Take-Two Interactive Software(TTWO) - 2021 Q4 - Earnings Call Presentation

Financial Performance Highlights - GAAP net revenue for Q4 FY21 reached $839 million, exceeding guidance of $702 to $752 million[4] - GAAP net revenue for FY21 was $3,373 million, surpassing guidance of $3,235 to $3,285 million[4] - Net bookings for Q4 FY21 were $785 million, exceeding guidance of $602 to $652 million[10] - Net bookings for FY21 reached $3,553 million, exceeding initial guidance by approximately $1 billion[8,10] - Adjusted Unrestricted Operating Cash Flow (AUOCF) for FY21 reached $920 million, exceeding initial expectations of over $750 million[8,10] Revenue and Bookings Composition - Recurrent Consumer Spending (RCS) accounted for 63% of net bookings in FY21, a new record level[8] - Digitally delivered net bookings exceeded expectations due to the outperformance of RCS and digitally-delivered game sales[7,8] - Recurrent Consumer Spending grew by 17% in Q4 FY21 and 48% in FY21[10] - Digitally-Delivered Net Bookings Growth increased by 8% in Q4 FY21 and 27% in FY21[10] FY22 Guidance - The company projects net bookings for FY22 to be between $3,200 million and $3,300 million[14] - The company anticipates Recurrent Consumer Spending to decrease by 15% year-over-year in FY22[34] - The company expects Digitally-Delivered Net Bookings Growth to decrease by 8% year-over-year in FY22[36] - The company is making significant investments in marketing, personnel, and IT to bring its pipeline to market[39]