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Take-Two Interactive (TTWO) investor relations material
Take-Two Interactive Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 Aug, 2025
Executive summary
Q1 FY2026 net bookings reached $1.42B, up 17% year-over-year and above guidance, driven by strong mobile, NBA 2K, and Grand Theft Auto performance.
GAAP net revenue for Q1 FY2026 was $1.50B, up 12% year-over-year, with a net loss narrowed to $11.9M ($0.07 per share).
Recurrent consumer spending grew 17% and represented 83% of net bookings, led by NBA 2K (+48%), mobile (low-teens), and GTA Online (low single digits).
Digital channels accounted for 98% of net revenue, highlighting the shift to digital distribution.
Anticipation is high for upcoming launches including Mafia: The Old Country, NBA 2K26, Borderlands 4, WWE 2K26, and Grand Theft Auto VI.
Financial highlights
Q1 net bookings were $1.42B, up from $1.22B last year and above guidance; GAAP net revenue was $1.50B.
Gross margin improved to 62.9% from 57.6% year-over-year.
Operating expenses decreased 3% to $923M; operating income was $21.6M, up from a loss last year.
EBITDA for Q1 FY2026 was $225.5M, up from $24.9M year-over-year.
Cash and cash equivalents at quarter-end were $2.03B, with net cash from operating activities at $25M.
Outlook and guidance
FY2026 net bookings outlook raised to $6.05B–$6.15B, representing 8% growth at midpoint.
FY2026 GAAP net revenue expected at $6.10B–$6.20B; net loss forecasted at $442M–$377M; EBITDA projected at $554M–$613M.
Q2 FY2026 net bookings projected at $1.7B–$1.75B; net revenue $1.65B–$1.7B; net loss $136M–$110M.
Recurrent consumer spending now expected to grow 4% YoY, making up 76% of net bookings.
Operating cash flow for FY2026 expected at ~$130M; capex at ~$140M.
What is driving the increase in FY26 outlook?
How does mobile platform perform vs console?
Explain the nature of 'other' adjustments.
How does hybrid-casual ad approach look?
Explain mobile deceleration after Q1's growth.
How will court rulings impact user monetization?
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Next Take-Two Interactive earnings date
Q2 20266 Nov, 2025
Next Take-Two Interactive earnings date
Q2 20266 Nov, 2025
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Frequently asked questions
Take-Two Interactive Software, Inc., together with its subsidiaries, develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead. Take-Two Interactive Software, Inc. was founded in 1993 and is headquartered in New York City, New York.
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