* Immersive Core 22 Mobile** (Currently scheduled for worldwide leunch) ® New iterations of Previously 5 Released Titles TITLES OFFICALLY ANNOUNCED TO-DATE + Top Spin 2K25 (2K) - Launched April 26, 2024 ‘+ NBA 2K25 (2K) - Launched September 6, 2024 + Sid Mei
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: Operating Cash Flow
Net cash from operating act RECONCILIATION OF GAAP TO NON-GAAP MEASURE TAKE-TWO INTERACTIVE SOFTWARE, INC. AND SUBSIDIARIES RECONCILIATION OF GAAP TO NON-GAAP MEASURE es Net change in Restricted cash” Adjusted Unrestricted Operating Cash Flow Restricted cash beginning of period Restricted cash end o
Slide 15: Reconciliation of GAAP to Non-GAAP Measure: EBITDA
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 September 30, Months Ended September 30, 2024 2023 2024 2023 Net loss 3 (365.5) § (643.6) § (0275) § (749.6) Provision for (bene
Slide 16: Reconciliation of GAAP to Non-GAAP Measure: Outlook
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