TAKE-TWO INTERACTIVE
SOFTWARE, INC.
(NASDAQ: TTWO)
NOVEMBER 2022
1
2
CAUTIONARY NOTE: FORWARD-LOOKING STATEMENTS
Statements contained herein which are not historical facts 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 the Company's 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 acquisition of Zynga; the uncertainty of the impact of the COVID-19 pandemic and measures taken in response thereto; the effect that
measures taken to mitigate the COVID-19 pandemic have on our operations, including our ability to timely deliver our titles and other products, and on
the operations of our counterparties, including retailers and distributors; the effects of the COVID-19 pandemic on both consumer demand and the
discretionary spending patterns of our customers as the situation with the pandemic continues to evolve; the risks of conducting business
internationally; 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; the timely release and significant market acceptance of our games; the ability to maintain
acceptable pricing levels on our games; and risks associated with international operations.
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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COMPANY OVERVIEW
Leading multi-platform developer, publisher and marketer of interactive entertainment, the strongest
growth segment of the entertainment industry
CONSOLE
PC
MOBILE
X
X
X
X
X
X
X
X
X
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OUR APPROACH
OUR STRATEGY OUR CORE TENETS
To create the highest-quality,
most engaging interactive entertainment
franchises in the business and deliver them
across an array of platforms
to captivate our global audience.
CREATIVITY
INNOVATION
EFFICIENCY
OUR STRATEGIC ADVANTAGES TO DRIVE GROWTH
• World-class creative teams that operate on a global scale
• Collaborative culture that empowers our talent and enables creative expression
• Diverse multi-platform portfolio of industry-leading titles and owned intellectual property that span key genres
• Leading global marketing and sales distribution
• Best-in-class live service capabilities that leverage data science to drive user acquisition and recurrent consumer
spending (e.g. virtual currency sales, in-app purchases, advertising)
DIVERSE PORTFOLIO OF
INDUSTRY-LEADING INTELLECTUAL PROPERTY
17 OF THE TOP 200 U.S. GROSSING MOBILE GAMES*
13 FRANCHISES WITH INDIVIDUAL TITLES THAT HAVE SOLD-IN OVER 5 MILLION UNITS
* Source: Sensor Tower Game Intelligence based on in-app purchase revenue, combined App Store and Google Play data from April – June 2022
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6
EXPANDED DEVELOPMENT CAPACITY
* As of March 31 each year. Does not reflect Zynga headcount
DEVELOPMENT STUDIO STAFF HEADCOUNT *
We have significantly expanded our development staff headcount
to support our pipeline, which is the largest in our company’s history.
1,808
1,855
2,119
2,187
2,579
3,269
3,447
4,301
5,079
6,042
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
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EXPANDING MARKET OPPORTUNITY
Source: IDG Consulting, May 2022. Excludes hardware
$205B
$221B
$235B
$249B
$261B
$274B
$282B
2020 2021 2022E 2023E 2024E 2025E 2026E
Mobile Digital PC Digital Console Physical SW (Console + PC)
GLOBAL VIDEO GAME MARKET (In Billions)
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GAMING INDUSTRY HAS STRONG SECULAR TAILWINDS
Source: App Annie, IDG Consulting, ESA, Newzoo, Streamlabs and Stream Hatchet
* Includes mobile, digital PC, digital console and physical software (PC + Console)
There were
3.0 BILLION
global video game
players in 2021
653
MILLION
HOURS
of gameplay watched on average each
week across Twitch,Youtube Gaming
and Facebook Gaming
in 2021
4%
Total global
video game players
CAGR expected from 2021-2024
Interactive entertainment market
estimated at
~$221 BILLION*
in 2021
Interactive entertainment is the
#1
entertainment vertical
Average age of a gamer is
31
YEARS OLD
There were nearly
83 BILLION
mobile game downloads
in 2021
Mobile gaming market
estimated at
~$131 BILLION
in Gross Bookings in 2021
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• Groundbreaking blockbuster titles
• Focused on internally owned and developed IP
• 10 internal studios
ROCKSTAR GAMES
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ROCKSTAR GAMES: DIVERSE PORTFOLIO OF INDUSTRY-LEADING OWNED
INTELLECTUAL PROPERTY
* The NPD Group, Retail & Digital Games Tracking Services: 3 Years ending March 2022
• One of the most successful, iconic and critically acclaimed brands in
all of entertainment
• Pioneered the open-world genre
• Franchise has sold-in over 385 million units
THE GRAND THEFT AUTO FRANCHISE
• Over 170 million units sold-in to date
• Released across an unprecedented three console generations
• Reached $1 billion in retail sales faster than any entertainment
release in history
• Best-selling game of the past 10 years in the U.S., based on both unit
and dollar sales*
GRAND THEFT AUTO V
• Ever-changing world, driven by the regular release of free updates
(over 40 to date)
• Free with every copy of Grand Theft Auto V
• Standalone version launched March 15, 2022
• Successfully launched GTA+ membership program in March 2022
GRAND THEFT AUTO ONLINE
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ROCKSTAR GAMES: DIVERSE PORTFOLIO OF INDUSTRY-LEADING OWNED
INTELLECTUAL PROPERTY
* The NPD Group, Retail & Digital Games Tracking Services: 5 Years ending March 2022
THE RED DEAD REDEMPTION FRANCHISE
• Franchise has sold-in over 70M units worldwide
• Red Dead Redemption 2 sold-in over 46M units
• Red Dead Redemption 2: 2nd best-selling title in US in past 5 years
based on dollar sales*
• Red Dead Online free with every copy of Red Dead Redemption 2
• Released standalone version of Red Dead Online in December 2020
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ROCKSTAR GAMES: DIVERSE PORTFOLIO OF INDUSTRY-LEADING OWNED
INTELLECTUAL PROPERTY
• Utilized revolutionary facial animation
technology and deep story to blur the
lines between film and games
• First video game to be an official
selection of the Tribeca Film Festival
• L.A. Noire: The VR Case Files is one of
the industry’s top-rated virtual reality
experiences
L.A. NOIRE
• The Midnight Club franchise created
the open-city street racing genre
MIDNIGHT CLUB
• Rockstar Games’ most technologically
sophisticated and cinematic action-
shooter to date
• Announced that Remedy
Entertainment, the creators of Max
Payne, will remake the iconic Max
Payne and Max Payne 2: The Fall of
Max Payne video games in a new
project agreement with Rockstar
Games
MAX PAYNE
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• Sports, shooter, action, role-playing and strategy titles
• Owned IP and long-term licensed brands
• 7 wholly owned studios, some of which have multiple locations
• Relationships with top external studios
2K
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NBA 2K FRANCHISE
* The NPD Group, Retail & Digital Games Tracking Services: October 2000-March 2022
BEST-SELLING
basketball simulation
property based
on dollar sales
and units in the US*
FRANCHISE
EXTENDED
with NBA 2K Online
in China, NBA 2K
Playgrounds 2,
NBA 2K Mobile, NBA 2K for Apple
Arcade, and NBA SuperCard
NBA 2K League,
THE FIRST COMPETITIVE
GAMING LEAGUE
jointly owned by
a U.S. professional
sports league,
debuted in May 2018
Franchise has
sold-in over
130 MILLION
units worldwide
One of the
TOP
CONTRIBUTORS
to TTWO’s recurrent
consumer spending
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2K: DIVERSE PORTFOLIO OF INDUSTRY-LEADING
INTELLECTUAL PROPERTY
• Critically acclaimed, shooter-looter title
• Franchise has sold-in over 77M units
• Borderlands 3 is 2K’s fastest selling title and has
sold-in over 16M units to date
• Borderlands 2 is 2K’s top-selling title with nearly
27M units sold-in to date
BORDERLANDS
• Unique, artistic, narrative-driven shooter
• Franchise has sold-in nearly 41 million units
• Every game in the BioShock franchise has received
perfect review scores from an
accredited/Metacritic level media outlet
BIOSHOCK
• One of world’s top strategy titles for PC
• Franchise has sold-in over 63 million units
• Successful expansion packs
SID MEIER’S CIVILIZATION
• All-new, fantasy-fueled offering that has taken
our partnership with Gearbox Software to new
creative heights
• Viewed as best new franchise from 2K in several
years
• Being supported with four DLC packs in Fiscal
2023
TIINY TINA'S WONDERLANDS
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2K: DIVERSE PORTFOLIO OF INDUSTRY-LEADING
INTELLECTUAL PROPERTY
*The NPD Group, Retail & Digital Games Tracking Services: October 2000 – March 2022
** Metacritic
*** The NPD Group, Retail & Digital Games Tracking Services: October 2000 – March 2022
• Authentic, action-packed gangster saga
• The first Mafia game received numerous industry
awards and nominations recognizing its
gameplay, soundtrack, storyline and graphics
MAFIA
• Reimagined classic franchise as critically
acclaimed, turn-based strategy game
XCOM
• Successful, long-running World Wrestling
Entertainment video game franchise
• WWE SuperCard is 2K’s highest-grossing mobile
game with more than 27 million downloads
• In terms of units in the US, WWE 2K22 had the
best Month 1 of any title in WWE 2K franchise
history***
WWE 2K
• PGA TOUR 2K23 successfully launched in October
2022, with Tiger Woods appearing exclusively in
the franchise and serving as Executive
Director/consultant through a long-term
partnership
• PGA TOUR 2K21 sold-in over 3 million units to-
date. The title was the third best-selling golf
game in tracked history based on units in the US*
and the highest-rated golf simulation of the
current console generation**
PGATOUR 2K
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Publishing label focused on bringing titles from the industry’s leading
creative talent to market
PRIVATE DIVISION
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PRIVATE DIVISION KEY RELEASES & PROJECTS
• Private Division owns and publishes
the critically-acclaimed Kerbal Space
Program and the upcoming Kerbal
Space Program 2
• On June 24
th
, 2021, the beloved space
simulation title celebrated 10 years
from its original launch
• Private Division owns and operates
Intercept Games, based in Seattle, a
team charged with working on games
set in the Kerbal universe
KERBAL SPACE PROGRAM FRANCHISE
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PRIVATE DIVISION KEY RELEASES & PROJECTS
FORTHCOMING GAMES TO BE RELEASED FROM OWNED STUDIOS AND RENOWNED INDEPENDENT DEVELOPERS
ROLL7’S OLLIOLLIWORLD & ROLLERDROME
• The label’s recently-acquired studio,
Roll7, launched OlliOlli World in
February, which received significant
critical praise for its unique art style
and tight gameplay mechanics. The
game’s first DLC, VOID Riders, was
similarly beloved by critics. The game’s
second and final DLC launches later
this year
• Roll7 launched Rollerdrome in August.
This original hybrid shooter-skater
blends high octane combat with fluid
movement and tricking mechanics
THE OUTER WORLDS
• Launched The Outer Worlds by
Obsidian Entertainment, including the
Peril on Gorgon DLC and the Murder
on Eridanos DLC
• The beloved sci-fi RPG received critical
praise and was awarded 2019 Game of
the Year by the New York Video Game
Critic’s Circle
AND MORE TO BE ANNOUNCED
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• Pioneer in social gaming and a leading mobile game
publisher
• Diverse portfolio of highly-engaging, top-grossing games
• Global player base across 175+ countries
• Successful track record of M&A execution
ZYNGA
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LEADING PORTFOLIO OF SOCIAL GAMES
* CSR Racing franchise launched in 2012
** FarmVille franchise launched in 2009
Harry Potter: Puzzles & Spells
Studio: Zynga
Launch: 2020
A magical match-3 adventure brimming with the
spells, humor, color and characters of the Harry
Potter™ series.
Golf Rival
Studio: StarLark
Launch: 2018
A real-time player versus-player golfing game, with
multiplayer tournaments on spectacular courses
with customizable equipment.
Toon Blast
Studio: Peak
Launch: 2017
A level-based puzzle game where players create
powerful combinations and progress through
challenging obstacles as they travel through an
immersive, magical cartoon world.
Toy Blast
Studio: Peak
Launch: 2015
A fascinating color-matching puzzle game where
players eliminate toy blocks and test their skills
through challenging levels.
Merge Dragons!
Studio: Gram Games
Launch: 2017
A puzzle adventure game where our players can
match and merge everything to produce artifacts
and skills in furtherance of healing a magical land,
harnessing the power of dragons and building their
own camp to grow dragons.
Merge Magic!
Studio: Gram Games
Launch: 2019
A puzzle adventure game where players can lift the
curse on mysterious new worlds and collect
whimsical characters while solving fun puzzles and
unlocking enchanting new surprises along the way.
FarmVille 3
Studio: Zynga
Launch: 2021**
A franchise of games where players can invest in a
world all their own and express themselves by
building, expanding and nurturing their own virtual
farm.
Empires & Puzzles
Studio: Small Giant Games
Launch: 2017
A blend of approachable match-3 battles and
deeper gameplay elements including hero
collection, base building, and social alliances.
CSR Racing 2
Studio: NaturalMotion
Launch: 2016*
A visually stunning, fast-paced racing, game
allowing players to customize their collection of
supercars and race against their friends.
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LEADING PORTFOLIO OF SOCIAL GAMES
* WWF franchise launched in 2009
** Source: Sensor Tower Game Intelligence, Combined App Store and Google Play Data
Hyper-casual
Studio: Rollic
A portfolio of highly accessible games that offer
instant gameplay and appeal to broad audiences
globally. These games include breakout hits such as
Hair Challenge, High Heels and Tangle Master.
Casual Cards
Studio: Zynga Turkey
A collection of classic single player and tournament
style card games including Solitaire, Gin, Spades,
and Okey with communities of skilled players.
Top Eleven
Studio: Nordeus
Launch: 2011
The world’s most successful mobile soccer
management game. Provides a platform for
creating and managing soccer clubs, including daily
competitions with a global community.
Two Dots
Studio: Zynga
Launch: 2014
Downloaded 115+ million times, with over 4,025
levels of content. Selected as an Editor’s Choice in
Google Play Store and Apple App Store.
Dragon City
Studio: Socialpoint
Launch: 2012
Originally launched on Facebook in 2012 and
mobile in January 2013. Has consistently ranked
among the top 15 grossing Simulation games
worldwide for more than 8 years.**
Monster Legends
Studio: Socialpoint
Launch: 2013
Consistently charted in the annual top-200 grossing
U.S. mobile games and top-20 grossing simulation
games globally.*
Social Slots
Studio: Zynga
A portfolio of slots games that deliver players
authentic, Vegas-style mobile gameplay with a
diverse mix of popular entertainment brands.
Zynga Poker
Studio: Zynga
Launch: 2007
An exciting card game that allows players to
experience the thrill of the win as they compete
against friends and family in one of their favorite
casino card games.
Words With Friends
Studio: Zynga
Launch: 2017*
A word game featuring friendly competition that
allows players to quickly connect with their friends
and family, while also providing the opportunity to
build relationships throughout the game
experience.
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APPROACH TO LIVE SERVICES
PROVEN FORMULA
OUR APPROACH
THE LIVE SERVICES FOUNDATION
Data Science Product Management User Acquisition Monetization VIP, Partnerships, and More
STRONG
GAME TEAMS
EXPERTS
IN FREE-TO-PLAY
DIVERSIFIED
PORTFOLIO
Acquisition MonetizationRetentionEngagement Lifetime Value
+ + + =
Through our unique approach, user acquisition spend is allocated among studios by delivering bold beats that hit key KPIs
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DIVERSIFIED LIVE SERVICES PORTFOLIO
PROVEN BRANDS ACROSS POPULAR CATEGORIES
BOLD BEAT STRATEGY
Bold Beats are new content and game play modes designed to attract new audiences, deepen engagement for
current players, and bring back lapsed players
Our studio teams are continually investing in robust bold beat roadmaps
that are rigorously tested with data science
ACTION
STRATEGY
CASUAL
INVEST EXPRESS
SOCIAL CASINO
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APPROACH TO HYPER-CASUAL
Hyper-casual has rapidly grown to become one of the largest and
fastest growing categories in mobile
As one of the largest hyper-casual publishers in the world, Rollic has
created a unique development process that leverages data insights
and rigorous testing to repeatedly design and publish new,
successful hyper-casual titles at a regular cadence
Key benefits include:
• Allows us to significantly grow our audience base and cross-
promote our titles
• Expands and diversifies our advertising business
• Functions as a mitigant to recent data privacy changes
• Acts as a growth driver for Asia, given current market dynamics
2B+
LIFETIME
DOWNLOADS
154M+
HIGH HEELS!
DOWNLOADS
TANGLE MASTER 3D
181M+
DOWNLOADS
HAIR CHALLENGE
244M+
DOWNLOADS
OUR STRATEGIES
TO DRIVE GROWTH
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COMPANY GROWTH DRIVERS
KEY BUSINESS DRIVERS TO GROW OUR SCALE AND ENHANCE OUR MARGINS
• Investing in the strongest development pipeline in the Company’s history
• Promoting engagement and growth in recurrent consumer spending
• Creating value from our combination with Zynga by:
• Leveraging Zynga’s best-in-class platform across an expanded portfolio of mobile titles
• Unlocking significant revenue opportunities and cost synergies that have the potential to meaningfully
enhance Take-Two’s profitability
• Pursuing various emerging opportunities, geographies, and new businesses
• Continued focus on M&A to enhance growth potential and deliver long-term shareholder value, following a
successful track record of transactions
Strong fundamentals and a healthy balance sheet position us for a long-term
trajectory of growth
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INVESTING IN THE STRONGEST DEVELOPMENT PIPELINE IN THE COMPANY’S HISTORY
* FY23-25 title count release estimates provided as of May 16, 2022 (however, mobile titles were updated on August 8, 2022 to reflect Zynga); Full
updated FY24/25 pipeline details to be given with Q4 FY2023 results
** Mobile count excludes Rollic’s portfolio of hypercasual games.
These titles are a snapshot of our current development pipeline. It is likely that some of these titles will not be developed through completion, that
launch timing may change, and that we will also be adding new titles to our slate
FY 2023 – FY
2025*
TITLE ANNOUNCED TO-DATE
Immersive Core
Independent
Mobile**
(Titles in development & soft
launch)
Mid Core
New Iterations
of Previously Released
Titles
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• The Quarry (2K) – Launched June 10, 2022 (Fiscal 2023)
• NBA 2K23 (2K) – Launched September 9, 2022 (Fiscal 2023)
• PGA TOUR2K23 (2K) – Launched October 14, 2022 (Fiscal 2023)
• Marvel’s Midnight Suns (2K) – Launching December 2, 2022 (Fiscal 2023) (PS5, Xbox Series X/S, PC); TBA
(PS4, Xbox One, Switch)
• Kerbal Space Program 2 (Private Division) – Early Access Launching February 24, 2023 for PC (Fiscal 2023)
• WWE 2K23 (2K) – Launching Fiscal 2023
10
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7
8
• Grand Theft Auto: The Trilogy – The Definitive Edition (Rockstar Games)
• Several Zynga titles in soft-launch, including Star Wars Hunters
• New Tales from the Borderlands (2K) – Launched October 21, 2022 (Fiscal 2023)
• Rollerdrome (Private Division) – Launched August 16, 2022 (Fiscal 2023)
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PIPELINE DEFINITIONS
Titles that have the deepest gameplay and the most hours of content. Examples include our key sports franchises
(like PGA 2K and NBA 2K) as well as Grand Theft Auto and Red Dead Redemption (to name a few).
IMMERSIVE CORE
Externally developed Private Division releases.
INDEPENDENT
Any title released on a mobile platform.
MOBILE
Titles that are either an arcade title (like WWE Battlegrounds) or games that have many hours of gameplay, but not to
the same extent as an immersive core title.
MID-CORE
This includes ports and remastered titles. Sequels would not fall into this category.
NEW ITERATIONS OF PRIOR RELEASES
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PROMOTING ENGAGEMENT AND GROWTH IN RECURRENT CONSUMER SPENDING
MOBILE CONSOLE/PC TITLES
KEY GROWTH DRIVERS:
• Enhance Live Services across entire Zynga portfolio
(including legacy T2 Mobile games)
• Create new games
• Expand hyper-casual
• Pursue high-growth and emerging mobile markets
• Grow advertising
• Test new business models
• Explore select mobile M&A opportunities
KEY GROWTH DRIVERS:
• Drive virtual currency sales in existing games, with NBA 2K
and Grand Theft Auto Online the two largest individual
contributors to RCS
• Create add-on content for key titles, including Season
Passes and DLC packs
• Develop a post-launch monetization plan for each new title
in our pipeline
• Deliver select free-to-play console games
• Bring select mobile titles to console/PC
$ $
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LEVERAGING ZYNGA’S BEST-IN-CLASS PLATFORM ACROSS AN EXPANDED PORTFOLIO
OF MOBILE TITLES
PLAYERS
DIVERSIFIED GAMES PORTFOLIO GLOBAL STUDIOS
Global Player Base Top 5 Mobile Game Publisher in the World Deep Publishing Expertise
BUILD SCALE ENGAGE, RETAIN & MONETIZE
• Product Management
• Data Science
• Chartboost Demand
Side Platform
• Zynga Identity Service
• Chartboost Supply Side
Platform
• VIP & Partnership Teams
• Analytics & Publishing
Tools
• Consumer Insights
TALENT, TOOLS & TECHNOLOGY
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UNLOCKING SIGNIFICANT REVENUE OPPORTUNITIES AND COST SYNERGIES FROM
ZYNGA COMBINATION
NET BOOKINGS OPPORTUNITIES
• We believe we can deliver over $500 million of annual Net Bookings opportunities over time by:
• Implementing new bold beats, driven by new content and other live-service enhancements
• Cross-promoting content to a broader & more diversified audience
• Creating a centralized library for development technologies and tools
• Acquiring new users more efficiently by leveraging the Chartboost demand-side platform
• Enhancing the monetization of in-game advertising by using Chartboost’s supply-side platform
• Introducing mobile games for some of our most popular and proven intellectual properties
• Establishing a more meaningful presence in key mobile-first emerging markets
• Further focusing on innovation and emerging business models
COST SYNERGIES
• We expect to deliver over $100 million of annual cost synergies within the first two years post-close by:
• Reducing duplicative corporate overhead and contracts
• Consolidating systems
• Rationalizing our real estate footprint
• Leveraging Zynga's marketing functions across our other mobile businesses
• Exploring additional areas of efficiencies
33
PURSUING VARIOUS EMERGING OPPORTUNITIES AND NEW BUSINESS OPPORTUNITIES
SUBSCRIPTIONS DIRECT TO CONSUMER STREAMING/CLOUD
GAMING
ESPORTS GROWTH MARKETS EMERGING
OPPORTUNITIES (WEB3)
34
CONTINUED FOCUS ON M&A TO ENHANCE GROWTH POTENTIAL AND DELIVER LONG-
TERM SHAREHOLDER VALUE
RECENT ACQUISITIONS
2017
FY
(Hookbang)
2018
FY
2019
FY
2020
FY
2021
FY
2022
FY
2023
FY
OUR FINANCIALS
36
DRIVING LONG-TERM NET BOOKINGS GROWTH
$1,010
$1,199
$1,577
$2,322
$2,180
$981
$1,730
$1,413
$1,231
$1,228
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
$2,929
$2,990
$3,553
$1,991
$3,408
RECURRENT CONSUMER
SPENDING CAGR: +21%
CAGR:
FY2018-FY2022
Recurrent Consumer SpendingFull Game & Other Sales
($ in Millions)
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NET BOOKINGS ARE DIVERSIFIED ACROSS VARIOUS PLATFORMS
MOBILE: 12%
% OF FY2022
NET BOOKINGS
$1,612
$2,502
$2,198
$2,637
$2,440
$240
$243
$602
$617
$563
$139
$184
$191
$405
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
Console PC and Other Mobile
$299
PC: 17%
CONSOLE: 71%
$2,929
$2,990
$3,553
$1,991
$3,408
($ in Millions)
38
OUR BUSINESS IS HIGHLY CASH GENERATIVE
* During Q2 FY19, the Company began reporting a Non-GAAP measure of financial performance: Adjusted Unrestricted Operating Cash Flow, which is defined as GAAP net cash from
operating activities, adjusted for changes in restricted cash. Prior periods have been restated in the chart above. Please see the slide titled “Non-GAAP Financial Measure” for additional
information and a reconciliation to GAAP
ADJUSTED UNRESTRICTED
OPERATING CASH FLOW (NON-GAAP) *
AND CAPITAL EXPENDITURES
($ in Millions)
CASH & EQUIVALENTS
($ in Millions)
$394
$715
$615
$920
$425
$62
$67
$53
$69
$159
FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
Adjusted Unrestricted Operating Cash Flow Capital Expenditures
• Our mission is to be the most creative, innovative, and
efficient entertainment company in the world
OUR CULTURE
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OUR RECOGNITIONS
41
OUR COMMITMENT TO PHILANTHROPY
We are committed to supporting numerous charitable organizations throughout the
world
42
GIVING BACK AT TAKE-TWO
We recognize our responsibility and capacity to help be a force for good within our society. Whether supporting
international, national, or local organizations in the areas where we operate, our Company’s efforts include:
• Industry-wide initiatives led by the Entertainment Software Association
• Educational programs, especially for students in underserved
communities, to develop STEM and creative skills that can be helpful in
pursuing related college degrees and future positions within our industry
• Programs that promote and influence diversity, equity, and inclusion in
the industry and workplace
• Chambers of commerce, food pantries and shelters, and youth programs
• Employee volunteerism opportunities around environmental
sustainability, mentoring, and preparing and serving meals to those in
need
43
NON-GAAP FINANCIAL MEASURE
In addition to reporting financial results in accordance with U.S. generally accepted accounting principles (GAAP), the Company uses a Non-GAAP
measure of financial performance: Adjusted Unrestricted Operating Cash Flow, which is defined as GAAP net cash from operating activities, adjusted
for changes in restricted cash. 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.
This Non-GAAP financial measure is not intended to be considered in isolation from, as a substitute for, or superior to, GAAP results. This Non-GAAP
financial measure 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 this Non-GAAP financial measure used by the Company.
Management believes that the presentation of this Non-GAAP financial measure provides investors with additional useful information to measure
Take-Two’s financial and operating performance. In particular, this measure facilitates comparison of our operating performance between periods and
may help investors to understand better the operating results of Take-Two. Internally, management uses this Non-GAAP financial measure in assessing
the Company’s operating results and in planning and forecasting. A reconciliation of this Non-GAAP financial measure to the most comparable GAAP
measure is contained in the chart below.
TAKE-TWO INTERACTIVE SOFTWARE, INC.
AND SUBSIDIARIES RECONCILIATION OF
GAAP TO NON-GAAP MEASURE
(in thousands)
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