| Delaware | 001-34003 | 51-0350842 | ||||||
| (State or other jurisdiction | (Commission | (IRS Employer | ||||||
| of incorporation) | File Number) | Identification No.) | ||||||
| 110 West 44th Street, | New York, | New York | 10036 | ||||||||
| (Address of principal executive offices) | (Zip Code) | ||||||||||
| Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
| Common Stock, $0.01 par value | TTWO | NASDAQ Global Select Market | ||||||||||||
Item 2.02 |
Results of Operations and Financial Condition | ||||
Item 9.01 |
Financial Statements and Exhibits | ||||
| (d) | Exhibits: | |||||||
99.1 |
||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. | ||||||||
| (Registrant) | ||||||||
| By: | /s/ Matthew Breitman | |||||||
| Matthew Breitman | ||||||||
| Senior Vice President, General Counsel Americas & Corporate Secretary |
||||||||
Date: November 6, 2025 |
||||||||
![]() |
||||||||
| FOR IMMEDIATE RELEASE | ||||||||
| CONTACT: | |||||
| (Investor Relations) | (Corporate Press) | ||||
| Nicole Shevins | Alan Lewis | ||||
| Senior Vice President | |||||
| Investor Relations & Corporate Communications | Head of Global Corporate Communications | ||||
| Take-Two Interactive Software, Inc. | Take-Two Interactive Software, Inc. | ||||
| (646) 536-3005 | (646) 536-2983 | ||||
| Nicole.Shevins@take2games.com | Alan.Lewis@take2games.com | ||||
| Three Months Ended September 30, 2025 | ||||||||||||||||||||||||||||||||||||||||||||
| Financial Data | ||||||||||||||||||||||||||||||||||||||||||||
| in millions | Statement of Operations | Change in deferred net revenue and related cost of revenue | Stock-based compensation | Amortization of acquired intangibles | Business reorganization | Business acquisition | Other (a) |
|||||||||||||||||||||||||||||||||||||
| GAAP | ||||||||||||||||||||||||||||||||||||||||||||
| Total net revenue | $1,773.8 | 186.7 | ||||||||||||||||||||||||||||||||||||||||||
| Cost of revenue | 793.3 | 16.2 | (4.8) | (159.5) | ||||||||||||||||||||||||||||||||||||||||
| Gross profit | 980.5 | 170.5 | 4.8 | 159.5 | ||||||||||||||||||||||||||||||||||||||||
| Operating expenses | 1,078.5 | (91.1) | (15.1) | (0.1) | (3.6) | |||||||||||||||||||||||||||||||||||||||
| (Loss) income from operations | (98.0) | 170.5 | 95.9 | 174.6 | 0.1 | 3.6 | ||||||||||||||||||||||||||||||||||||||
| Interest and other, net | (17.5) | 0.1 | 1.6 | 0.7 | ||||||||||||||||||||||||||||||||||||||||
| (Loss) income before income taxes | (115.5) | 170.6 | 95.9 | 174.6 | 0.1 | 5.2 | 0.7 | |||||||||||||||||||||||||||||||||||||
| Non-GAAP | ||||||||||||||||||||||||||||||||||||||||||||
| EBITDA | 116.7 | 170.6 | 95.9 | 0.1 | 4.0 | 0.7 | ||||||||||||||||||||||||||||||||||||||
| Fiscal Year Ended March 31, 2026 | ||||||||||||||||||||||||||||||||
| Financial Data | ||||||||||||||||||||||||||||||||
| $ in millions except for per share amounts | Outlook (b) |
Change in deferred net revenue and related cost of revenue | Stock-based compensation | Amortization of acquired intangibles | Business acquisition and other (c) |
|||||||||||||||||||||||||||
| GAAP | ||||||||||||||||||||||||||||||||
| Total net revenue | $6,380 to $6,480 |
$20 | ||||||||||||||||||||||||||||||
| Cost of revenue | $2,663 to $2,685 |
$5 | $23 | $(637) | ||||||||||||||||||||||||||||
| Operating expenses | $3,984 to $4,004 |
$(356) | $(68) | |||||||||||||||||||||||||||||
| Interest and other, net | $103 | $(9) | ||||||||||||||||||||||||||||||
| (Loss) income before income taxes | $(370) to $(312) |
$15 | $333 | $705 | $9 | |||||||||||||||||||||||||||
| Net loss | $(414) to $(349) |
|||||||||||||||||||||||||||||||
| Net loss per share | $(2.25) to $(1.90) |
|||||||||||||||||||||||||||||||
| Net cash provided by operating activities | approximately $250 |
|||||||||||||||||||||||||||||||
| Capital expenditures | approximately $180 |
|||||||||||||||||||||||||||||||
| Non-GAAP | ||||||||||||||||||||||||||||||||
| EBITDA | $579 to $637 |
$15 | $333 | |||||||||||||||||||||||||||||
| Operational metric | ||||||||||||||||||||||||||||||||
| Net Bookings | $6,400 to $6,500 |
|||||||||||||||||||||||||||||||
| Three Months Ending December 31, 2025 | ||||||||||||||||||||||||||||||||
| Financial Data | ||||||||||||||||||||||||||||||||
| $ in millions except for per share amounts | Outlook (b) |
Change in deferred net revenue and related cost of revenue | Stock-based compensation | Amortization of acquired intangibles | Business acquisition | |||||||||||||||||||||||||||
| GAAP | ||||||||||||||||||||||||||||||||
| Total net revenue | $1,570 to $1,620 |
$(20) | ||||||||||||||||||||||||||||||
| Cost of revenue | $646 to $664 |
$4 | $(6) | $(159) | ||||||||||||||||||||||||||||
| Operating expenses | $980 to $990 |
$(93) | $(17) | |||||||||||||||||||||||||||||
| Interest and other, net | $24 | $(1) | ||||||||||||||||||||||||||||||
| (Loss) income before income taxes | $(80) to $(58) |
$(24) | $99 | $176 | $1 | |||||||||||||||||||||||||||
| Net (loss) income | $(90) to $(65) |
|||||||||||||||||||||||||||||||
| Net (loss) income per share | $(0.49) to $(0.35) |
|||||||||||||||||||||||||||||||
| Non-GAAP | ||||||||||||||||||||||||||||||||
| EBITDA | $155 to $178 |
$(24) | $99 | |||||||||||||||||||||||||||||
| Operational metric | ||||||||||||||||||||||||||||||||
| Net Bookings | $1,550 to $1,600 |
|||||||||||||||||||||||||||||||
| Label | Product | Platforms | Release Date | ||||||||
| 2K | WWE 2K25 | Switch 2 | July 22, 2025 | ||||||||
| 2K | Mafia: The Old Country | PS5, Xbox Series X|S, PC | August 8, 2025 | ||||||||
| 2K | NBA 2K26 | PS5, PS4, Xbox Series X|S, Xbox One, PC, Switch 2, Switch | September 5, 2025 | ||||||||
| 2K | Borderlands 4 | PS5, Xbox Series X|S, PC | September 12, 2025 | ||||||||
| Label | Product | Platforms | Release Date | ||||||||
| 2K | WWE 2K Mobile for Netflix |
iOS, Android | Fall 2025 | ||||||||
| 2K | WWE 2K26 | TBA | Q4 Fiscal 2026 | ||||||||
| Rockstar Games | Grand Theft Auto VI | PS5, Xbox Series X|S | November 19, 2026 | ||||||||
| 2K | Borderlands 4 | Switch 2 | TBA | ||||||||
| Zynga | CSR 3 | iOS, Android | TBA | ||||||||
| Zynga | Top Goal | iOS, Android | TBA | ||||||||
| Ghost Story Games | Judas | PS5, Xbox Series X|S, PC | TBA | ||||||||
| 2K | Project ETHOS | TBA | TBA | ||||||||
| 2K | BioShock next iteration |
TBA | TBA | ||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. | ||||||||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | ||||||||||||||||||||||||||
| (in millions, except per share amounts) | ||||||||||||||||||||||||||
| Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||||||||||||
| Net revenue: | ||||||||||||||||||||||||||
| Game | $ | 1,640.9 | $ | 1,233.9 | $ | 3,023.4 | $ | 2,450.6 | ||||||||||||||||||
| Advertising | 132.9 | 119.2 | 254.2 | 240.7 | ||||||||||||||||||||||
| Total net revenue | 1,773.8 | 1,353.1 | 3,277.6 | 2,691.3 | ||||||||||||||||||||||
| Cost of revenue: | ||||||||||||||||||||||||||
| Product costs | 229.3 | 212.5 | 439.7 | 415.8 | ||||||||||||||||||||||
| Game intangibles | 158.8 | 173.4 | 317.3 | 336.9 | ||||||||||||||||||||||
| Licenses | 154.4 | 97.2 | 225.3 | 152.3 | ||||||||||||||||||||||
| Software development costs and royalties | 172.1 | 64.9 | 202.2 | 141.1 | ||||||||||||||||||||||
| Internal royalties | 78.7 | 77.2 | 167.6 | 146.2 | ||||||||||||||||||||||
| Total cost of revenue | 793.3 | 625.2 | 1,352.1 | 1,192.3 | ||||||||||||||||||||||
| Gross profit | 980.5 | 727.9 | 1,925.5 | 1,499.0 | ||||||||||||||||||||||
| Selling and marketing | 536.6 | 461.3 | 945.4 | 892.7 | ||||||||||||||||||||||
| Research and development | 268.0 | 246.7 | 529.4 | 466.5 | ||||||||||||||||||||||
| General and administrative | 225.0 | 253.0 | 432.0 | 463.5 | ||||||||||||||||||||||
| Depreciation and amortization | 48.8 | 47.3 | 99.2 | 92.1 | ||||||||||||||||||||||
| Business reorganization | 0.1 | 16.8 | (4.1) | 66.3 | ||||||||||||||||||||||
| Total operating expenses | 1,078.5 | 1,025.1 | 2,001.9 | 1,981.1 | ||||||||||||||||||||||
| Loss from operations | (98.0) | (297.2) | (76.4) | (482.1) | ||||||||||||||||||||||
| Interest and other, net | (17.5) | (27.1) | (52.9) | (54.4) | ||||||||||||||||||||||
| Loss before income taxes | (115.5) | (324.3) | (129.3) | (536.5) | ||||||||||||||||||||||
| Provision for income taxes | 18.4 | 41.2 | 16.5 | 91.0 | ||||||||||||||||||||||
| Net loss | $ | (133.9) | $ | (365.5) | $ | (145.8) | $ | (627.5) | ||||||||||||||||||
| Loss per share: | ||||||||||||||||||||||||||
| Basic and diluted loss per share | $ | (0.73) | $ | (2.08) | $ | (0.80) | $ | (3.61) | ||||||||||||||||||
| Weighted average shares outstanding | ||||||||||||||||||||||||||
| Basic | 184.6 | 175.4 | 182.7 | 173.8 | ||||||||||||||||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. | ||||||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||||
| (in millions, except per share amounts) | ||||||||||||||
| September 30, 2025 | March 31, 2025 | |||||||||||||
| (Unaudited) | ||||||||||||||
| ASSETS | ||||||||||||||
| Current assets: | ||||||||||||||
| Cash and cash equivalents | $ | 1,869.1 | $ | 1,456.1 | ||||||||||
| Short-term investments | 246.4 | 9.4 | ||||||||||||
| Restricted cash and cash equivalents | 14.2 | 14.9 | ||||||||||||
| Accounts receivable, net of allowances of $1.8 and $1.6 at September 30, 2025 and March 31, 2025, respectively | 1,165.4 | 771.1 | ||||||||||||
| Software development costs and licenses | 79.6 | 80.8 | ||||||||||||
| Contract assets | 84.5 | 80.8 | ||||||||||||
| Prepaid expenses and other | 355.7 | 402.8 | ||||||||||||
| Total current assets | 3,814.9 | 2,815.9 | ||||||||||||
| Fixed assets, net | 424.1 | 443.8 | ||||||||||||
| Right-of-use assets | 334.2 | 326.1 | ||||||||||||
| Software development costs and licenses, net of current portion | 2,101.8 | 1,892.6 | ||||||||||||
| Goodwill | 1,064.1 | 1,057.3 | ||||||||||||
| Other intangibles, net | 2,014.8 | 2,336.0 | ||||||||||||
| Long-term restricted cash and cash equivalents | 77.7 | 88.2 | ||||||||||||
| Other assets | 248.7 | 220.8 | ||||||||||||
| Total assets | $ | 10,080.3 | $ | 9,180.7 | ||||||||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Accounts payable | $ | 213.5 | $ | 194.7 | ||||||||||
| Accrued expenses and other current liabilities | 1,227.0 | 1,127.6 | ||||||||||||
| Deferred revenue | 1,250.5 | 1,083.5 | ||||||||||||
| Lease liabilities | 66.5 | 61.5 | ||||||||||||
| Short-term debt, net | 549.3 | 1,148.5 | ||||||||||||
| Total current liabilities | 3,306.8 | 3,615.8 | ||||||||||||
| Long-term debt, net | 2,517.3 | 2,512.6 | ||||||||||||
| Non-current deferred revenue | 17.6 | 25.4 | ||||||||||||
| Non-current lease liabilities | 378.6 | 383.3 | ||||||||||||
| Non-current software development royalties | 82.3 | 93.6 | ||||||||||||
| Deferred tax liabilities, net | 222.7 | 259.6 | ||||||||||||
| Other long-term liabilities | 123.1 | 152.7 | ||||||||||||
| Total liabilities | $ | 6,648.4 | $ | 7,043.0 | ||||||||||
| Stockholders' equity: | ||||||||||||||
| Preferred stock, $0.01 par value, 5.0 shares authorized; no shares issued and outstanding at September 30, 2025 and March 31, 2025 | — | — | ||||||||||||
Common stock, $0.01 par value, 300.0 and 300.0 shares authorized; 208.4 and 200.8 shares issued and 184.7 and 177.1 outstanding at September 30, 2025 and March 31, 2025, respectively |
2.1 | 2.0 | ||||||||||||
| Additional paid-in capital | 11,707.0 | 10,312.0 | ||||||||||||
Treasury stock, at cost; 23.7 and 23.7 common shares at September 30, 2025 and March 31, 2025, respectively |
(1,020.6) | (1,020.6) | ||||||||||||
| Accumulated deficit | (7,204.6) | (7,058.8) | ||||||||||||
| Accumulated other comprehensive loss | (52.0) | (96.9) | ||||||||||||
| Total stockholders' equity | $ | 3,431.9 | $ | 2,137.7 | ||||||||||
| Total liabilities and stockholders' equity | $ | 10,080.3 | $ | 9,180.7 | ||||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. | ||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | ||||||||||||||
| (in millions) | ||||||||||||||
| Six Months Ended September 30, | ||||||||||||||
| 2025 | 2024 | |||||||||||||
| Operating activities: | ||||||||||||||
| Net loss | $ | (145.8) | $ | (627.5) | ||||||||||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||||||||
| Amortization and impairment of software development costs and licenses | 191.7 | 139.6 | ||||||||||||
| Stock-based compensation | 136.6 | 161.5 | ||||||||||||
| Noncash lease expense | 26.3 | 31.3 | ||||||||||||
| Amortization and impairment of intangibles | 349.5 | 374.1 | ||||||||||||
| Depreciation | 82.9 | 74.0 | ||||||||||||
| Interest expense | 76.3 | 80.4 | ||||||||||||
| Fair value adjustments | 11.0 | 4.3 | ||||||||||||
| Other, net | 10.5 | 5.9 | ||||||||||||
| Changes in assets and liabilities, net of effect from purchases of businesses: | ||||||||||||||
| Accounts receivable | (393.1) | (169.6) | ||||||||||||
| Software development costs and licenses | (345.0) | (362.8) | ||||||||||||
| Prepaid expenses and other current and other non-current assets | (13.1) | 22.1 | ||||||||||||
| Deferred revenue | 156.2 | (4.6) | ||||||||||||
| Accounts payable, accrued expenses and other liabilities | (60.3) | (48.1) | ||||||||||||
| Net cash provided by (used in) operating activities | 83.7 | (319.4) | ||||||||||||
| Investing activities: | ||||||||||||||
| Change in bank time deposits | (237.0) | 18.5 | ||||||||||||
| Purchases of fixed assets | (57.0) | (71.9) | ||||||||||||
| Purchases of long-term investments | (6.6) | (14.7) | ||||||||||||
| Asset acquisitions | (11.4) | (9.3) | ||||||||||||
| Business acquisitions | (2.0) | 9.4 | ||||||||||||
| Net cash used in investing activities | (314.0) | (68.0) | ||||||||||||
| Financing activities: | ||||||||||||||
| Tax payment related to net share settlements on restricted stock awards | (1.6) | — | ||||||||||||
| Issuance of common stock | 1,219.6 | 23.8 | ||||||||||||
| Payment for settlement of convertible notes | — | (8.3) | ||||||||||||
| Proceeds from issuance of debt | — | 598.9 | ||||||||||||
| Cost of debt | — | (5.4) | ||||||||||||
| Repayment of debt | (600.0) | — | ||||||||||||
| Payment of contingent earn-out consideration | — | (12.0) | ||||||||||||
| Net cash provided by financing activities | 618.0 | 597.0 | ||||||||||||
| Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents | 14.1 | 8.0 | ||||||||||||
| Net change in cash, cash equivalents, and restricted cash and cash equivalents | 401.8 | 217.6 | ||||||||||||
| Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year (1) | 1,559.2 | 1,102.0 | ||||||||||||
| Cash, cash equivalents, and restricted cash and cash equivalents, end of period (1) | $ | 1,961.0 | $ | 1,319.6 | ||||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES | ||||||||||||||||||||||||||
| Net Revenue and Net Bookings by Geographic Region, Distribution Channel, and Platform Mix | ||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 |
Three Months Ended September 30, 2024 |
|||||||||||||||||||||||||
| Amount | % of total | Amount | % of total | |||||||||||||||||||||||
| Net revenue by geographic region | ||||||||||||||||||||||||||
| United States | $ | 1,036.1 | 58 | % | $ | 814.5 | 60 | % | ||||||||||||||||||
| International | 737.7 | 42 | % | 538.6 | 40 | % | ||||||||||||||||||||
| Total Net revenue | $ | 1,773.8 | 100 | % | $ | 1,353.1 | 100 | % | ||||||||||||||||||
| Net Bookings by geographic region | ||||||||||||||||||||||||||
| United States | $ | 1,188.6 | 61 | % | $ | 914.4 | 62 | % | ||||||||||||||||||
| International | 771.9 | 39 | % | 560.5 | 38 | % | ||||||||||||||||||||
| Total Net Bookings | $ | 1,960.5 | 100 | % | $ | 1,474.9 | 100 | % | ||||||||||||||||||
| Three Months Ended September 30, 2025 |
Three Months Ended September 30, 2024 |
|||||||||||||||||||||||||
| Amount | % of total | Amount | % of total | |||||||||||||||||||||||
| Net revenue by distribution channel | ||||||||||||||||||||||||||
| Digital online | $ | 1,693.1 | 95 | % | $ | 1,300.0 | 96 | % | ||||||||||||||||||
| Physical retail and other | 80.7 | 5 | % | 53.1 | 4 | % | ||||||||||||||||||||
| Total Net revenue | $ | 1,773.8 | 100 | % | $ | 1,353.1 | 100 | % | ||||||||||||||||||
| Net Bookings by distribution channel | ||||||||||||||||||||||||||
| Digital online | $ | 1,871.2 | 95 | % | $ | 1,417.2 | 96 | % | ||||||||||||||||||
| Physical retail and other | 89.3 | 5 | % | 57.7 | 4 | % | ||||||||||||||||||||
| Total Net Bookings | $ | 1,960.5 | 100 | % | $ | 1,474.9 | 100 | % | ||||||||||||||||||
| Three Months Ended September 30, 2025 |
Three Months Ended September 30, 2024 |
|||||||||||||||||||||||||
| Amount | % of total | Amount | % of total | |||||||||||||||||||||||
| Net revenue by platform | ||||||||||||||||||||||||||
| Mobile | $ | 821.6 | 46 | % | $ | 740.2 | 55 | % | ||||||||||||||||||
| Console | 720.0 | 41 | % | 491.1 | 36 | % | ||||||||||||||||||||
| PC and other | 232.2 | 13 | % | 121.8 | 9 | % | ||||||||||||||||||||
| Total Net revenue | $ | 1,773.8 | 100 | % | $ | 1,353.1 | 100 | % | ||||||||||||||||||
| Net Bookings by platform | ||||||||||||||||||||||||||
| Mobile | $ | 818.1 | 42 | % | $ | 723.0 | 49 | % | ||||||||||||||||||
| Console | 907.9 | 46 | % | 622.3 | 42 | % | ||||||||||||||||||||
| PC and other | 234.5 | 12 | % | 129.6 | 9 | % | ||||||||||||||||||||
| Total Net Bookings | $ | 1,960.5 | 100 | % | $ | 1,474.9 | 100 | % | ||||||||||||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES | ||||||||||||||||||||||||||
| Net Revenue and Net Bookings by Geographic Region, Distribution Channel, and Platform Mix | ||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||
| Six Months Ended September 30, 2025 |
Six Months Ended September 30, 2024 |
|||||||||||||||||||||||||
| Amount | % of total | Amount | % of total | |||||||||||||||||||||||
| Net revenue by geographic region | ||||||||||||||||||||||||||
| United States | $ | 1,936.5 | 59 | % | $ | 1,635.0 | 61 | % | ||||||||||||||||||
| International | 1,341.1 | 41 | % | 1,056.3 | 39 | % | ||||||||||||||||||||
| Total Net revenue | $ | 3,277.6 | 100 | % | $ | 2,691.3 | 100 | % | ||||||||||||||||||
| Net Bookings by geographic region | ||||||||||||||||||||||||||
| United States | $ | 2,025.2 | 60 | % | $ | 1,642.9 | 61 | % | ||||||||||||||||||
| International | 1,358.4 | 40 | % | 1,050.2 | 39 | % | ||||||||||||||||||||
| Total Net Bookings | $ | 3,383.6 | 100 | % | $ | 2,693.1 | 100 | % | ||||||||||||||||||
| Six Months Ended September 30, 2025 |
Six Months Ended September 30, 2024 |
|||||||||||||||||||||||||
| Amount | % of total | Amount | % of total | |||||||||||||||||||||||
| Net revenue by distribution channel | ||||||||||||||||||||||||||
| Digital online | $ | 3,169.7 | 97 | % | $ | 2,595.5 | 96 | % | ||||||||||||||||||
| Physical retail and other | 107.9 | 3 | % | 95.8 | 4 | % | ||||||||||||||||||||
| Total Net revenue | $ | 3,277.6 | 100 | % | $ | 2,691.3 | 100 | % | ||||||||||||||||||
| Net Bookings by distribution channel | ||||||||||||||||||||||||||
| Digital online | $ | 3,276.3 | 97 | % | $ | 2,604.5 | 97 | % | ||||||||||||||||||
| Physical retail and other | 107.3 | 3 | % | 88.6 | 3 | % | ||||||||||||||||||||
| Total Net Bookings | $ | 3,383.6 | 100 | % | $ | 2,693.1 | 100 | % | ||||||||||||||||||
| Six Months Ended September 30, 2025 |
Six Months Ended September 30, 2024 |
|||||||||||||||||||||||||
| Amount | % of total | Amount | % of total | |||||||||||||||||||||||
| Net revenue by platform | ||||||||||||||||||||||||||
| Mobile | $ | 1,623.3 | 50 | % | $ | 1,462.7 | 55 | % | ||||||||||||||||||
| Console | 1,270.6 | 38 | % | 1,000.0 | 37 | % | ||||||||||||||||||||
| PC and other | 383.7 | 12 | % | 228.6 | 8 | % | ||||||||||||||||||||
| Total Net revenue | $ | 3,277.6 | 100 | % | $ | 2,691.3 | 100 | % | ||||||||||||||||||
| Net Bookings by platform | ||||||||||||||||||||||||||
| Mobile | $ | 1,610.9 | 47 | % | $ | 1,432.4 | 53 | % | ||||||||||||||||||
| Console | 1,382.3 | 41 | % | 1,027.7 | 38 | % | ||||||||||||||||||||
| PC and other | 390.4 | 12 | % | 233.0 | 9 | % | ||||||||||||||||||||
| Total Net Bookings | $ | 3,383.6 | 100.0 | % | $ | 2,693.1 | 100 | % | ||||||||||||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES | ||||||||||||||||||||||||||||||||||||||
| ADDITIONAL DATA | ||||||||||||||||||||||||||||||||||||||
| (in millions) | ||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | Net revenue | Cost of revenue- Product costs | Cost of revenue- Game intangibles | Cost of revenue- Licenses | Cost of revenue- Software development costs and royalties | Cost of revenue- Internal royalties | ||||||||||||||||||||||||||||||||
| As reported | $ | 1,773.8 | $ | 229.3 | $ | 158.8 | $ | 154.4 | $ | 172.1 | $ | 78.7 | ||||||||||||||||||||||||||
| Net effect from deferred revenue and related cost of revenue | 186.7 | 1.5 | 0.4 | 14.3 | ||||||||||||||||||||||||||||||||||
| Stock-based compensation | (4.8) | |||||||||||||||||||||||||||||||||||||
| Amortization of acquired intangibles | (0.7) | (158.8) | ||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2025 | Selling and marketing | Research and development | General and administrative | Depreciation and amortization | Business reorganization | Interest and other, net | ||||||||||||||||||||||||||||||||
| As reported | $ | 536.6 | $ | 268.0 | $ | 225.0 | $ | 48.8 | 0.1 | $ | (17.5) | |||||||||||||||||||||||||||
| Net effect from deferred revenue and related cost of revenue | 0.1 | |||||||||||||||||||||||||||||||||||||
| Stock-based compensation | (25.2) | (25.1) | (40.8) | |||||||||||||||||||||||||||||||||||
| Amortization of acquired intangibles | (7.2) | (7.9) | ||||||||||||||||||||||||||||||||||||
| Acquisition related expenses | (0.3) | (3.3) | 1.6 | |||||||||||||||||||||||||||||||||||
| Impact of business reorganization | (0.1) | |||||||||||||||||||||||||||||||||||||
| Other | 0.7 | |||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | Net revenue | Cost of revenue - Product costs | Cost of revenue -Game intangibles | Cost of revenue- Licenses | Cost of revenue- Software development costs and royalties | Cost of revenue- Internal royalties | ||||||||||||||||||||||||||||||||
| As reported | $ | 1,353.1 | $ | 212.5 | $ | 173.4 | $ | 97.2 | $ | 64.9 | $ | 77.2 | ||||||||||||||||||||||||||
| Net effect from deferred revenue and related cost of revenue | 121.9 | 0.8 | 0.9 | 9.8 | ||||||||||||||||||||||||||||||||||
| Stock-based compensation | (3.1) | |||||||||||||||||||||||||||||||||||||
| Amortization and impairment of acquired intangibles | (0.7) | (173.4) | ||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2024 | Selling and marketing | Research and development | General and administrative | Depreciation and amortization | Business reorganization | Interest and other, net | ||||||||||||||||||||||||||||||||
| As reported | $ | 461.3 | $ | 246.7 | $ | 253.0 | $ | 47.3 | $ | 16.8 | $ | (27.1) | ||||||||||||||||||||||||||
| Net effect from deferred revenue and related cost of revenue | (1.5) | |||||||||||||||||||||||||||||||||||||
| Stock-based compensation | (24.5) | (26.2) | (32.4) | |||||||||||||||||||||||||||||||||||
| Amortization and impairment of acquired intangibles | (1.5) | (7.2) | (9.2) | |||||||||||||||||||||||||||||||||||
| Acquisition related expenses | (0.1) | (0.7) | (52.9) | 2.6 | ||||||||||||||||||||||||||||||||||
| Impact of business reorganization | (16.8) | |||||||||||||||||||||||||||||||||||||
| Other | 6.0 | |||||||||||||||||||||||||||||||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES | |||||||||||||||||||||||||||||||||||
| ADDITIONAL DATA | |||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||
| Six Months Ended September 30, 2025 | Net revenue | Cost of revenue - Product costs | Cost of revenue - Game intangibles | Cost of revenue- Licenses | Cost of revenue- Software development costs and royalties | Cost of revenue- Internal royalties | |||||||||||||||||||||||||||||
| As reported | $ | 3,277.6 | $ | 439.7 | $ | 317.3 | $ | 225.3 | $ | 202.2 | $ | 167.6 | |||||||||||||||||||||||
| Net effect from deferred revenue and related cost of revenue | 106.1 | (2.0) | 0.6 | 6.5 | |||||||||||||||||||||||||||||||
| Stock-based compensation | 36.2 | ||||||||||||||||||||||||||||||||||
| Amortization of acquired intangibles | (1.5) | (317.3) | |||||||||||||||||||||||||||||||||
| Six Months Ended September 30, 2025 | Selling and marketing | Research and development | General and administrative | Depreciation and amortization | Business reorganization | Interest and other, net | |||||||||||||||||||||||||||||
| As reported | $ | 945.4 | $ | 529.4 | $ | 432.0 | $ | 99.2 | $ | (4.1) | $ | (52.9) | |||||||||||||||||||||||
| Net effect from deferred revenue and related cost of revenue | 0.5 | ||||||||||||||||||||||||||||||||||
| Stock-based compensation | (49.6) | (46.2) | (77.0) | ||||||||||||||||||||||||||||||||
| Amortization of acquired intangibles | (14.3) | (16.3) | |||||||||||||||||||||||||||||||||
| Impact of business reorganization | 4.1 | ||||||||||||||||||||||||||||||||||
| Acquisition related expenses | (0.6) | (6.9) | 2.3 | ||||||||||||||||||||||||||||||||
| Other | 3.3 | ||||||||||||||||||||||||||||||||||
| Six Months Ended September 30, 2024 | Net revenue | Cost of revenue - Product costs | Cost of revenue - Game intangibles | Cost of revenue - Licenses | Cost of revenue- Software development costs and royalties | Cost of revenue - Internal royalties | |||||||||||||||||||||||||||||
| As reported | $ | 2,691.3 | $ | 415.8 | $ | 336.9 | $ | 152.3 | $ | 141.1 | $ | 146.2 | |||||||||||||||||||||||
| Net effect from deferred revenue and related cost of revenue | 1.8 | (2.4) | 1.6 | 1.2 | |||||||||||||||||||||||||||||||
| Stock-based compensation | (6.0) | ||||||||||||||||||||||||||||||||||
| Amortization and impairment of acquired intangibles | (1.6) | (336.9) | |||||||||||||||||||||||||||||||||
| Acquisition related expenses | |||||||||||||||||||||||||||||||||||
| Six Months Ended September 30, 2024 | Selling and marketing | Research and development | General and administrative | Depreciation and amortization | Business reorganization | Interest and other, net | |||||||||||||||||||||||||||||
| As reported | $ | 892.7 | $ | 466.5 | $ | 463.5 | $ | 92.1 | $ | 66.3 | $ | (54.4) | |||||||||||||||||||||||
| Net effect from deferred revenue and related cost of revenue | |||||||||||||||||||||||||||||||||||
| Stock-based compensation | (45.7) | (49.4) | (60.4) | ||||||||||||||||||||||||||||||||
| Amortization and impairment of acquired intangibles | (3.1) | (14.3) | (18.2) | ||||||||||||||||||||||||||||||||
| Impact of business reorganization | (66.3) | ||||||||||||||||||||||||||||||||||
| Acquisition related expenses | (0.1) | (0.7) | (69.6) | 5.2 | |||||||||||||||||||||||||||||||
| Other | 10.4 | ||||||||||||||||||||||||||||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES | |||||||||||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP MEASURE | |||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||
| Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||||||
| Net loss | $ | (133.9) | $ | (365.5) | $ | (145.8) | $ | (627.5) | |||||||||||||||
| Provision for income taxes | 18.4 | 41.2 | 16.5 | 91.0 | |||||||||||||||||||
| Interest expense | 16.7 | 18.7 | 39.0 | 37.9 | |||||||||||||||||||
| Depreciation and amortization | 48.8 | 47.3 | 99.2 | 92.1 | |||||||||||||||||||
| Amortization of acquired intangibles | 166.7 | 182.8 | 333.2 | 356.0 | |||||||||||||||||||
| EBITDA | $ | 116.7 | $ | (75.5) | $ | 342.1 | $ | (50.5) | |||||||||||||||
| Outlook | ||||||||
| Fiscal Year Ended March 31, 2026 | ||||||||
| Net loss | $(414) to $(349) |
|||||||
| Provision for income taxes | $44 to $37 |
|||||||
| Interest expense | $75 | |||||||
| Depreciation | $169 | |||||||
| Amortization of acquired intangibles | $705 |
|||||||
| EBITDA | $579 to $637 |
|||||||
| Outlook | ||||||||
| Three Months Ended December 31, 2025 | ||||||||
| Net loss | $(90) to $(65) |
|||||||
| Provision for income taxes | $9 to $7 |
|||||||
| Interest expense | $18 | |||||||
| Depreciation | $42 | |||||||
| Amortization of acquired intangibles | $176 | |||||||
| EBITDA | $155 to $178 |
|||||||