GameStop Reports Fourth Quarter and Fiscal Year 2025 Results
Grapevine, TX — GameStop Corp. released financial results for the fourth quarter and fiscal year ended January 31, 2026.
FOURTH QUARTER OVERVIEW
- Net sales were $1.104 billion for the fourth quarter, compared to $1.283 billion in the prior year’s fourth quarter.
- Selling, general and administrative (“SG&A”) expenses were $241.5 million for the fourth quarter, compared to $282.5 million in the prior year’s fourth quarter.
- Operating income was $135.2 million for the fourth quarter, compared to $79.8 million in the prior year’s fourth quarter.
- Excluding impairment and other items, adjusted operating income was $147.7 million for the fourth quarter, compared to $84.4 million in the prior year’s fourth quarter.
- Net income was $127.9 million for the fourth quarter, compared to $131.3 million in the prior year’s fourth quarter.
- Excluding impairment, loss on digital assets and related receivables, and other items, adjusted net income was $291.4 million for the fourth quarter, compared to $136.4 million for the prior year’s fourth quarter.
- Cash, cash equivalents and marketable securities were $9.0 billion at the close of the quarter compared to $4.8 billion at the close of the prior year’s fourth quarter.
- Bitcoin and related receivables were valued at $368.4 million at the close of the quarter.
FULL YEAR OVERVIEW
- Net sales were $3.630 billion for fiscal year 2025, compared to $3.823 billion in fiscal year 2024.
- SG&A expenses were $910.2 million for fiscal year 2025, compared to $1.130 billion in fiscal year 2024.
- Operating income was $232.1 million for fiscal year 2025, compared to an operating loss of $26.2 million in fiscal year 2024.
- Excluding impairment and other items, adjusted operating income was $289.5 million for fiscal year 2025, compared to an adjusted operating loss of $26.8 million in fiscal year 2024.
- Net income was $418.4 million for fiscal year 2025, compared to $131.3 million in fiscal year 2024.
- Excluding impairment, loss on digital assets and related receivables, non cash interest expense related to the issuance of warrants to Convertible Noteholders, and other items, adjusted net income was $647.4 million for fiscal year 2025, compared to $131.2 million in fiscal year 2024.
The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-K.
|
GameStop Corp. |
||||||||
|
|
|
13 Weeks Ended January 31, 2026 |
|
13 Weeks Ended February 1, 2025 |
||||
|
Net sales |
|
$ |
1,104.3 |
|
|
$ |
1,282.6 |
|
|
Cost of sales |
|
|
717.5 |
|
|
|
919.2 |
|
|
Gross profit |
|
|
386.8 |
|
|
|
363.4 |
|
|
Selling, general and administrative expenses |
|
|
241.5 |
|
|
|
282.5 |
|
|
Asset impairments |
|
|
10.1 |
|
|
|
1.1 |
|
|
Operating income |
|
|
135.2 |
|
|
|
79.8 |
|
|
Interest income, net |
|
|
(86.0 |
) |
|
|
(54.8 |
) |
|
Loss on digital assets and related receivables |
|
|
151.0 |
|
|
|
— |
|
|
Other income, net |
|
|
(6.8 |
) |
|
|
— |
|
|
Income before income taxes |
|
|
77.0 |
|
|
|
134.6 |
|
|
Income tax (benefit) expense, net |
|
|
(50.9 |
) |
|
|
3.3 |
|
|
Net income |
|
$ |
127.9 |
|
|
$ |
131.3 |
|
|
|
|
|
|
|
||||
|
Net income per share: |
|
|
|
|
||||
|
Basic net income per share |
|
$ |
0.29 |
|
|
$ |
0.29 |
|
|
Diluted net income per share |
|
|
0.22 |
|
|
|
0.29 |
|
|
|
|
|
|
|
||||
|
Weighted average common shares outstanding: |
|
|
|
|
||||
|
Basic |
|
|
448.1 |
|
|
|
446.9 |
|
|
Diluted |
|
|
592.0 |
|
|
|
447.7 |
|
|
|
|
|
|
|
||||
|
Percentage of Net Sales: |
|
|
|
|
||||
|
Net sales |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
Cost of sales |
|
|
65.0 |
% |
|
|
71.7 |
% |
|
Gross profit |
|
|
35.0 |
% |
|
|
28.3 |
% |
|
Selling, general and administrative expenses |
|
|
21.9 |
% |
|
|
22.0 |
% |
|
Asset impairments |
|
|
0.9 |
% |
|
|
0.1 |
% |
|
Operating income |
|
|
12.2 |
% |
|
|
6.2 |
% |
|
Interest income, net |
|
|
(7.8 |
)% |
|
|
(4.3 |
)% |
|
Loss on digital assets and related receivables |
|
|
13.7 |
% |
|
|
— |
% |
|
Other income, net |
|
|
(0.6 |
)% |
|
|
— |
% |
|
Income before income taxes |
|
|
7.0 |
% |
|
|
10.5 |
% |
|
Income tax (benefit) expense, net |
|
|
(4.6 |
)% |
|
|
0.3 |
% |
|
Net income |
|
|
11.6 |
% |
|
|
10.2 |
% |
|
GameStop Corp. |
||||||||
|
|
|
52 Weeks Ended January 31, 2026 |
|
52 Weeks Ended February 1, 2025 |
||||
|
Net sales |
|
$ |
3,629.9 |
|
|
$ |
3,823.0 |
|
|
Cost of sales |
|
|
2,433.8 |
|
|
|
2,709.1 |
|
|
Gross profit |
|
|
1,196.1 |
|
|
|
1,113.9 |
|
|
Selling, general and administrative expenses |
|
|
910.2 |
|
|
|
1,130.4 |
|
|
Asset impairments |
|
|
53.8 |
|
|
|
9.7 |
|
|
Operating income (loss) |
|
|
232.1 |
|
|
|
(26.2 |
) |
|
Interest income, net |
|
|
(271.5 |
) |
|
|
(163.4 |
) |
|
Loss on digital assets and related receivables |
|
|
131.6 |
|
|
|
— |
|
|
Other income, net |
|
|
(12.0 |
) |
|
|
— |
|
|
Income before income taxes |
|
|
384.0 |
|
|
|
137.2 |
|
|
Income tax (benefit) expense, net |
|
|
(34.4 |
) |
|
|
5.9 |
|
|
Net income |
|
$ |
418.4 |
|
|
$ |
131.3 |
|
|
|
|
|
|
|
||||
|
Net income per share: |
|
|
|
|
||||
|
Basic net income per share |
|
$ |
0.93 |
|
|
$ |
0.33 |
|
|
Diluted net income per share |
|
|
0.77 |
|
|
|
0.33 |
|
|
|
|
|
|
|
||||
|
Weighted average common shares outstanding: |
|
|
|
|
||||
|
Basic |
|
|
447.6 |
|
|
|
394.1 |
|
|
Diluted |
|
|
549.1 |
|
|
|
394.7 |
|
|
|
|
|
|
|
||||
|
Percentage of Net Sales: |
|
|
|
|
||||
|
Net sales |
|
|
100.0 |
% |
|
|
100.0 |
% |
|
Cost of sales |
|
|
67.0 |
% |
|
|
70.9 |
% |
|
Gross profit |
|
|
33.0 |
% |
|
|
29.1 |
% |
|
Selling, general and administrative expenses |
|
|
25.1 |
% |
|
|
29.6 |
% |
|
Asset impairments |
|
|
1.5 |
% |
|
|
0.3 |
% |
|
Operating income (loss) |
|
|
6.4 |
% |
|
|
(0.7 |
)% |
|
Interest income, net |
|
|
(7.5 |
)% |
|
|
(4.3 |
)% |
|
Loss on digital assets and related receivables |
|
|
3.6 |
% |
|
|
— |
% |
|
Other income, net |
|
|
(0.3 |
)% |
|
|
— |
% |
|
Income before income taxes |
|
|
10.6 |
% |
|
|
3.6 |
% |
|
Income tax (benefit) expense, net |
|
|
(0.9 |
)% |
|
|
0.2 |
% |
|
Net income |
|
|
11.5 |
% |
|
|
3.4 |
% |
|
GameStop Corp. |
|||||||||||||||||||
|
|
|
United States |
|
Canada |
|
Australia |
|
Europe |
|
Total |
|||||||||
|
As of and for the three months ended January 31, 2026 |
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Net sales |
|
$ |
788.5 |
|
|
$ |
— |
|
$ |
161.7 |
|
|
$ |
154.1 |
|
|
$ |
1,104.3 |
|
|
Cost of sales |
|
|
492.5 |
|
|
|
— |
|
|
107.9 |
|
|
|
117.1 |
|
|
|
717.5 |
|
|
Gross Profit |
|
|
296.0 |
|
|
|
— |
|
|
53.8 |
|
|
|
37.0 |
|
|
|
386.8 |
|
|
Selling, general and administrative expenses: |
|
|
165.0 |
|
|
|
— |
|
|
44.0 |
|
|
|
32.5 |
|
|
|
241.5 |
|
|
Store related |
|
|
124.1 |
|
|
|
— |
|
|
36.4 |
|
|
|
31.5 |
|
|
|
192.0 |
|
|
Other |
|
|
40.9 |
|
|
|
— |
|
|
7.6 |
|
|
|
1.0 |
|
|
|
49.5 |
|
|
Asset impairments |
|
|
1.1 |
|
|
|
— |
|
|
2.3 |
|
|
|
6.7 |
|
|
|
10.1 |
|
|
Operating income (loss) |
|
|
129.9 |
|
|
|
— |
|
|
7.5 |
|
|
|
(2.2 |
) |
|
|
135.2 |
|
|
Interest income, net |
|
|
|
|
|
|
|
|
|
|
(86.0 |
) |
|||||||
|
Loss on digital assets and related receivables |
|
|
|
|
|
|
|
|
|
|
151.0 |
|
|||||||
|
Other income, net |
|
|
|
|
|
|
|
|
|
|
(6.8 |
) |
|||||||
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
77.0 |
|
|||||||
|
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
(50.9 |
) |
|||||||
|
Net income |
|
|
|
|
|
|
|
|
|
|
127.9 |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Property and equipment, net(1) |
|
|
(2.3 |
) |
|
|
— |
|
|
(0.6 |
) |
|
|
— |
|
|
|
(2.9 |
) |
|
Capital expenditures |
|
|
5.4 |
|
|
|
— |
|
|
0.8 |
|
|
|
— |
|
|
|
6.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
(1) Property and equipment, net for France (Europe) is classified as Assets held for sale in our Consolidated Balance Sheets. |
|||||||||||||||||||
|
|
|
United States |
|
Canada |
|
Australia |
|
Europe |
|
Total |
|||||||||
|
As of and for the three months ended February 1, 2025 |
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Net sales |
|
$ |
861.1 |
|
$ |
77.7 |
|
|
$ |
148.2 |
|
|
$ |
195.6 |
|
|
$ |
1,282.6 |
|
|
Cost of sales |
|
|
601.2 |
|
|
59.2 |
|
|
|
103.8 |
|
|
|
155.0 |
|
|
$ |
919.2 |
|
|
Gross Profit |
|
|
259.9 |
|
|
18.5 |
|
|
|
44.4 |
|
|
|
40.6 |
|
|
|
363.4 |
|
|
Selling, general and administrative expenses: |
|
|
182.4 |
|
|
16.8 |
|
|
|
36.8 |
|
|
|
46.5 |
|
|
|
282.5 |
|
|
Store related |
|
|
147.3 |
|
|
16.3 |
|
|
|
38.2 |
|
|
|
30.9 |
|
|
|
232.7 |
|
|
Other |
|
|
35.1 |
|
|
0.5 |
|
|
|
(1.4 |
) |
|
|
15.6 |
|
|
|
49.8 |
|
|
Asset impairments |
|
|
1.4 |
|
|
— |
|
|
|
— |
|
|
|
(0.3 |
) |
|
|
1.1 |
|
|
Operating income (loss) |
|
|
76.1 |
|
|
1.7 |
|
|
|
7.6 |
|
|
|
(5.6 |
) |
|
|
79.8 |
|
|
Interest income, net |
|
|
|
|
|
|
|
|
|
|
(54.8 |
) |
|||||||
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
134.6 |
|
|||||||
|
Income tax expense |
|
|
|
|
|
|
|
|
|
|
3.3 |
|
|||||||
|
Net income |
|
|
|
|
|
|
|
|
|
|
131.3 |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Property and equipment, net |
|
|
0.4 |
|
|
(0.5 |
) |
|
|
(1.6 |
) |
|
|
(0.6 |
) |
|
|
(2.3 |
) |
|
Capital expenditures |
|
|
3.3 |
|
|
— |
|
|
|
0.2 |
|
|
|
— |
|
|
|
3.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
|
|
United States |
|
Canada |
|
Australia |
|
Europe |
|
Total |
||||||||
|
As of and for the Year ended January 31, 2026 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
Net sales |
|
$ |
2,667.6 |
|
$ |
38.2 |
|
|
$ |
494.7 |
|
$ |
429.4 |
|
|
$ |
3,629.9 |
|
|
Cost of sales |
|
|
1,752.2 |
|
|
28.2 |
|
|
|
336.0 |
|
|
317.4 |
|
|
|
2,433.8 |
|
|
Gross Profit |
|
|
915.4 |
|
|
10.0 |
|
|
|
158.7 |
|
|
112.0 |
|
|
|
1,196.1 |
|
|
Selling, general and administrative expenses: |
|
|
631.1 |
|
|
13.9 |
|
|
|
149.1 |
|
|
116.1 |
|
|
|
910.2 |
|
|
Store related |
|
|
514.1 |
|
|
11.3 |
|
|
|
121.7 |
|
|
108.2 |
|
|
|
755.3 |
|
|
Other |
|
|
117.0 |
|
|
2.6 |
|
|
|
27.4 |
|
|
7.9 |
|
|
|
154.9 |
|
|
Asset impairments |
|
|
1.1 |
|
|
18.3 |
|
|
|
5.0 |
|
|
29.4 |
|
|
|
53.8 |
|
|
Operating income (loss) |
|
|
283.2 |
|
|
(22.2 |
) |
|
|
4.6 |
|
|
(33.5 |
) |
|
|
232.1 |
|
|
Interest income, net |
|
|
|
|
|
|
|
|
|
|
(271.5 |
) |
||||||
|
Loss on digital assets and related receivables |
|
|
|
|
|
|
|
|
|
|
131.6 |
|
||||||
|
Other income, net |
|
|
|
|
|
|
|
|
|
|
(12.0 |
) |
||||||
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
384.0 |
|
||||||
|
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
(34.4 |
) |
||||||
|
Net income |
|
|
|
|
|
|
|
|
|
|
418.4 |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
Property and equipment, net(1) |
|
|
32.6 |
|
|
— |
|
|
|
15.7 |
|
|
— |
|
|
|
48.3 |
|
|
Capital expenditures |
|
|
12.0 |
|
|
0.1 |
|
|
|
5.0 |
|
|
0.4 |
|
|
|
17.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
(1) Property and equipment, net for France (Europe) is classified as Assets held for sale in our Consolidated Balance Sheets. |
||||||||||||||||||
|
|
|
United States |
|
Canada |
|
Australia |
|
Europe |
|
Total |
|||||||||
|
As of and for the year ended February 1, 2025 |
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Net sales |
|
$ |
2,575.7 |
|
$ |
204.3 |
|
|
$ |
404.9 |
|
|
$ |
638.1 |
|
|
$ |
3,823.0 |
|
|
Cost of sales |
|
|
1,803.2 |
|
|
152.6 |
|
|
|
277.6 |
|
|
|
475.7 |
|
|
|
2,709.1 |
|
|
Gross Profit |
|
|
772.5 |
|
|
51.7 |
|
|
|
127.3 |
|
|
|
162.4 |
|
|
|
1,113.9 |
|
|
Selling, general and administrative expenses: |
|
|
737.2 |
|
|
61.7 |
|
|
|
139.2 |
|
|
|
192.3 |
|
|
|
1,130.4 |
|
|
Store related |
|
|
631.5 |
|
|
51.5 |
|
|
|
122.4 |
|
|
|
162.8 |
|
|
|
968.2 |
|
|
Other |
|
|
105.7 |
|
|
10.2 |
|
|
|
16.8 |
|
|
|
29.5 |
|
|
|
162.2 |
|
|
Asset impairments |
|
|
1.4 |
|
|
— |
|
|
|
— |
|
|
|
8.3 |
|
|
|
9.7 |
|
|
Operating income (loss) |
|
|
33.9 |
|
|
(10.0 |
) |
|
|
(11.9 |
) |
|
|
(38.2 |
) |
|
|
(26.2 |
) |
|
Interest income, net |
|
|
|
|
|
|
|
|
|
|
(163.4 |
) |
|||||||
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
137.2 |
|
|||||||
|
Income tax expense |
|
|
|
|
|
|
|
|
|
|
5.9 |
|
|||||||
|
Net income |
|
|
|
|
|
|
|
|
|
|
131.3 |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Property and equipment, net |
|
|
39.4 |
|
|
1.3 |
|
|
|
16.3 |
|
|
|
11.2 |
|
|
|
68.2 |
|
|
Capital expenditures |
|
|
10.1 |
|
|
1.0 |
|
|
|
3.2 |
|
|
|
1.8 |
|
|
|
16.1 |
|
|
GameStop Corp. |
||||||
|
|
|
January 31, 2026 |
|
February 1, 2025 |
||
|
Current assets: |
|
|
|
|
||
|
Cash and cash equivalents |
|
$ |
6,304.7 |
|
$ |
4,756.9 |
|
Marketable securities |
|
|
2,709.1 |
|
|
18.0 |
|
Receivables, net of allowance of $4.2 and $4.7, respectively |
|
|
45.0 |
|
|
60.9 |
|
Digital assets and related receivables |
|
|
368.4 |
|
|
— |
|
Merchandise inventories, net |
|
|
403.3 |
|
|
480.2 |
|
Prepaid expenses and other current assets |
|
|
34.6 |
|
|
39.0 |
|
Assets held for sale |
|
|
146.5 |
|
|
— |
|
Total current assets |
|
|
10,011.6 |
|
|
5,355.0 |
|
Property and equipment, net of accumulated depreciation of $488.2 and $684.2, respectively |
|
|
48.3 |
|
|
68.2 |
|
Operating lease right-of-use assets |
|
|
183.3 |
|
|
374.1 |
|
Deferred income taxes |
|
|
86.8 |
|
|
18.1 |
|
Other noncurrent assets |
|
|
58.4 |
|
|
60.0 |
|
Total assets |
|
$ |
10,388.4 |
|
$ |
5,875.4 |
|
|
||||||
|
Current liabilities: |
|
|
|
|
||
|
Accounts payable |
|
$ |
147.1 |
|
$ |
148.6 |
|
Accrued liabilities and other current liabilities |
|
|
283.8 |
|
|
362.2 |
|
Current portion of operating lease liabilities |
|
|
87.5 |
|
|
144.3 |
|
Current portion of long-term debt |
|
|
— |
|
|
10.3 |
|
Liabilities held for sale |
|
|
136.1 |
|
|
— |
|
Total current liabilities |
|
|
654.5 |
|
|
665.4 |
|
Long-term debt |
|
|
4,164.3 |
|
|
6.6 |
|
Operating lease liabilities |
|
|
110.1 |
|
|
249.5 |
|
Other long-term liabilities |
|
|
15.1 |
|
|
24.1 |
|
Total liabilities |
|
|
4,944.0 |
|
|
945.6 |
|
Stockholders’ equity |
|
|
5,444.4 |
|
|
4,929.8 |
|
Total liabilities and stockholders’ equity |
|
$ |
10,388.4 |
|
$ |
5,875.4 |
|
GameStop Corp. |
||||||||
|
|
|
13 Weeks Ended January 31, 2026 |
|
13 Weeks Ended February 1, 2025 |
||||
|
Cash flows from operating activities: |
|
|
|
|
||||
|
Net income |
|
$ |
127.9 |
|
|
$ |
131.3 |
|
|
Adjustments to reconcile net income to net cash flows from operating activities: |
|
|
|
|
||||
|
Depreciation and amortization |
|
|
(0.3 |
) |
|
|
6.0 |
|
|
Asset impairments |
|
|
9.7 |
|
|
|
1.1 |
|
|
Loss on digital assets and related receivables |
|
|
151.0 |
|
|
|
— |
|
|
Stock-based compensation expense, net |
|
|
7.2 |
|
|
|
5.5 |
|
|
Deferred income taxes |
|
|
(66.8 |
) |
|
|
(1.8 |
) |
|
Loss (gain) on disposal of property and equipment, net |
|
|
4.4 |
|
|
|
(0.7 |
) |
|
Other, net |
|
|
(10.4 |
) |
|
|
0.1 |
|
|
Changes in operating assets and liabilities: |
|
|
|
|
||||
|
Receivables, net |
|
|
6.4 |
|
|
|
(4.9 |
) |
|
Merchandise inventories, net |
|
|
229.2 |
|
|
|
293.1 |
|
|
Prepaid expenses and other assets |
|
|
1.7 |
|
|
|
97.5 |
|
|
Prepaid income taxes and income taxes payable |
|
|
4.3 |
|
|
|
10.4 |
|
|
Accounts payable and accrued liabilities |
|
|
(275.2 |
) |
|
|
(367.3 |
) |
|
Operating lease right-of-use assets and lease liabilities |
|
|
1.4 |
|
|
|
1.0 |
|
|
Changes in other long-term liabilities |
|
|
3.1 |
|
|
|
(9.0 |
) |
|
Net cash flows provided by operating activities |
|
|
193.6 |
|
|
|
162.3 |
|
|
Cash flows from investing activities: |
|
|
|
|
||||
|
Capital expenditures |
|
|
(6.2 |
) |
|
|
(3.5 |
) |
|
Purchases of marketable securities |
|
|
(1,718.1 |
) |
|
|
(32.2 |
) |
|
Proceeds from maturities of marketable securities |
|
|
3.0 |
|
|
|
42.9 |
|
|
Proceeds from sale of a business unit |
|
|
3.0 |
|
|
|
7.0 |
|
|
Other |
|
|
4.4 |
|
|
|
3.2 |
|
|
Net cash flows (used in) provided by investing activities |
|
|
(1,713.9 |
) |
|
|
17.4 |
|
|
Cash flows from financing activities: |
|
|
|
|
||||
|
Payments for convertible notes issuance costs |
|
|
(0.8 |
) |
|
|
— |
|
|
Repayments of French term loans |
|
|
(3.2 |
) |
|
|
(2.5 |
) |
|
Proceeds from the exercise of warrants |
|
|
0.2 |
|
|
|
— |
|
|
Proceeds from equity awards directly withheld from employees for tax purposes |
|
|
2.4 |
|
|
|
1.2 |
|
|
Payments to tax authorities for equity awards directly withheld from employees |
|
|
(2.4 |
) |
|
|
(1.2 |
) |
|
Net cash flows used in financing activities |
|
|
(3.8 |
) |
|
|
(2.5 |
) |
|
Exchange rate effect on cash, cash equivalents and restricted cash |
|
|
0.6 |
|
|
|
(4.0 |
) |
|
Less: Net change in cash balances classified as assets held-for-sale |
|
|
(14.0 |
) |
|
|
— |
|
|
Increase (decrease) in cash, cash equivalents and restricted cash |
|
|
(1,537.5 |
) |
|
|
173.2 |
|
|
Cash, cash equivalents and restricted cash at beginning of period |
|
|
7,865.6 |
|
|
|
4,616.6 |
|
|
Cash, cash equivalents and restricted cash at end of period |
|
$ |
6,328.1 |
|
|
$ |
4,789.8 |
|
|
GameStop Corp. |
||||||||
|
|
|
52 Weeks Ended January 31, 2026 |
|
52 Weeks Ended February 1, 2025 |
||||
|
Cash flows from operating activities: |
|
|
|
|
||||
|
Net income |
|
$ |
418.4 |
|
|
$ |
131.3 |
|
|
Adjustments to reconcile net income to net cash flows from operating activities: |
|
|
|
|
||||
|
Depreciation and amortization |
|
|
14.6 |
|
|
|
38.9 |
|
|
Asset impairments |
|
|
53.8 |
|
|
|
9.7 |
|
|
Loss on digital assets and related receivables |
|
|
131.6 |
|
|
|
— |
|
|
Warrants issued to Convertible Noteholders |
|
|
42.2 |
|
|
|
— |
|
|
Stock-based compensation expense, net |
|
|
26.7 |
|
|
|
16.4 |
|
|
Deferred income taxes |
|
|
(66.7 |
) |
|
|
(1.8 |
) |
|
Loss (gain) on disposal of property and equipment, net |
|
|
4.2 |
|
|
|
(7.1 |
) |
|
Other, net |
|
|
(10.6 |
) |
|
|
1.2 |
|
|
Changes in operating assets and liabilities: |
|
|
|
|
||||
|
Receivables, net |
|
|
6.0 |
|
|
|
28.9 |
|
|
Merchandise inventories, net |
|
|
12.6 |
|
|
|
94.5 |
|
|
Prepaid expenses and other assets |
|
|
6.6 |
|
|
|
4.9 |
|
|
Prepaid income taxes and income taxes payable |
|
|
(11.0 |
) |
|
|
3.7 |
|
|
Accounts payable and accrued liabilities |
|
|
0.8 |
|
|
|
(179.5 |
) |
|
Operating lease right-of-use assets and lease liabilities |
|
|
0.4 |
|
|
|
1.6 |
|
|
Changes in other long-term liabilities |
|
|
(14.8 |
) |
|
|
3.0 |
|
|
Net cash flows provided by operating activities |
|
|
614.8 |
|
|
|
145.7 |
|
|
Cash flows from investing activities: |
|
|
|
|
||||
|
Capital expenditures |
|
|
(17.5 |
) |
|
|
(16.1 |
) |
|
Purchases of marketable securities |
|
|
(2,770.5 |
) |
|
|
(61.4 |
) |
|
Purchase of digital assets |
|
|
(500.0 |
) |
|
|
— |
|
|
Investment in collaboration agreement |
|
|
(17.5 |
) |
|
|
— |
|
|
Proceeds from maturities and sales of marketable securities |
|
|
90.2 |
|
|
|
316.8 |
|
|
Proceeds from sale of property and equipment |
|
|
0.3 |
|
|
|
15.3 |
|
|
Proceeds from the sale of other divestitures, net of cash disposed |
|
|
(0.4 |
) |
|
|
— |
|
|
Proceeds from the sale of a business unit |
|
|
— |
|
|
|
7.0 |
|
|
Other |
|
|
5.6 |
|
|
|
3.5 |
|
|
Net cash flows (used in) provided by in investing activities |
|
|
(3,209.8 |
) |
|
|
265.1 |
|
|
Cash flows from financing activities: |
|
|
|
|
||||
|
Proceeds from the issuance of convertible notes |
|
|
4,200.0 |
|
|
|
— |
|
|
Payments for convertible notes and warrants issuance costs |
|
|
(42.1 |
) |
|
|
— |
|
|
Proceeds from the issuance of shares in at-the-market (ATM) offerings |
|
|
— |
|
|
|
3,453.8 |
|
|
Repayments of French term loans |
|
|
(11.9 |
) |
|
|
(10.8 |
) |
|
Proceeds from the exercise of warrants |
|
|
0.2 |
|
|
|
— |
|
|
Proceeds from equity awards directly withheld from employees for tax purposes |
|
|
9.9 |
|
|
|
8.7 |
|
|
Payments to tax authorities for equity awards directly withheld from employees |
|
|
(9.9 |
) |
|
|
(8.7 |
) |
|
Net cash flows provided by financing activities |
|
|
4,146.2 |
|
|
|
3,443.0 |
|
|
Exchange rate effect on cash, cash equivalents and restricted cash |
|
|
9.6 |
|
|
|
(2.9 |
) |
|
Less: Net change in cash balance classified as assets held-for-sale |
|
|
(22.5 |
) |
|
|
— |
|
|
Increase (decrease) in cash, cash equivalents and restricted cash |
|
|
1,538.3 |
|
|
|
3,850.9 |
|
|
Cash, cash equivalents and restricted cash at beginning of period |
|
|
4,789.8 |
|
|
|
938.9 |
|
|
Cash, cash equivalents and restricted cash at end of period |
|
$ |
6,328.1 |
|
|
$ |
4,789.8 |
|
|
GameStop Corp. |
||||||||||||
|
|
|
13 Weeks Ended January 31, 2026 |
|
13 Weeks Ended February 1, 2025 |
||||||||
|
Net Sales: |
|
Net Sales |
|
Percent of Total |
|
Net Sales |
|
Percent of Total |
||||
|
|
|
|
|
|
|
|
|
|
||||
|
Hardware and accessories(1) |
|
$ |
535.6 |
|
48.5 |
% |
|
$ |
725.8 |
|
56.6 |
% |
|
Software(2) |
|
|
203.7 |
|
18.4 |
% |
|
|
286.2 |
|
22.3 |
% |
|
Collectibles(3) |
|
|
365.0 |
|
33.1 |
% |
|
|
270.6 |
|
21.1 |
% |
|
Total |
|
$ |
1,104.3 |
|
100.0 |
% |
|
$ |
1,282.6 |
|
100.0 |
% |
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
52 Weeks Ended January 31, 2026 |
|
52 Weeks Ended February 1, 2025 |
||||||||
|
Net Sales: |
|
Net Sales |
|
Percent of Total |
|
Net Sales |
|
Percent of Total |
||||
|
|
|
|
|
|
|
|
|
|
||||
|
Hardware and accessories(1) |
|
$ |
1,840.4 |
|
50.7 |
% |
|
$ |
2,099.7 |
|
54.9 |
% |
|
Software(2) |
|
|
729.3 |
|
20.1 |
% |
|
|
1,005.4 |
|
26.3 |
% |
|
Collectibles(3) |
|
|
1,060.2 |
|
29.2 |
% |
|
|
717.9 |
|
18.8 |
% |
|
Total |
|
$ |
3,629.9 |
|
100.0 |
% |
|
$ |
3,823.0 |
|
100.0 |
% |
|
(1) Includes sales of new and pre-owned hardware, accessories, hardware bundles in which hardware and digital or physical software are sold together in a single SKU, interactive game figures, strategy guides, mobile and consumer electronics. |
||||||||||||
|
(2) Includes sales of new and pre-owned gaming software, digital software and PC entertainment software. |
||||||||||||
|
(3) Includes the sale of apparel, toys, trading cards, gadgets, other products for pop culture and technology enthusiasts, and submission services for the authentication and grading of trading cards. |
||||||||||||
|
GameStop Corp. |
|||||||||||||
|
|
|
13 Weeks Ended January 31, 2026 |
|
13 Weeks Ended February 1, 2025 |
|
52 Weeks Ended January 31, 2026 |
|
52 Weeks Ended February 1, 2025 |
|||||
|
Adjusted SG&A Expenses |
|
|
|
|
|
|
|
|
|||||
|
SG&A expenses |
|
$ |
241.5 |
|
$ |
282.5 |
|
|
$ |
910.2 |
|
$ |
1,130.4 |
|
Transformation costs(1) |
|
|
2.4 |
|
|
(3.5 |
) |
|
|
3.6 |
|
|
10.3 |
|
Adjusted SG&A expenses |
|
|
243.9 |
|
|
279.0 |
|
|
|
913.8 |
|
|
1,140.7 |
|
|
|
13 Weeks Ended January 31, 2026 |
|
13 Weeks Ended February 1, 2025 |
|
52 Weeks Ended January 31, 2026 |
|
52 Weeks Ended February 1, 2025 |
|||||
|
Adjusted Operating Income (Loss) |
|
|
|
|
|
|
|
|
|||||
|
Operating income (loss) |
|
$ |
135.2 |
|
$ |
79.8 |
|
$ |
232.1 |
|
$ |
(26.2 |
) |
|
Asset impairments(2) |
|
|
10.1 |
|
|
1.1 |
|
|
53.8 |
|
|
9.7 |
|
|
Transformation costs(1) |
|
|
2.4 |
|
|
3.5 |
|
|
3.6 |
|
|
(10.3 |
) |
|
Adjusted Operating income (loss) |
|
$ |
147.7 |
|
$ |
84.4 |
|
$ |
289.5 |
|
$ |
(26.8 |
) |
|
|
|
|
|
|
|
|
|
|
|||||
|
(1) Transformation costs include severance, stock-based compensation forfeitures related to workforce optimization efforts and departures of key personnel, adjustments to reserves for expenses for consultants and advisors related to transformation initiatives, and other costs in connection with our transformation initiatives. |
|||||||||||||
|
(2) Current year asset impairments include amounts incurred in connection with plans initiated during the first quarter of fiscal 2025 to divest our operations in France and Canada, amounts incurred in connection with the wind down of our operations in New Zealand, and other store-level asset impairment. Prior year asset impairments include amounts incurred in connection with plans initiated during the third quarter of fiscal 2024 to divest our operations in Italy and wind down our operations in Germany, and other store-level asset impairment. |
|||||||||||||
|
|
|
13 Weeks Ended January 31, 2026 |
|
13 Weeks Ended February 1, 2025 |
|
52 Weeks Ended January 31, 2026 |
|
52 Weeks Ended February 1, 2025 |
||||||
|
Adjusted Net Income |
|
|
|
|
|
|
|
|
||||||
|
Net income |
|
$ |
127.9 |
|
$ |
131.3 |
|
$ |
418.4 |
|
|
$ |
131.3 |
|
|
Transformation costs(1) |
|
|
2.4 |
|
|
3.5 |
|
|
3.6 |
|
|
|
(10.3 |
) |
|
Divestitures and other |
|
|
— |
|
|
0.5 |
|
|
(2.2 |
) |
|
|
0.5 |
|
|
Asset impairments(2) |
|
|
10.1 |
|
|
1.1 |
|
|
53.8 |
|
|
|
9.7 |
|
|
Warrants issued to Convertible Noteholders(3) |
|
|
— |
|
|
— |
|
|
42.2 |
|
|
|
— |
|
|
Loss on digital assets and related receivables |
|
|
151.0 |
|
|
— |
|
|
131.6 |
|
|
|
— |
|
|
Adjusted Net Income |
|
$ |
291.4 |
|
$ |
136.4 |
|
$ |
647.4 |
|
|
$ |
131.2 |
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Adjusted Net Income per share |
|
|
|
|
|
|
|
|
||||||
|
Basic |
|
|
|
|
|
|
|
|
||||||
|
Basic |
|
$ |
0.65 |
|
$ |
0.31 |
|
$ |
1.45 |
|
|
$ |
0.33 |
|
|
Diluted |
|
$ |
0.49 |
|
$ |
0.30 |
|
$ |
1.18 |
|
|
$ |
0.33 |
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Number of shares used in adjusted calculation |
|
|
|
|
|
|
|
|
||||||
|
Basic |
|
|
448.1 |
|
|
446.9 |
|
|
447.6 |
|
|
|
394.1 |
|
|
Diluted |
|
|
592.0 |
|
|
447.7 |
|
|
549.1 |
|
|
|
394.7 |
|
|
|
|
|
|
|
|
|
|
|
||||||
|
|
|
13 Weeks Ended January 31, 2026 |
|
13 Weeks Ended February 1, 2025 |
|
52 Weeks Ended January 31, 2026 |
|
52 Weeks Ended February 1, 2025 |
||||||||
|
Reconciliation of Net Income Adjusted EBITDA |
|
|
|
|
|
|
|
|
||||||||
|
Net income |
|
$ |
127.9 |
|
|
$ |
131.3 |
|
|
$ |
418.4 |
|
|
$ |
131.3 |
|
|
Interest income, net |
|
|
(86.0 |
) |
|
|
(54.8 |
) |
|
|
(271.5 |
) |
|
|
(163.4 |
) |
|
Depreciation and amortization |
|
|
4.7 |
|
|
|
6.0 |
|
|
|
19.4 |
|
|
|
38.9 |
|
|
Income tax expense, net |
|
|
(50.9 |
) |
|
|
3.3 |
|
|
|
(34.4 |
) |
|
|
5.9 |
|
|
EBITDA |
|
$ |
(4.3 |
) |
|
$ |
85.8 |
|
|
$ |
131.9 |
|
|
$ |
12.7 |
|
|
Stock-based compensation expense |
|
|
7.2 |
|
|
|
5.6 |
|
|
|
26.7 |
|
|
|
23.5 |
|
|
Transformation costs(1) |
|
|
2.4 |
|
|
|
3.5 |
|
|
|
3.6 |
|
|
|
(10.3 |
) |
|
Asset impairments(2) |
|
|
10.1 |
|
|
|
1.1 |
|
|
|
53.8 |
|
|
|
9.7 |
|
|
Divestitures and other |
|
|
— |
|
|
|
0.5 |
|
|
|
(2.2 |
) |
|
|
0.5 |
|
|
Loss on digital assets and related receivables |
|
|
151.0 |
|
|
|
— |
|
|
|
131.6 |
|
|
|
— |
|
|
Adjusted EBITDA |
|
$ |
166.4 |
|
|
$ |
96.5 |
|
|
$ |
345.4 |
|
|
$ |
36.1 |
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
GameStop Corp. |
|||||||||||||||
|
Non-GAAP results |
|||||||||||||||
|
The following table reconciles the Company’s cash flows provided by (used in) operating activities as presented in its Consolidated Statements of Cash Flows and prepared in accordance with GAAP to its free cash flow. Free cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use by investors in evaluating the Company’s financial performance. |
|||||||||||||||
|
|
13 Weeks Ended January 31, 2026 |
|
13 Weeks Ended February 1, 2025 |
|
52 Weeks Ended January 31, 2026 |
|
52 Weeks Ended February 1, 2025 |
||||||||
|
Net cash flows provided by operating activities |
$ |
193.6 |
|
|
$ |
162.3 |
|
|
|
614.8 |
|
|
$ |
145.7 |
|
|
Capital expenditures |
|
(6.2 |
) |
|
|
(3.5 |
) |
|
|
(17.5 |
) |
|
|
(16.1 |
) |
|
Free cash flow |
$ |
187.4 |
|
|
$ |
158.8 |
|
|
$ |
597.3 |
|
|
$ |
129.6 |
|
