TAKE-TWO INTERACTIVE SOFTWARE, INC. (TTWO) FY2026 YTD Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-04-01 to 2025-12-31

Swipe to see the full flow
TAKE-TWO INTERACTIVE SOFTWARE, INC. cash flow reconciliation, Apr 1, 2025 through Dec 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Amortization and impairment of intangibles → operating reconciliation: $525,300,000.00Amortization and impairment of software development costs and licenses → operating reconciliation: $282,900,000.00Stock-based compensation → operating reconciliation: $226,900,000.00Deferred revenue → operating reconciliation: $201,000,000.00Depreciation → operating reconciliation: $124,100,000.00Interest expense → operating reconciliation: $114,200,000.00Noncash lease expense → operating reconciliation: $42,300,000.00Other, net → operating reconciliation: $25,800,000.00operating reconciliation → Net cash from operating activities: $388,900,000.00operating reconciliation → Net loss: $238,700,000.00operating reconciliation → Software development costs and licenses: $518,500,000.00operating reconciliation → Accounts payable, accrued expenses and other liabilities: $278,700,000.00operating reconciliation → Prepaid expenses and other current and other non-current assets: $65,900,000.00operating reconciliation → Accounts receivable: $51,800,000.00Issuance of common stock → financing reconciliation: $1,247,000,000.00financing reconciliation → Net cash from financing activities: $644,600,000.00financing reconciliation → Repayment of debt: $600,000,000.00financing reconciliation → Tax payment related to net share settlements on restricted stock awards: $2,400,000.00Net cash used in investing activities → investing reconciliation: $358,800,000.00investing reconciliation → Change in bank time deposits: $189,700,000.00investing reconciliation → Purchases of fixed assets: $126,000,000.00investing reconciliation → Purchases of long-term investments: $21,200,000.00investing reconciliation → Asset acquisitions: $19,900,000.00investing reconciliation → Business acquisitions: $2,000,000.00Exchange-rate effect → Cash sources and uses: $17,900,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $1,559,200,000.00Net cash from operating activities → Cash sources and uses: $388,900,000.00Net cash from financing activities → Cash sources and uses: $644,600,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $2,251,800,000.00Cash sources and uses → Net cash used in investing activities: $358,800,000.00Amortization and impairment of software development costs and licenses: $282,900,000.00Software amort. & impairment+$282.90 MStock-based compensation: $226,900,000.00Stock-based compensation+$226.90 MAmortization and impairment of intangibles: $525,300,000.00Intangible amort. & impairment+$525.30 MOther, net: $25,800,000.00Other non-cash items+$25.80 MNet loss: -$238,700,000.00Net loss−$238.70 MDepreciation: $124,100,000.00Depreciation expense+$124.10 MAccounts payable, accrued expenses and other liabilities: -$278,700,000.00Payables & accrued liabilities−$278.70 MInterest expense: $114,200,000.00Interest expense+$114.20 MNoncash lease expense: $42,300,000.00Operating lease amortization+$42.30 MPrepaid expenses and other current and other non-current assets: -$65,900,000.00Prepaid & other assets−$65.90 MSoftware development costs and licenses: -$518,500,000.00Software development costs−$518.50 MDeferred revenue: $201,000,000.00Deferred revenue+$201.00 MAccounts receivable: -$51,800,000.00Accounts receivable−$51.80 MNet cash from operating activities: $388,900,000.00Operating cash+$388.90 Moperating reconciliation: $1,542,500,000.00Cost of debt: $0.00Payment for settlement of convertible notes: $0.00Issuance of common stock: $1,247,000,000.00Common stock issued+$1.25 BRepayment of debt: -$600,000,000.00Short-term debt repaid−$600.00 MPayment of contingent earn-out consideration: $0.00Proceeds from issuance of debt: $0.00Tax payment related to net share settlements on restricted stock awards: -$2,400,000.00Stock-award tax withholding−$2.40 MNet cash from financing activities: $644,600,000.00Financing cash+$644.60 Mfinancing reconciliation: $1,247,000,000.00Change in bank time deposits: -$189,700,000.00Bank deposits, net−$189.70 MPurchases of fixed assets: -$126,000,000.00PP&E purchases−$126.00 MPurchases of long-term investments: -$21,200,000.00Long-term investment purchases−$21.20 MBusiness acquisitions: -$2,000,000.00Acquisitions, net of cash−$2.00 MDivestitures: $0.00Asset acquisitions: -$19,900,000.00Asset acquisitions−$19.90 MNet cash used in investing activities: -$358,800,000.00. Cash required to fund net payments.Investing cash−$358.80 Minvesting reconciliation: $358,800,000.00Cash sources and uses: $2,610,600,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $1,559,200,000.00Beginning cash$1.56 BEnding cash: Cash, cash equivalents, and restricted cash: $2,251,800,000.00Ending cash$2.25 BExchange-rate effect: $17,900,000.00FX effect+$17.90 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsNet loss −$238.70M + net operating adjustments $627.60M = operating cash +$388.90MFree cash flow$262.90 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change+$692.60 MEnding cash − beginning cash
Chart details

TAKE-TWO INTERACTIVE SOFTWARE, INC. cash flow reconciliation, Apr 1, 2025 through Dec 31, 2025

Cash flows for Apr 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2025. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Mar 31, 2025
1,559,200,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
388,900,000 US dollars. Net cash provided.
Net loss
negative 238,700,000 US dollars
Amortization and impairment of software development costs and licenses
282,900,000 US dollars
Stock-based compensation
226,900,000 US dollars
Amortization and impairment of intangibles
525,300,000 US dollars
Other, net
25,800,000 US dollars
Depreciation
124,100,000 US dollars
Accounts payable, accrued expenses and other liabilities
negative 278,700,000 US dollars
Interest expense
114,200,000 US dollars
Noncash lease expense
42,300,000 US dollars
Prepaid expenses and other current and other non-current assets
negative 65,900,000 US dollars
Software development costs and licenses
negative 518,500,000 US dollars
Deferred revenue
201,000,000 US dollars
Accounts receivable
negative 51,800,000 US dollars
Investing activities
negative 358,800,000 US dollars. Net cash used.
Change in bank time deposits
negative 189,700,000 US dollars
Purchases of fixed assets
negative 126,000,000 US dollars
Purchases of long-term investments
negative 21,200,000 US dollars
Business acquisitions
negative 2,000,000 US dollars
Divestitures
0 US dollars
Asset acquisitions
negative 19,900,000 US dollars
Financing activities
644,600,000 US dollars. Net cash provided.
Cost of debt
0 US dollars
Payment for settlement of convertible notes
0 US dollars
Issuance of common stock
1,247,000,000 US dollars
Repayment of debt
negative 600,000,000 US dollars
Payment of contingent earn-out consideration
0 US dollars
Proceeds from issuance of debt
0 US dollars
Tax payment related to net share settlements on restricted stock awards
negative 2,400,000 US dollars
Operating adjustment reconciliation
1,542,500,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
1,247,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
358,800,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
17,900,000 US dollars
Ending cash on Dec 31, 2025
2,251,800,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
2,610,600,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
692,600,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
388,900,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
126,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
262,900,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$238.70M + net operating adjustments $627.60M = operating cash +$388.90M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 388,900,000 US dollars minus 126,000,000 US dollars equals 262,900,000 US dollars.
TAKE-TWO INTERACTIVE SOFTWARE, INC. (TTWO) FY2026 YTD Q3 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

Newsletter

Get the teardowns by email

Subscribe if you want the public-company teardowns in your inbox when they're released.

Product waitlist

Health Check and Teardown for your own company

A health check uncovers insights of your private books, not a public ticker. Join this list to get notified as soon as we go-live!