Take-Two Interactive Software (TTWO) investor relations material

Executive summary

• Q1 FY2027 net bookings were $1.39 billion, slightly above guidance but down 3% year-over-year, driven by NBA 2K and Grand Theft Auto series.

• GAAP net revenue for Q1 FY2027 was $1.534 billion, up 2% year-over-year.

• GAAP net loss widened to $34.1 million ($0.18 per share), mainly due to a $43.4 million impairment charge for a canceled third-party title.

• Recurrent consumer spending accounted for 84% of net bookings and net revenue, with NBA 2K and GTA series showing growth, while mobile declined.

• Grand Theft Auto VI is set for release on November 19, 2026, with record pre-orders and strong anticipation.

Financial highlights

• Gross profit for Q1 FY2027 was $882.5 million, down from $945.0 million year-over-year.

• Operating expenses were $918 million, nearly flat year-over-year.

• EBITDA for Q1 FY2027 was $167.0 million, down from $225.5 million year-over-year.

• Net cash used in operating activities was $168.8 million, compared to $44.7 million in the prior year.

• Cash and cash equivalents at quarter-end were $1.36 billion.

Outlook and guidance

• Fiscal 2027 net bookings are projected at $8.0–$8.2 billion, about 20% growth over fiscal 2026.

• GAAP net revenue guidance for fiscal 2027 is $7.9–$8.1 billion; net income projected at $104–$143 million.

• Fiscal 2027 EBITDA forecasted at $993–$1,053 million.

• Q2 FY2027 net bookings expected at $1.62–$1.67 billion; net loss projected between $157 million and $140 million.

• Operating cash flow for fiscal 2027 expected to exceed $1 billion; capital expenditures projected at $290 million.