Take-Two Interactive (TTWO) FY2025 10-K Annual Report
Take-Two Interactive (TTWO) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on May 20, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Take-Two Interactive FY2025 10-K Analysis
Business Overview
- • Core business model: Interactive entertainment through development, publishing, and distribution of video games and related content worldwide
- • New acquisition: Completed purchase of The Gearbox Entertainment Company, Inc. in June 2024 for 2.8 million shares of common stock
- • Strategic emphasis: Increased focus on high-quality titles for key console platforms amid industry consolidation and economic challenges
- • Financial highlight: Net revenue $5.63B, up 5.3% YoY; operating loss increased to $4.39B mainly due to $3.5B goodwill impairment charges
- • Digital revenue accounted for 96.4% of net revenue; mobile platform reliance continues with noted margin impact from Apple and Google fees
Management Discussion & Analysis
- • Revenue $5,633.6M, up 5.3% YoY from $5,349.6M driven by Match Factory! (+$237.1M), Civilization (+$127.2M), and Toon Blast (+$84.2M)
- • Gross margin 54.3% vs 41.9% YoY, operating loss $(4,391.1)M vs $(3,590.6)M, driven by $3,545.2M goodwill impairment vs $2,342.1M prior year
- • Best performing segment: Mobile revenue $2,942.0M up $194.0M; worst: Console revenue $2,099.1M down $68.2M YoY
- • Operating cash flow used $(45.2)M; investing cash flow used $(151.5)M; financing cash flow provided $650.5M from debt issuance and stock; capital expenditures guidance $145M for FY26
- • Management highlights risks from goodwill impairments, tax uncertainties, foreign currency, and expects no share buybacks in FY25; cautious outlook on economic conditions and credit risk exposure
Risk Factors
- • Regulatory risk: Apple’s AppTracking Transparency framework requiring explicit user consent, effective since April 2021, impacts advertising and user data use on iOS devices
- • Geopolitical/macroeconomic threat: Supply chain disruptions worsened by Russia-Ukraine and Israel-Hamas wars complicate hardware infrastructure availability
- • Operational risk: Dependency on third-party platform approvals from Sony and Microsoft for game publishing, affecting 37.3% of net revenue by product platform in FY2025
- • Competitive risk: Intense competition from major publishers like Electronic Arts, Tencent, and Apple/Google’s mobile platforms, challenging player acquisition and retention
- • Financial risk: Significant outstanding debt posing financial leverage concerns affecting capital allocation and investment flexibility
Take-Two Interactive FY2025 Key Financial MetricsXBRL
Revenue
$5.6B
▲ +5.3% YoY
Net Income
-$4.5B
▼ -19.6% YoY
Gross Margin
54.4%
▲ +1245bp YoY
Operating Margin
-77.9%
▼ -1083bp YoY
Net Margin
-79.5%
▼ -951bp YoY
ROE
-209.5%
▼ -14346bp YoY
Total Assets
$9.2B
▼ -24.9% YoY
EPS (Diluted)
$-25.58
▼ -16.2% YoY
Operating Cash Flow
-$45M
▼ -180.7% YoY
Source: XBRL data from Take-Two Interactive FY2025 10-K filing on SEC EDGAR. All figures in USD.
Get deeper insights on Take-Two Interactive
Access full AI analysis, insider trading data, fund holdings, and cross-signal detection on SignalX.