Docoh
Loading...

TTWO Take-Two Interactive Software

Headquartered in New York City, Take-Two Interactive Software, is a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. Take-Two Interactive Software develops and publish products principally through Rockstar Games, 2K, Private Division, and Social Point. Our products are designed for console systems and personal computers, including smartphones and tablets, and are delivered through physical retail, digital download, online platforms and cloud streaming services.

Company profile

Ticker
TTWO
Exchange
CEO
Strauss Zelnick
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
510350842

TTWO stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

18 May 21
13 Jun 21
31 Mar 22
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Mar 21 Mar 20 Mar 19 Mar 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 2.06B 2.06B 2.06B 2.06B 2.06B 2.06B
Cash burn (monthly) 150.85M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 370.35M n/a n/a n/a n/a n/a
Cash remaining 1.69B n/a n/a n/a n/a n/a
Runway (months of cash) 11.2 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
3 Jun 21 Emerson Daniel P Common Stock Sell Dispose S No No 177.65 4,000 710.6K 37,873
2 Jun 21 Sheresky Michael Common Stock Sell Dispose S No Yes 181.06 196 35.49K 61,088
1 Jun 21 Emerson Daniel P Common Stock Grant Aquire A No No 0 10,133 0 41,873
1 Jun 21 Emerson Daniel P Common Stock Payment of exercise Dispose F No No 182.76 9,256 1.69M 31,740
1 Jun 21 Goldstein Lainie Common Stock Grant Aquire A No No 0 28,955 0 213,874
1 Jun 21 Goldstein Lainie Common Stock Payment of exercise Dispose F No No 182.76 26,735 4.89M 184,919
26 May 21 Dornemann Michael Common Stock Grant Aquire A No No 0 457 0 13,862
26 May 21 Hernandez Roland A Common Stock Grant Aquire A No No 0 314 0 3,317

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

86.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 686 724 -5.2%
Opened positions 81 130 -37.7%
Closed positions 119 60 +98.3%
Increased positions 260 239 +8.8%
Reduced positions 247 254 -2.8%
13F shares
Current Prev Q Change
Total value 17.71B 22.05B -19.7%
Total shares 100.24M 106.14M -5.6%
Total puts 2.23M 2.6M -14.2%
Total calls 1.86M 3.39M -45.1%
Total put/call ratio 1.2 0.8 +56.5%
Largest owners
Shares Value Change
Vanguard 12.42M $2.19B -0.4%
BLK Blackrock 10.59M $1.87B +1.2%
Public Investment Fund 5.64M $996.59M +42.0%
STT State Street 5.34M $944.39M -4.0%
Massachusetts Financial Services 4.23M $746.96M +4.5%
Alliancebernstein 2.87M $507.88M +9.2%
FMR 2.82M $499.1M -19.7%
JPM JPMorgan Chase & Co. 2.35M $414.48M -26.5%
Nuveen Asset Management 2.02M $356.4M +34.1%
Geode Capital Management 2.01M $353.88M +3.1%
Largest transactions
Shares Bought/sold Change
Public Investment Fund 5.64M +1.67M +42.0%
Norges Bank 0 -1.11M EXIT
Artisan Partners Limited Partnership 0 -1.06M EXIT
Swedbank 0 -952.14K EXIT
Renaissance Technologies 425.85K -889.59K -67.6%
JPM JPMorgan Chase & Co. 2.35M -844.38K -26.5%
FMR 2.82M -693.36K -19.7%
GS Goldman Sachs 1.09M +640.34K +142.6%
Nuveen Asset Management 2.02M +512.45K +34.1%
JHG Janus Henderson 706.16K -507.55K -41.8%

Financial report summary

?
Risks
  • Our results of operations may be materially adversely impacted by the coronavirus pandemic (COVID-19).
  • We are dependent on the future success of our Grand Theft Auto products, and we must continue to publish "hit" titles or sequels to such "hit" titles in order to compete successfully in our industry.
  • The interactive entertainment software industry is highly competitive.
  • We are subject to product development risks which could result in delays and additional costs, and we must adapt to changes in software technologies.
  • The inability of our products to achieve significant market acceptance, delays in product releases or disruptions following the commercial release of our products may have a material adverse effect on our business, financial condition and operating results.
  • Our business is subject to our ability to develop commercially successful products for the current video game platforms.
  • Connectivity issues could affect our profitability and our ability to sell and provide online services for our products.
  • We may experience declines or fluctuations in the recurring portion of our business.
  • We rely on complex information technology systems and networks to operate our business. Any significant system or network disruption could have a negative impact on our business.
  • Our business could be adversely affected if our consumer data protection measures are not seen as adequate or there are breaches of our security measures or unintended disclosures of our consumer data.
  • Security breaches involving the source code for our products or other sensitive and proprietary information could adversely affect our business.
  • Our efforts to expand into new products and services may subject us to additional risks.
  • We depend on our key management and product development personnel.
  • Our quarterly and annual operating results are dependent on the release of "hit" titles and therefore dependent on the timing of our product releases, which may cause our quarterly operating results to fluctuate significantly.
  • Price protection granted to our customers and returns of our published titles by our customers, or sales of used video games, may adversely affect our operating results.
  • A limited number of customers account for a significant portion of our sales. The loss of a principal customer or other significant business relationship could seriously hurt our business.
  • Increased competition for limited shelf space and promotional support from retailers could affect the success of our business and require us to incur greater expenses to market our titles.
  • The increasing importance of digital sales exposes us to the risks of that business model, including greater competition.
  • Our business is partly dependent on our ability to enter into successful software development arrangements with third parties.
  • We cannot publish our titles without the approval of hardware licensors that are also our competitors.
  • We rely on a limited number of channel partners some of whom influence the fee structures for online distribution of our games on their platforms.
  • We use open source software in connection with certain of our games and services, which may pose particular risks to our proprietary software, products, and services in a manner that could have a negative impact on our business.
  • We depend on servers and Internet bandwidth to operate our games and digital services with online features. If we were to lose server capacity or lack sufficient Internet bandwidth for any reason, our business could suffer.
  • We submit our products for rating by the Entertainment Software Rating Board ("ESRB") in the United States and other voluntary or government ratings organizations in foreign countries. Failure to obtain a target rating for certain of our products could negatively affect our ability to distribute and sell those games, as could the re-rating of a game for any reason.
  • Content policies adopted by retailers, consumer opposition and litigation could negatively affect sales of our products.
  • Our results of operations or reputation may be harmed as a result of offensive consumer-created content.
  • We face risks from our international operations.
  • If we are unable to protect the intellectual property relating to our software, the commercial value of our products will be adversely affected and our competitive position could be harmed.
  • Our software is susceptible to errors, which can harm our financial results and reputation.
  • If we acquire or invest in other businesses, intellectual properties, or other assets, we may be unable to integrate them with our business, our financial performance may be impaired and/or we may not realize the anticipated financial and strategic goals for such transactions.
  • Our ability to acquire and maintain licenses to intellectual property, especially for sports titles, affects our revenue and profitability. Competition for these licenses may make them more expensive and increase our costs.
  • The laws and regulations concerning data privacy and certain other aspects of our business are continually evolving. Failure to comply with these laws and regulations could harm our business.
  • If we infringe on or are alleged to infringe on the intellectual property rights of third parties, our business could be adversely affected.
  • Our business and products are subject to potential legislation. The adoption of such proposed legislation could limit the retail market for our products.
  • Change in government regulations relating to the Internet could have a negative impact on our business.
  • Declines in consumer spending and other adverse changes in the economy could have a material adverse effect on our business, financial condition and operating results.
  • Changes in our tax rates or exposure to additional tax liabilities could adversely affect our earnings and financial condition.
  • We are subject to risks and uncertainties of international trade, including fluctuations in the values of local foreign currencies against the dollar.
  • Our reported financial results could be adversely affected by the application of existing or future accounting standards to our business as it evolves.
  • Delaware law, our charter documents, and provisions of our debt agreements may impede or discourage a takeover, which could cause the market price of our shares to decline.
  • We are subject to risks related to corporate and social responsibility and reputation.
  • Climate change may have a long-term impact on our business.
  • Additional issuances or sales of equity securities by us would dilute the ownership of our existing stockholders and could adversely affect the market price of our common stock.
Management Discussion
  •     Our Net revenue for fiscal year ended March 31, 2021 was led by titles from a variety of our top franchises, primarily NBA 2K; Grand Theft Auto Online and Grand Theft Auto V; Red Dead Redemption 2 and Red Dead Online; Borderlands 3, and our WWE 2K franchise. Our Net revenue increased to $3,372.8 million, an increase of $283.8 million or 9.2% compared to the fiscal year ended March 31, 2020.
  •     For the fiscal year ended March 31, 2021, our Net income was $588.9 million, as compared to Net income of $404.5 million in the prior year, and includes the reversal of share-based compensation expense of $69.8 million due to forfeitures and a gain of $40.6 million due to primarily the sale of one of our investments. Diluted earnings per share for the fiscal year ended March 31, 2021 was $5.09, as compared to Diluted income per share of $3.54 for the fiscal year ended March 31, 2020. Our operating income for the fiscal year ended March 31, 2021 increased compared to the operating income for fiscal year ended March 31, 2020, due primarily to higher Gross profit, which was due primarily to higher revenue from the titles described above, lower capitalized software amortization as a percentage of net revenue, and lower internal royalties as a percentage of net revenue, partially offset by higher Operating expenses primarily due to higher headcount.
  •     At March 31, 2021, we had $2,060.2 million of Cash and cash equivalents and Restricted cash and cash equivalents, compared to $1,993.4 million at March 31, 2020. The increase in Cash and cash equivalents and Restricted cash and cash equivalents from March 31, 2020 was due primarily to Net cash provided by operating activities from sales primarily from the previously mentioned titles, partially offset by investments in software development and licenses as well as royalty payments. This net increase was partially offset by (i) Net cash used in investing activities primarily related to changes in bank time deposits and net purchases of available for sale securities, our acquisition of Playdots, and purchases of fixed assets and (ii) Net cash used in financing activities, which was primarily related to tax payments related to net share settlements of our restricted stock.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: abide, accident, affinity, ago, Agoura, ARPA, athletic, Austin, benchmarking, biggest, bilateral, candidate, career, celebrating, charitable, chart, check, compassion, comradery, constantly, counseling, CPRA, creditworthy, curtailment, cut, deeply, dental, distance, DPA, Dundee, dynamic, ecosystem, educational, encouraging, eradicate, ethic, exhausted, felt, firmly, forma, formal, formalized, Fortune, foster, Gen, Great, Halifax, hall, harassment, hard, heard, hiring, incentivize, inclined, injustice, interview, job, Jose, Journal, leadership, learning, LGBTIQ, lifting, link, listening, lot, Lunenburg, medical, mental, moderate, moderation, motivate, normalcy, notably, NYC, OlliOlli, overspending, overuse, PLC, pool, Prague, preliminary, prescription, pro, progression, pulse, Pyrmont, racial, readily, Rescue, retaliation, reward, round, scale, standpoint, STEM, strive, strongly, struck, tailored, thirteen, thoughtful, training, transparency, UK, unamortized, unavoidable, underserved, vaccination, valuable, vii, violative, Virginia, vision, Wall, warm, written
Removed: added, applied, ASC, back, collective, commencing, computing, conjunction, contemplated, converted, convertible, define, denominator, dilutive, Directive, disproportionate, equivalent, euro, exit, falling, fashion, GILTI, headquartered, indirectly, initiated, initiative, marketed, merchandising, numerator, obligate, occupied, overallotment, par, participating, phase, prospective, prospectively, prototype, racing, read, reevaluate, reorganizing, requirement, resonate, retrospectively, separation, shortfall, slower, spectrum, sponsorship, sudden, Supreme, taxable, thirty, undergo, unrelated