TAKE TWO INTERACTIVE SOFTWARE INC
For the period ended Aug 7, 2026. Filed Aug 7, 2026.
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Aug 7, 2026 · Filed Aug 7, 2026
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Contents
EX-99.1 · Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements
The statements contained herein, which are not historical facts, including statements relating to Take-Two Interactive Software, Inc.'s ("Take-Two," the "Company," "we," "us," or similar pronouns) outlook, are considered forward-looking statements under federal securities laws and may be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "potential," "predicts," "projects," "seeks," "should," "will," or words of similar meaning and include, but are not limited to, statements regarding the outlook for our future business and financial performance. Such forward-looking statements are based on the current beliefs of our management as well as assumptions made by and information currently available to them, which are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual outcomes and results may vary materially from these forward-looking statements based on a variety of risks and uncertainties, including risks relating to the timely release and significant market acceptance of our games; the risks of conducting business internationally, including as a result of unforeseen geopolitical events; the impact of changes in interest rates by the Federal Reserve and other central banks, including on our short-term investment portfolio; the impact of inflation; volatility in foreign currency exchange rates; our dependence on key management and product development personnel; our dependence on our NBA 2K and Grand Theft Auto products and our ability to develop other hit titles; our ability to leverage opportunities on PlayStation®5 and Xbox Series X|S; factors affecting our mobile business, such as player acquisition costs; and the ability to maintain acceptable pricing levels on our games.
Other important factors and information are contained in the Company's most recent Annual Report on Form 10-K, including the risks summarized in the section entitled "Risk Factors," the Company’s most recent Quarterly Report on Form 10-Q, and the Company's other periodic filings with the SEC, which can be accessed atwww.take2games.com. All forward-looking statements are qualified by these cautionary statements and apply only as of the date they are made. The Company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
| TAKE-TWO INTERACTIVE SOFTWARE, INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) | ||
| (in millions, except per share amounts) | ||
| Three Months Ended June 30, | ||
| 2026 | 2025 | |
| Net revenue: | ||
| Game | $1,422.8 | $1,382.5 |
| Advertising | 111.1 | 121.3 |
| Total net revenue | 1,533.9 | 1,503.8 |
| Cost of revenue: | ||
| Product costs | 187.8 | 210.4 |
| Game intangibles | 154.3 | 158.5 |
| Software development costs and royalties | 135.1 | 30.1 |
| Licenses | 99.5 | 70.9 |
| Internal royalties | 74.7 | 88.9 |
| Total cost of revenue | 651.4 | 558.8 |
| Gross profit | 882.5 | 945.0 |
| Selling and marketing | 369.7 | 409.2 |
| Research and development | 273.8 | 256.4 |
| General and administrative | 226.3 | 207.4 |
| Depreciation and amortization | 48.2 | 50.4 |
| Total operating expenses | 918.0 | 923.4 |
| (Loss) income from operations | (35.5) | 21.6 |
| Interest and other, net: | ||
| Interest income | 22.8 | 16.5 |
| Interest expense | (30.4) | (38.9) |
| Other income/(expense), net | (6.2) | (13.0) |
| Interest and other, net | (13.8) | (35.4) |
| Loss before income taxes | (49.3) | (13.8) |
| Benefit from income taxes | (15.2) | (1.9) |
| Net loss | $(34.1) | $(11.9) |
| Loss per share: | ||
| Basic and diluted loss per share | $(0.18) | $(0.07) |
| Weighted average shares outstanding | ||
| Basic | 186.2 | 180.8 |
| TAKE-TWO INTERACTIVE SOFTWARE, INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||
| (in millions, except per share amounts) | ||
| June 30, 2026 | March 31, 2026 | |
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $1,364.9 | $1,545.5 |
| Short-term investments | 461.7 | 443.8 |
| Restricted cash and cash equivalents | 14.0 | 13.2 |
| Accounts receivable, net of allowances of $0.8 and $0.9 at June 30, 2026 and March 31, 2026, respectively | 606.9 | 737.0 |
| Software development costs and licenses | 36.0 | 68.8 |
| Contract assets | 69.7 | 89.7 |
| Prepaid expenses and other | 403.9 | 301.5 |
| Total current assets | 2,957.1 | 3,199.5 |
| Fixed assets, net | 429.6 | 445.4 |
| Right-of-use assets | 321.9 | 334.6 |
| Software development costs and licenses, net of current portion | 2,395.0 | 2,277.5 |
| Goodwill | 1,060.9 | 1,061.9 |
| Other intangibles, net | 1,493.6 | 1,653.2 |
| Long-term restricted cash and cash equivalents | 67.2 | 79.4 |
| Other assets | 338.9 | 331.7 |
| Total assets | $9,064.2 | $9,383.2 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $179.5 | $211.0 |
| Accrued expenses and other current liabilities | 914.3 | 1,117.8 |
| Deferred revenue | 988.4 | 1,159.9 |
| Lease liabilities | 71.5 | 70.1 |
| Short-term debt, net | 629.9 | 30.0 |
| Total current liabilities | 2,783.6 | 2,588.8 |
| Long-term debt, net | 1,889.8 | 2,488.0 |
| Non-current deferred revenue | 26.1 | 29.7 |
| Non-current lease liabilities | 353.5 | 370.2 |
| Non-current software development royalties | 71.1 | 84.5 |
| Deferred tax liabilities, net | 197.9 | 182.3 |
| Other long-term liabilities | 133.8 | 128.8 |
| Total liabilities | $5,455.8 | $5,872.3 |
| Stockholders' equity: | ||
| Preferred stock, $0.01 par value, 5.0 shares authorized: no shares issued and outstanding at June 30, 2026 and March 31, 2026 | — | — |
| Common stock, $0.01 par value, 300.0 and 300.0 shares authorized; 210.7 and 209.1 shares issued and 187.0 and 185.4 outstanding at June 30, 2026 and March 31, 2026, respectively | 2.1 | 2.1 |
| Additional paid-in capital | 12,095.8 | 11,953.7 |
| Treasury stock, at cost; 23.7 and 23.7 common shares at June 30, 2026 and March 31, 2026, respectively | (1,020.6) | (1,020.6) |
| Accumulated deficit | (7,391.1) | (7,357.0) |
| Accumulated other comprehensive loss | (77.8) | (67.3) |
| Total stockholders' equity | $3,608.4 | $3,510.9 |
| Total liabilities and stockholders' equity | $9,064.2 | $9,383.2 |
| TAKE-TWO INTERACTIVE SOFTWARE, INC. | ||
|---|---|---|
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) | ||
| (in millions) | ||
| Three Months Ended June 30, | ||
| 2026 | 2025 | |
| Operating activities: | ||
| Net loss | $(34.1) | $(11.9) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Amortization and impairment of software development costs and licenses | 107.5 | 46.1 |
| Stock-based compensation | 86.0 | 40.7 |
| Noncash lease expense | 14.5 | 13.1 |
| Amortization and impairment of intangibles | 168.5 | 174.8 |
| Depreciation | 40.1 | 42.1 |
| Interest expense | 30.4 | 38.9 |
| Other, net | 6.7 | 16.9 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 130.0 | 114.8 |
| Software development costs and licenses | (173.0) | (164.6) |
| Prepaid expenses, other current and other non-current assets | (104.6) | (43.5) |
| Deferred revenue | (174.9) | (72.3) |
| Accounts payable, accrued expenses and other liabilities | (265.9) | (239.8) |
| Net cash used in operating activities | (168.8) | (44.7) |
| Investing activities: | ||
| Change in bank-time deposits | (17.9) | (0.7) |
| Purchases of fixed assets | (25.0) | (25.1) |
| Purchases of long-term investments | (4.9) | (6.6) |
| Asset acquisitions | (15.8) | (4.4) |
| Proceeds from sale of marketable securities | 11.2 | — |
| Net cash used in investing activities | (52.4) | (36.8) |
| Financing activities: | ||
| Tax payment related to net share settlements on restricted stock awards | (1.3) | (1.3) |
| Issuance of common stock | 31.8 | 1,219.6 |
| Repayment of debt | — | (600.0) |
| Net cash provided by financing activities | 30.5 | 618.3 |
| Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents | (1.3) | 20.2 |
| Net change in cash, cash equivalents, and restricted cash and cash equivalents | (192.0) | 557.0 |
| Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year (1) | 1,638.1 | 1,559.2 |
| Cash, cash equivalents, and restricted cash and cash equivalents, end of period (1) | $1,446.1 | $2,116.2 |
(1) Cash, cash equivalents and restricted cash and cash equivalents shown on our Condensed Consolidated Statements of Cash Flow includes amounts in the Cash and cash equivalents, Restricted cash and cash equivalents, and Long-term restricted cash and cash equivalents on our Condensed Consolidated Balance Sheet.
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES | ||||
|---|---|---|---|---|
| Net Revenue and Net Bookings by Content, Platform Mix, Distribution Channel, and Geographic Region | ||||
| (in millions) | ||||
| Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | |||
| Amount | % of total | Amount | % of total | |
| Net revenue by content | ||||
| Recurrent consumer spending | $1,289.8 | 84% | $1,256.1 | 84% |
| Full game and other | 244.1 | 16% | 247.7 | 16% |
| Total Net revenue | $1,533.9 | 100% | $1,503.8 | 100% |
| Net Bookings by content | ||||
| Recurrent consumer spending | $1,169.4 | 84% | $1,183.5 | 83% |
| Full game and other | 216.5 | 16% | 239.6 | 17% |
| Total Net Bookings | $1,385.9 | 100% | $1,423.1 | 100% |
| Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | |||
| Amount | % of total | Amount | % of total | |
| Net revenue by platform | ||||
| Mobile | $762.3 | 50% | $801.7 | 53% |
| Console | 640.5 | 42% | 550.6 | 37% |
| PC and other | 131.1 | 8% | 151.5 | 10% |
| Total Net revenue | $1,533.9 | 100% | $1,503.8 | 100% |
| Net Bookings by platform | ||||
| Mobile | $739.5 | 53% | $792.8 | 56% |
| Console | 525.2 | 38% | 474.4 | 33% |
| PC and other | 121.2 | 9% | 155.9 | 11% |
| Total Net Bookings | $1,385.9 | 100% | $1,423.1 | 100% |
| Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | |||
| Amount | % of total | Amount | % of total | |
| Net revenue by distribution channel | ||||
| Digital online | $1,507.3 | 98% | $1,476.6 | 98% |
| Physical retail and other | 26.6 | 2% | 27.2 | 2% |
| Total Net revenue | $1,533.9 | 100% | $1,503.8 | 100% |
| Net Bookings by distribution channel | ||||
| Digital online | $1,368.6 | 99% | $1,405.1 | 99% |
| Physical retail and other | 17.3 | 1% | 18.0 | 1% |
| Total Net Bookings | $1,385.9 | 100% | $1,423.1 | 100% |
| Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | |||
| Amount | % of total | Amount | % of total | |
| Net revenue by geographic region | ||||
| United States | $920.0 | 60% | $900.4 | 60% |
| International | 613.9 | 40% | 603.4 | 40% |
| Total Net revenue | $1,533.9 | 100% | $1,503.8 | 100% |
| Net Bookings by geographic region | ||||
| United States | $805.4 | 58% | $836.6 | 59% |
| International | 580.5 | 42% | 586.5 | 41% |
| Total Net Bookings | $1,385.9 | 100% | $1,423.1 | 100% |
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADDITIONAL DATA | |||||||||||||
| (in millions) | |||||||||||||
| Three Months Ended June 30, 2026 · Net revenue · Cost of revenue- Product costs · Cost of revenue- Game intangibles · Cost of revenue- Software development costs and royalties · Cost of revenue- Licenses · Cost of revenue- Internal royalties | |||||||||||||
| As reported | $1,533.9 | $187.8 | $154.3 | $135.1 | $99.5 | $74.7 | |||||||
| Net effect from deferred revenue and related cost of revenue | (148.0) | (2.9) | (12.1) | (0.6) | |||||||||
| Stock-based compensation | (3.1) | ||||||||||||
| Amortization of acquired intangibles | (0.6) | (154.3) | |||||||||||
| Three Months Ended June 30, 2026 | Selling and marketing | Research and development | General and administrative | Depreciation and amortization | Interest and other, net | ||||||||
| As reported | $369.7 | $273.8 | $226.3 | $48.2 | $(13.8) | ||||||||
| Net effect from deferred revenue and related cost of revenue | 0.4 | ||||||||||||
| Stock-based compensation | (23.8) | (19.4) | (39.7) | ||||||||||
| Amortization of acquired intangibles | (5.6) | (7.9) | |||||||||||
| Acquisition related expenses | (0.5) | (1.9) | 2.2 | ||||||||||
| Other | 3.2 | ||||||||||||
| Three Months Ended June 30, 2025 | Net revenue | Cost of revenue - Product costs | Cost of revenue -Game intangibles | Cost of revenue- Software development costs and royalties | Cost of revenue- Licenses | Cost of revenue- Internal royalties | |||||||
| As reported | $1,503.8 | $210.4 | $158.5 | $30.1 | $70.9 | $88.9 | |||||||
| Net effect from deferred revenue and related cost of revenue | (80.7) | (3.6) | (7.9) | 0.2 | |||||||||
| Stock-based compensation | 41.0 | ||||||||||||
| Amortization and impairment of acquired intangibles | (0.8) | (158.5) | |||||||||||
| Three Months Ended June 30, 2025 | Selling and marketing | Research and development | General and administrative | Depreciation and amortization | Interest and other, net | ||||||||
| As reported | $409.2 | $256.4 | $207.4 | $50.4 | $(35.4) | ||||||||
| Net effect from deferred revenue and related cost of revenue | 0.4 | ||||||||||||
| Stock-based compensation | (24.4) | (21.1) | (36.2) | ||||||||||
| Amortization and impairment of acquired intangibles | (7.2) | (8.3) | |||||||||||
| Acquisition related expenses | (0.3) | (3.6) | 5.5 | ||||||||||
| Impact of business reorganization | (0.4) | 5.0 | (0.4) | ||||||||||
| Other | (2.1) | ||||||||||||
| TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES | ||
|---|---|---|
| RECONCILIATION OF GAAP TO NON-GAAP MEASURE | ||
| (in millions) | ||
| Three Months Ended June 30, | ||
| 2026 | 2025 | |
| Net loss | $(34.1) | $(11.9) |
| Benefit from income taxes | (15.2) | (1.9) |
| Interest income | (22.8) | (16.5) |
| Interest expense | 30.4 | 38.9 |
| Depreciation and amortization | 48.2 | 50.4 |
| Amortization of acquired intangibles | 160.5 | 166.5 |
| EBITDA | $167.0 | $225.5 |
| Outlook | |
|---|---|
| Net income | $104 to $143 |
| Provision for income taxes | $55 to $76 |
| Interest expense, net | $41 |
| Depreciation | $175 |
| Amortization of acquired intangibles | $618 |
| EBITDA | $993 to $1,053 |
| Outlook | |
|---|---|
| Net loss | $(157) to $(140) |
| Benefit from income taxes | $(67) to $(60) |
| Interest expense, net | $11 |
| Depreciation | $44 |
| Amortization of acquired intangibles | $149 |
| EBITDA | $(20) to $4 |
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