HighGravityDataTake-Two Interactive — Nov 6, 2024 release
Fiscal 2025 second-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001628280-24-045720
Showing in the filing
Management reporting tax rate
“18%”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 34
Net Bookings for FY2025
“$5.55 to $5.65 billion”
Management reporting tax rate for FY2025
“18%”
Management reporting tax rate for FY2024
“18%”
GAAP Total net revenue for FY2025
“$5,570 to $5,670”
Cost of revenue for FY2025
“$2,397 to $2,422”
Operating expenses for FY2025
“$3,772 to $3,792”
Interest and other, net for FY2025
“$120”
(Loss) income before income taxes for FY2025
“$(719) to $(664)”
Net loss for FY2025
“$(839) to $(775)”
Net loss per share for FY2025
“$(4.80) to $(4.43)”
Net cash provided by operating activities for FY2025
“approximately $(200)”
Capital expenditures for FY2025
“approximately $140”
Non-GAAP EBITDA for FY2025
“$282 to $336”
Adjusted Unrestricted Operating Cash Flow for FY2025
“approximately $(150)”
Net Bookings (Operational metric) for FY2025
“$5,550 to $5,650”
Share count used to calculate GAAP net loss … for FY2025
“174.9 million”
Share count used to calculate management rep… for FY2025
“177.4 million”
GAAP Total net revenue for FY2024
“$1,360 to $1,410”
Cost of revenue for FY2024
“$591 to $610”
Operating expenses for FY2024
“$913 to $923”
Interest and other, net for FY2024
“$30”
(Loss) income before income taxes for FY2024
“$(174) to $(153)”
Net loss for FY2024
“$(202) to $(177)”
Net loss per share for FY2024
“$(1.15) to $(1.01)”
Non-GAAP EBITDA for FY2024
“$78 to $100”
Net Bookings (Operational metric) for FY2024
“$1,350 to $1,400”
Share count used to calculate GAAP net loss … for FY2024
“174.5 million”
Share count used to calculate management rep… for FY2024
“178.2 million”
Provision for income taxes for FY2025
“$120 to $110”
Interest expense for FY2025
“$98”
Depreciation for FY2025
“$151”
Provision for income taxes for FY2024
“$27 to $24”
Interest expense for FY2024
“$26”
Depreciation for FY2024
“$38”
Exhibit 99.1 · the passage around this item
… earlier in the release
Second Quarter Fiscal 2025 Financial Results The following data is used internally by the Company’s management and Board of Directors to adjust the Company’s GAAP and Non-GAAP financial results in order to facilitate comparison of its operating performance between periods and to better understand its core business: Three Months Ended September 30, 2024 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 $1,353.1 121.9 Cost of revenue 625.2 11.5 (3.1) (174.1) Gross profit 727.9 110.4 3.1 174.1 Operating expenses 1,025.1 (83.1) (17.9) (16.8) (53.7) (Loss) income from operations (297.2) 110.4 86.2 192.0 16.8 53.7 Interest and other, net (25.9) (1.5) 2.2 5.2 (Loss) gain on fair value adjustments, net (1.2) 0.4 0.8 (Loss) income before income taxes (324.3) 108.9 86.2 192.0 16.8 56.3 6.0 Non-GAAP EBITDA (75.5) 110.4 86.2 16.8 52.7 6.0 Note: For management reporting purposes, the table above assumes a management tax rate of 18% and a fully diluted share count of 177.1 million in order to calculate diluted net income per share. (a) Other includes adjustments for (i) the revaluation of the Turkish Lira against the U.S. Dollar and (ii) fair value adjustments related to certain equity investments. 2 Outlook for Fiscal Year 2025 Take-Two is revising its outlook for the fiscal year ending March 31, 2025 and providing its initial outlook for its fiscal third quarter ending December 31, 2024: Fiscal Year Ending March 31, 2025 The Company is also providing selected data, which is used internally by its management and Board of Directors to adjust the Company’s GAAP and Non-GAAP financial outlook in order to facilitate comparison of its operating performance between periods and to better understand its core business and future outlook: Fiscal Year Ending March 31, 2025 Financial Data $ in millions except for per share amounts Outlook (1) Change in deferred net revenue and related cost of revenue Stock-based compensation Amortization of acquired intangibles Business reorganization and other (a) GAAP Total net revenue $5,570 to $5,670 $(20) Cost of revenue $2,397 to $2,422 $10 $(14) $(681) Operating expenses $3,772
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.