HighGravityDataTake-Two Interactive — Feb 6, 2025 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001628280-25-004262
Showing in the filing
Management reporting tax rate
“18%”
Period
FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 26
Net Bookings for FY2025
“$5.55 to $5.65 billion”
Management reporting tax rate for FY2025
“18%”
GAAP Total net revenue for FY2025
“$5,570 to $5,670”
Cost of revenue for FY2025
“$2,413 to $2,349”
Operating expenses for FY2025
“$3,772 to $3,792”
Interest and other, net for FY2025
“$107”
(Loss) income before income taxes for FY2025
“$(722) to $(668)”
Net loss for FY2025
“$(788) to $(729)”
Net loss per share for FY2025
“$(4.50) to $(4.17)”
Net cash provided by operating activities for FY2025
“approximately $(200)”
Capital expenditures for FY2025
“approximately $140”
Non-GAAP EBITDA for FY2025
“$263 to $317”
Adjusted Unrestricted Operating Cash Flow for FY2025
“approximately $(150)”
Net Bookings (Operational metric) for FY2025
“$5,550 to $5,650”
Share count used to calculate GAAP net loss … for FY2025
“175.0 million”
Net (loss) income for FY2025
“$(35) to $22”
Net (loss) income per share for FY2025
“$(0.20) to $0.13”
Share count used to calculate management rep… for FY2025
“177.5 million”
Share count used to calculate GAAP and manag… for FY2025
“179.1 million”
Provision for income taxes for FY2025
“$66 to $61”
Interest expense for FY2025
“$83”
Depreciation for FY2025
“$155”
Provision for (benefit from) income taxes for FY2025
“$2 to $(1)”
Provision for (benefit from) income taxes for FY2024
“$2 to $(1)”
Interest expense for FY2024
“$32”
Depreciation for FY2024
“$40”
Exhibit 99.1 · the passage around this item
… earlier in the release
Third 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 December 31, 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 $1,359.8 13.7 Cost of revenue 599.9 1.1 (2.6) (171.9) Gross profit 759.9 12.5 2.6 171.9 Operating expenses 892.0 (80.3) (17.4) (23.1) 6.8 (Loss) income from operations (132.1) 12.5 82.9 189.2 23.1 (6.8) Interest and other, net (21.0) 2.8 2.2 4.3 (Loss) gain on fair value adjustments, net 0.2 0.7 (0.9) (Loss) income before income taxes (152.9) 15.4 82.9 189.2 23.1 (3.8) 3.4 Non-GAAP EBITDA 88.8 12.5 82.9 23.1 (3.2) 3.4 Note: For management reporting purposes, the table above assumes a management tax rate of 18% and a fully diluted share count of 178.2 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 and providing its initial outlook for its fiscal fourth quarter ending March 31, 2025: 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 $2,413 to $2,349 $10 $(17) $(678) Operating expenses $3,772 to $3,792 $(318) $(69) $
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.