GRAPEVINE, Texas--(BUSINESS WIRE)--GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today released financial results for the first quarter ended May 3, 2025. The Company’s condensed and consolidated financial statements, including GAAP and non-GAAP results, are below. The Company’s Form 10-Q and supplemental information can be found at https://investor.gamestop.com.
FIRST QUARTER OVERVIEW
- Net sales were $732.4 million for the period, compared to $881.8 million in the prior year's first quarter.
- Selling, general and administrative (“SG&A”) expenses were $228.1 million for the period, compared to $295.1 million in the prior year's first quarter.
- Operating loss was $10.8 million for the period, compared to an Operating loss of $50.6 million in the prior year's first quarter.
- First quarter Operating loss includes $35.5 million of impairment charges related to international restructuring efforts.
- Excluding the impairment charges and other items, Adjusted Operating Income was $27.5 million for the period compared to an Adjusted Operating Loss of $55.0 million in the prior year's first quarter.
- Net income was $44.8 million for the period, compared to a Net loss of $32.3 million for the prior year’s first quarter.
- Excluding the impairment charges and other items, Adjusted Net Income was $83.1 million for the period compared to an Adjusted Net Loss of $36.7 million for the prior year's first quarter.
- Cash, cash equivalents and marketable securities were $6.4 billion at the close of the first quarter, compared to $1.0 billion at the close of the prior year's first quarter.
SUBSEQUENT EVENTS
- Completed the divestiture of Canada on May 4, 2025.
- Purchased 4,710 Bitcoin between May 3, 2025 and June 10, 2025 for cash.
Additional information can be found in the Company’s Form 10-Q.
NON-GAAP MEASURES AND OTHER METRICS
As a supplement to the Company’s financial results presented in accordance with U.S. generally accepted accounting principles (“GAAP”), GameStop may use certain non-GAAP measures, such as adjusted SG&A expenses, adjusted operating income (loss), adjusted net income (loss), adjusted EBITDA and free cash flow...
GameStop Corp. Condensed Statements of Operations (in millions, except per share data) (unaudited) |
Net sales |
$732.4 million |
Operating loss |
($10.8 million) |
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS - SAFE HARBOR
This press release contains forward-looking statements...