Exhibit 99.1

FOR IMMEDIATE RELEASE

CONTACT:
(Investor Relations)						(Corporate Press)
Nicole Shevins						Alan Lewis
Senior Vice President						Vice President
Investor Relations & Corporate Communications						Corporate Communications & Public Affairs
Take-Two Interactive Software, Inc.						Take-Two Interactive Software, Inc.
(646) 536-3005						(646) 536-2983
Nicole.Shevins@take2games.com						Alan.Lewis@take2games.com

Take-Two Interactive Software, Inc. Reports Results for Fiscal First Quarter 2025

$1.22 billion Net Bookings, in line with guidance

Company updates outlook for fiscal 2025 and reiterates Net Bookings outlook for fiscal year 2025 of

$5.55 to $5.65 billion

New York, NY – August 8, 2024 – Take-Two Interactive Software, Inc. (NASDAQ:TTWO) today reported results for the first quarter of its fiscal year 2025, ended June 30, 2024. For further information, please see the first quarter fiscal 2025 results slide deck posted to the Company’s investor relations website at take2games.com/ir.

Management Comments

“We achieved solid first quarter results by engaging our players with exciting new game releases and content updates, while also maintaining our focus on efficiency. Our management team remains confident in our path forward and we are reiterating our Net Bookings outlook for the year of $5.55 to $5.65 billion,” said Strauss Zelnick, Chairman and CEO of Take-Two Interactive.

“We are highly optimistic about our future — our core franchises remain vibrant, our teams are hard at work on the most ambitious development pipeline in our history, and we are evaluating continually new growth opportunities that have the ability to enhance our business model and financial profile. As we pursue our strategic priorities, we expect to achieve sequential increases in Net Bookings in Fiscal 2026 and 2027, which we believe will drive long-term shareholder value.”

First Quarter Fiscal 2025 Financial and Operational Highlights

•Total Net Bookings* grew 1% to $1.22 billion, as compared to $1.20 billion during last year’s fiscal first quarter.

◦Net Bookings from recurrent consumer spending** were flat and accounted for 83% of total Net Bookings.

◦The largest contributors to Net Bookings were NBA® 2K24, Grand Theft Auto® Online and Grand Theft Auto V, Toon Blast™, our hyper-casual mobile portfolio, Empires & Puzzles™, Match Factory!™, Red Dead Redemption® 2 and Red Dead Online, Words With Friends™, and Merge Dragons!™.

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•GAAP net revenue increased 4% to $1.34 billion, as compared to $1.28 billion in last year’s fiscal first quarter.

◦Recurrent consumer spending** increased 3% and accounted for 82% of total GAAP net revenue.

◦The largest contributors to GAAP net revenue were NBA 2K24, Grand Theft Auto Online and Grand Theft Auto V, Toon Blast, Empires & Puzzles, our hyper-casual mobile portfolio, Match Factory!, Red Dead Redemption 2 and Red Dead Online, Words With Friends, and Merge Dragons!.

•GAAP net loss was $262.0 million, or $1.52 per share, as compared to $206.0 million, or $1.22 per share, for the comparable period last year.

* Net Bookings is our operational metric and defined as the net amount of products and services sold digitally or sold-in physically during the period, and includes licensing fees, merchandise, in-game advertising, strategy guides and publisher incentives.

** Recurrent consumer spending is generated from ongoing consumer engagement and includes virtual currency, add-on content, in-game purchases and in-game advertising.

First 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 and future outlook:

						Three Months Ended June 30, 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						$1,338.2						(120.1)
Cost of revenue						567.1						(11.1)						(2.9)						(164.4)
Gross profit						771.1						(109.0)						2.9						164.4
Operating expenses						956.0												(72.4)						(17.7)						(49.5)						(16.8)
(Loss) income from operations						(184.9)						(109.0)						75.3						182.0						49.5						16.8
Interest and other, net						(24.2)						0.6																								1.9						2.1
(Loss) gain on fair value adjustments, net						(3.1)																														0.7						2.4
(Loss) income before income taxes						(212.2)						(108.3)						75.3						182.0						49.5						19.4						4.5
Non-GAAP
EBITDA						24.9						(109.0)						75.3												49.5						18.0						4.5

Note: For management reporting purposes, the table above assumes a management tax rate of 18% and a fully diluted share count of 174.6 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.

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Outlook for Fiscal 2025

Take-Two is revising its outlook for the fiscal year ending March 31, 2025 and providing its initial outlook for its fiscal second quarter ending September 30, 2024:

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 and impairment of acquired intangibles

Business reorganization and other (a)

GAAP

Total net revenue

$5,570 to $5,670

$(20)

Cost of revenue

$2,382 to $2,407

$10

$(13)

$(667)

Operating expenses

$3,695 to $3,715

$(302)

$(70)

$(93)

Interest and other, net

$112

$(12)

(Loss) income before income taxes

$(619) to $(564)

$(30)

$315

$737

$105

Net loss

$(757) to $(690)

Net loss per share

$(4.33) to $(3.95)

Net cash provided by operating activities

approximately $(200)

Capital expenditures

approximately $140

Non-GAAP

EBITDA

$365 to $420

$(30)

$315

$93

Adjusted Unrestricted Operating Cash Flow

approximately $(150)

Operational metric

Net Bookings

$5,550 to $5,650

•Management reporting tax rate anticipated to be 18%

•Share count used to calculate GAAP net loss per share is expected to be 174.9 million

•Share count used to calculate management reporting diluted net income per share is expected to be 177.4 million

(a) Other includes adjustments for (i) business acquisition expenses, (ii) the revaluation of the Turkish Lira against the U.S. Dollar, and (iii) fair value adjustments related to certain equity investments.

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Second Quarter Ending September 30, 2024

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:

Three Months Ending September 30, 2024

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 intangible assets

Business reorganization and business acquisition

GAAP

Total net revenue

$1,290 to $1,340

$130

Cost of revenue

$609 to $627

$13

$(168)

Operating expenses

$982 to $992

$(77)

$(18)

$(22)

Interest and other, net

$28

$(2)

(Loss) income before income taxes

$(329) to $(307)

$117

$77

$186

$24

Net loss

$(400) to $(373)

Net loss per share

$(2.30) to $(2.15)

Non-GAAP

EBITDA

$(81) to $(59)

$117

$77

$22

Operational metric

Net Bookings

$1,420 to $1,470

•Management reporting tax rate anticipated to be 18%

•Share count used to calculate GAAP net loss per share is expected to be 173.8 million

•Share count used to calculate management reporting diluted net income per share is expected to be 177.4 million

1)The individual components of the financial outlook may not foot to the totals, as the Company does not expect actual results for every component to be at the low end or high end of the outlook range simultaneously.

Key assumptions and dependencies underlying the Company’s outlook include: a continuation of the current economic backdrop; the timely delivery of the titles included in this financial outlook; continued growth in the installed base of PlayStation 5 and Xbox Series X|S, as well as engagement on Xbox One and PlayStation 4; the ability to develop and publish products that capture market share for these current generation systems while also leveraging opportunities on PC, mobile and other platforms; factors affecting our performance on mobile, such as player acquisition costs; our ongoing focus on our live services portfolio and new game pipeline; and stable foreign exchange rates. See also “Cautionary Note Regarding Forward Looking Statements” below.

Product Releases

The following have been released since April 1, 2024:

Label			Product			Platforms			Release Date
Private Division			No Rest for the Wicked			Early Access on PC			April 18, 2024
2K			NFL 2K Playmakers			iOs, Android			April 23, 2024
2K			TopSpin 2K25			PS4, PS5, Xbox One, Xbox Series X|S, PC			April 26, 2024
Zynga			Star Wars: Hunters			iOS, Android, Switch			June 4, 2024
Rockstar Games			Bottom Dollar Bounties Summer Update			PS4, PS5, Xbox One, Xbox Series X|S, PC			June 25, 2024
Zynga			Game of Thrones: Legends			iOs, Android			July 25, 2024

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Take-Two's future lineup announced to-date includes:

Label			Product			Platforms			Release Date
2K			NBA 2K25			PS5, PS4, Xbox Series X|S Xbox One, PC, Switch			September 6, 2024
2K			WWE 2K25			TBA			Q4 Fiscal 2025
2K			Sid Meier's Civilization VII			PS5, PS4, Xbox Series X|S Xbox One, PC			Q4 Fiscal 2025
Private Division			Tales of the Shire: A The Lord of the Rings Game			PS5, Xbox Series X|S, PC, Switch			Fiscal 2025
Rockstar Games			Grand Theft Auto VI			PS5, Xbox Series X|S			Fall of Calendar 2025
Zynga			CSR Racing 3			iOS, Android			TBA
Ghost Story Games			Judas			PS5, Xbox Series X|S, PC			TBA
Private Division			Tales of the Shire: A The Lord of the Rings Game			Netflix			TBA

Conference Call

Take-Two will host a conference call today at 4:30 p.m. Eastern Time to review these results and discuss other topics. The call can be accessed by dialing (877) 407-0984 or (201) 689-8577. A live listen-only webcast of the call will be available by visiting http://ir.take2games.com and a replay will be available following the call at the same location.

Non-GAAP Financial Measures

In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses Non-GAAP measures of financial performance: Adjusted Unrestricted Operating Cash Flow, which is defined as GAAP net cash from operating activities, adjusted for changes in restricted cash, and EBITDA, which is defined as GAAP net income (loss) excluding interest income (expense), provision for (benefit from) income taxes, depreciation expense, and amortization and impairment of acquired intangibles.

The Company’s management believes it is important to consider Adjusted Unrestricted Operating Cash Flow, in addition to net cash from operating activities, as it provides more transparency into current business trends without regard to the timing of payments from restricted cash, which is primarily related to a dedicated account limited to the payment of certain internal royalty obligations.

The Company’s management believes it is important to consider EBITDA, in addition to net income, as it removes the effect of certain non-cash expenses, debt-related charges, and income taxes. Management believes that, when considered together with reported amounts, EBITDA is useful to investors and management in understanding the Company’s ongoing operations and in analysis of ongoing operating trends and provides useful additional information relating to the Company’s operations and financial condition.

These Non-GAAP financial measures are not intended to be considered in isolation from, as a substitute for, or superior to, GAAP results. These Non-GAAP financial measures may be different from similarly titled measures used by other companies. In the future, Take-Two may also consider whether other items should also be excluded in calculating these Non-GAAP financial measures used by the Company. Management believes that the presentation of these Non-GAAP financial measures provides investors with additional useful information to measure Take-Two's financial and operating performance. In particular, these measures facilitate comparison of our operating performance between periods and may help investors to understand better the operating results of Take-Two. Internally, management uses these Non-GAAP financial measures in assessing the Company's operating results and in planning and forecasting. A reconciliation of these Non-GAAP financial measures to the most comparable GAAP measure is contained in the financial tables to this press release.

Final Results

The financial results discussed herein are presented on a preliminary basis; final data will be included in Take-Two’s Quarterly Report on Form 10−Q for the period ended June 30, 2024.

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About Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. We develop and publish products principally through Rockstar Games, 2K, Private Division, and Zynga. Our products are designed for console gaming systems, PC, and mobile, including smartphones and tablets. We deliver our products through physical retail, digital download, online platforms, and cloud streaming services. The Company’s common stock is publicly traded on NASDAQ under the symbol TTWO. For more corporate and product information please visit our website at http://www.take2games.com.

All trademarks and copyrights contained herein are the property of their respective holders.

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 our combination with Zynga Inc.; 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; the timely release and significant market acceptance of our games; 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 at www.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.

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TAKE-TWO INTERACTIVE SOFTWARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
(in millions, except per share amounts)
						Three Months Ended June 30,
						2024						2023
Net revenue:
Game						$	1,216.7					$	1,096.1
Advertising						121.5						188.6
Total net revenue						1,338.2						1,284.7
Cost of revenue:
Product costs						203.3						178.9
Game intangibles						163.5						186.9
Software development costs and royalties						76.2						115.7
Internal royalties						69.0						72.6
Licenses						55.1						51.4
Total cost of revenue						567.1						605.5
Gross profit						771.1						679.2
Selling and marketing						431.4						399.4
Research and development						219.8						238.6
General and administrative						210.5						197.9
Depreciation and amortization						44.8						40.4
Business reorganization						49.5						7.2
Total operating expenses						956.0						883.5
Loss from operations						(184.9)						(204.3)
Interest and other, net						(24.2)						(25.4)
(Loss) gain on fair value adjustments, net						(3.1)						0.8
Loss before income taxes						(212.2)						(228.9)
Provision for (benefit from) income taxes						49.8						(22.9)
Net loss						$	(262.0)					$	(206.0)
Loss per share:
Basic and diluted loss per share						$	(1.52)					$	(1.22)
Weighted average shares outstanding
Basic						172.3						169.4

TAKE-TWO INTERACTIVE SOFTWARE, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in millions, except per share amounts)
						June 30, 2024						March 31, 2024
						(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents						$	1,081.1					$	754.0
Short-term investments						15.4						22.0
Restricted cash and cash equivalents						306.1						252.1
Accounts receivable, net of allowances of $1.2 and $1.2 at June 30, 2024 and March 31, 2024, respectively						594.2						679.7
Software development costs and licenses						62.7						88.3
Contract assets						80.7						85.0
Prepaid expenses and other						418.8						378.6
Total current assets						2,559.0						2,259.7
Fixed assets, net						422.0						411.1
Right-of-use assets						344.0						325.7
Software development costs and licenses, net of current portion						1,606.0						1,446.5
Goodwill						4,706.8						4,426.4
Other intangibles, net						3,005.9						3,060.6
Long-term restricted cash and cash equivalents						84.7						95.9
Other assets						216.2						191.0
Total assets						$	12,944.6					$	12,216.9
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable						$	170.3					$	195.9
Accrued expenses and other current liabilities						1,067.7						1,062.6
Deferred revenue						945.3						1,059.5
Lease liabilities						64.1						63.8
Short-term debt, net						598.9						24.6
Total current liabilities						2,846.3						2,406.4
Long-term debt, net						3,054.4						3,058.3
Non-current deferred revenue						38.2						42.9
Non-current lease liabilities						404.9						387.3
Non-current software development royalties						90.0						102.1
Deferred tax liabilities, net						311.1						340.9
Other long-term liabilities						208.2						211.1
Total liabilities						$	6,953.1					$	6,549.0
Stockholders' equity:
Preferred stock, $0.01 par value, 5.0 shares authorized; no shares issued and outstanding at June 30, 2024 and March 31, 2024						—						—
Common stock, $0.01 par value, 300.0 and 300.0 shares authorized; 198.8 and 194.5 shares issued and 175.2 and 170.8 outstanding at June 30, 2024 and March 31, 2024, respectively						2.0						1.9
Additional paid-in capital						9,962.5						9,371.6
Treasury stock, at cost; 23.7 and 23.7 common shares at June 30, 2024 and March 31, 2024, respectively						(1,020.6)						(1,020.6)
Accumulated deficit						(2,841.9)						(2,579.9)
Accumulated other comprehensive loss						(110.5)						(105.1)
Total stockholders' equity						$	5,991.5					$	5,667.9
Total liabilities and stockholders' equity						$	12,944.6					$	12,216.9

TAKE-TWO INTERACTIVE SOFTWARE, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(in millions)
						Three Months Ended June 30,
						2024						2023
Operating activities:
Net loss						$	(262.0)					$	(206.0)
Adjustments to reconcile net loss to net cash provided by operating activities:
Amortization and impairment of software development costs and licenses						85.9						69.0
Stock-based compensation						75.3						78.7
Noncash lease expense						16.1						15.0
Amortization and impairment of intangibles						182.0						249.6
Depreciation						35.9						31.5
Interest expense						37.1						36.8
Other, net						5.5						7.9
Changes in assets and liabilities, net of effect from purchases of businesses:
Accounts receivable						91.6						141.3
Software development costs and licenses						(197.9)						(125.2)
Prepaid expenses and other current and other non-current assets						49.0						(14.4)
Deferred revenue						(118.3)						(87.4)
Accounts payable, accrued expenses and other liabilities						(191.2)						(191.8)
Net cash (used in) provided by operating activities						(191.0)						5.0
Investing activities:
Change in bank time deposits						6.6						0.8
Sale and maturities of available-for-sale securities						—						78.0
Purchases of fixed assets						(35.1)						(31.5)
Purchases of long-term investments						(11.1)						(5.0)
Business acquisitions						9.6						(1.6)
Other						(4.7)						(2.6)
Net cash (used in) provided by investing activities						(34.7)						38.1
Financing activities:
Tax payment related to net share settlements on restricted stock awards						—						(41.3)
Issuance of common stock						23.3						18.8
Payment for settlement of convertible notes						(8.3)						—
Proceeds from issuance of debt						598.9						999.3
Cost of debt						(5.4)						(7.5)
Repayment of debt						—						(989.6)
Payment of contingent earn-out consideration						(12.0)						(0.5)
Net cash provided by (used in) financing activities						596.5						(20.8)
Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents						(0.9)						3.8
Net change in cash, cash equivalents, and restricted cash and cash equivalents						369.9						26.1
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year (1)						1,102.0						1,234.6
Cash, cash equivalents, and restricted cash and cash equivalents, end of period (1)						$	1,471.9					$	1,260.7

(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 Geographic Region, Distribution Channel, and Platform
(in millions)
						Three Months Ended June 30, 2024												Three Months Ended June 30, 2023
						Amount						% of total						Amount						% of total
Net revenue by geographic region
United States						$	820.5					61		%				$	803.9					63		%
International						517.7						39		%				480.8						37		%
Total Net revenue						$	1,338.2					100		%				$	1,284.7					100		%
Net Bookings by geographic region
United States						$	728.5					60		%				$	726.2					60		%
International						489.6						40		%				475.3						40		%
Total Net Bookings						$	1,218.1					100		%				$	1,201.5					100		%
						Three Months Ended June 30, 2024												Three Months Ended June 30, 2023
						Amount						% of total						Amount						% of total
Net revenue by distribution channel
Digital online						$	1,295.5					97		%				$	1,240.0					97		%
Physical retail and other						42.7						3		%				44.7						3		%
Total Net revenue						$	1,338.2					100		%				$	1,284.7					100		%
Net Bookings by distribution channel
Digital online						$	1,187.3					97		%				$	1,165.8					97		%
Physical retail and other						30.8						3		%				35.7						3		%
Total Net Bookings						$	1,218.1					100		%				$	1,201.5					100		%
						Three Months Ended June 30, 2024												Three Months Ended June 30, 2023
						Amount						% of total						Amount						% of total
Net revenue by platform
Mobile						$	722.5					54		%				$	680.0					53		%
Console						508.9						38		%				504.3						39		%
PC and other						106.8						8		%				100.4						8		%
Total Net revenue						$	1,338.2					100		%				$	1,284.7					100		%
Net Bookings by platform
Mobile						$	709.3					58		%				$	689.6					57		%
Console						405.4						33		%				419.2						35		%
PC and other						103.4						9		%				92.7						8		%
Total Net Bookings						$	1,218.1					100		%				$	1,201.5					100		%

TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES
ADDITIONAL DATA
(in millions)
Three Months Ended June 30, 2024			Net revenue						Cost of revenue- Product costs						Cost of revenue- Game intangibles						Cost of revenue- Software development costs and royalties						Cost of revenue- Internal royalties						Cost of revenue- Licenses
As reported			$	1,338.2					$	203.3					$	163.5					$	76.2					$	69.0					$	55.1
Net effect from deferred revenue and related cost of revenue			(120.1)						(3.2)												(8.6)												0.7
Stock-based compensation																					(2.9)
Amortization and impairment of acquired intangibles									(0.8)						(163.5)
Three Months Ended June 30, 2024			Selling and marketing						Research and development						General and administrative						Depreciation and amortization						Business reorganization						Interest and other, net						(Loss) gain on fair value adjustments, net
As reported			$	431.4					$	219.8					$	210.5					$	44.8					49.5						$	(24.2)					$	(3.1)
Net effect from deferred revenue and related cost of revenue																																	0.6
Stock-based compensation			(21.2)						(23.2)						(28.0)
Amortization and impairment of acquired intangibles			(1.6)						(7.2)												(9.0)
Acquisition related expenses									(0.1)						(16.8)																		1.9						0.7
Impact of business reorganization																											(49.5)
Other																																	2.1						2.4
Three Months Ended June 30, 2023			Net revenue						Cost of revenue -Game intangibles						Cost of revenue - Product costs						Cost of revenue- Software development costs and royalties						Cost of revenue- Internal royalties						Cost of revenue- Licenses
As reported			$	1,284.7					$	186.9					$	178.9					$	115.7					$	72.6					$	51.4
Net effect from deferred revenue and related cost of revenue			(83.2)												(2.2)						(5.2)												0.6
Stock-based compensation																					(6.7)
Amortization and impairment of acquired intangibles									(186.9)
Acquisition related expenses																																	10.0
Three Months Ended June 30, 2023			Selling and marketing						Research and development						General and administrative						Depreciation and amortization						Business reorganization						Interest and other, net						(Loss) gain on fair value adjustments, net
As reported			$	399.4					$	238.6					$	197.9					$	40.4					$	7.2					$	(25.4)					$	0.8
Net effect from deferred revenue and related cost of revenue																																	0.6
Stock-based compensation			(24.3)						(23.6)						(24.1)
Amortization and impairment of acquired intangibles			(46.3)						(7.2)												(8.9)
Acquisition related expenses			(0.2)						(1.7)						(25.3)																		(4.6)						1.5
Impact of business reorganization																											(7.2)
Other																																	13.8						(2.3)

TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP MEASURE
(in millions)
						Three Months Ended June 30,
						2024						2023
Net cash from operating activities						$	(191.0)					$	5.0
Net change in Restricted cash (1)						(41.8)						(78.8)
Adjusted Unrestricted Operating Cash Flow						$	(232.8)					$	(73.8)
						Three Months Ended June 30,
						2024						2023
Restricted cash beginning of period						$	348.0					$	407.2
Restricted cash end of period						390.8						484.9
Restricted cash related to acquisitions						(1.0)						1.1
(1) Net change in Restricted cash						$	(41.8)					$	(78.8)

TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP MEASURE
(in millions)
						Three Months Ended June 30,
						2024						2023
Net loss						$	(262.0)					$	(206.0)
Provision for (benefit from) income taxes						49.8						(22.9)
Interest expense						19.2						12.6
Depreciation and amortization						44.8						40.4
Amortization of acquired intangibles						173.1						240.4
EBITDA						$	24.9					$	64.5

Outlook
						Fiscal Year Ending March 31, 2025
Net loss						$(757) to $(690)
Provision for income taxes						$138 to $126
Interest expense						$96
Depreciation						$151
Amortization of acquired intangibles						$737
EBITDA						$365 to $420

Outlook
						Three Months Ended September 30, 2024
Net loss						$(400) to $(373)
Provision for income taxes						$71 to $66
Interest expense						$25
Depreciation						$37
Amortization of acquired intangibles						$186
EBITDA						$(81) to $(59)