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
Non-GAAP EBITDA
“$78 to $100”
Period
FY2024
Measure
Company-defined measure
Source
Guidance table
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
3 Fiscal Third Quarter Ending December 31, 2024 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: Three Months Ending December 31, 2024 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 business acquisition GAAP Total net revenue $1,360 to $1,410 $(10) Cost of revenue $591 to $610 $(5) $(2) $(171) Operating expenses $913 to $923 $(83) $(18) $(12) Interest and other, net $30 $(2) (Loss) income before income taxes $(174) to $(153) $(5) $85 $189 $14 Net loss $(202) to $(177) Net loss per share $(1.15) to $(1.01) Non-GAAP EBITDA $78 to $100 $(5) $85 $12 Operational metric Net Bookings $1,350 to $1,400 • Management reporting tax rate anticipated to be 18% • Share count used to calculate GAAP net loss per share is expected to be 174.5 million • Share count used to calculate management reporting diluted net income per share is expected to be 178.2 million 1) The individual components of the financial outlook may not foot to the totals, as the Company does not expect actual results for every component to be at the low end or high end of the outlook range simultaneously. Key assumptions and dependencies underlying the Company’s outlook include: a continuation of the current economic backdrop; the timely delivery of the titles included in this financial outlook; continued growth in the installed base of PlayStation 5 and Xbox Series X|S, as well as engagement on Xbox One and PlayStation 4; the ability to develop and publish products that capture market share for these current generation systems while also leveraging opportunities on PC, mobile and other platforms; factors affecting our performance on mobile, such as player acquisition costs; our ongoing focus on our live services portfolio and new game pipeline; and stable
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.