Take-Two Interactive Software, Inc. — Blitz Index 54 (C)
Take-Two scores 54 — a proven catalog (recurrent spending 78% of bookings) waiting on one conversion: GTA VI Online must repeat what GTA Online did for GTA V.
Confidence: High · Category: platforms
Score breakdown
| Section | Score | Detail |
|---|---|---|
| A · Speed | 16 / 25 | FY2026 bookings $6.72B (+19%) and GAAP revenue $6,656.4M (+18.2%) — but Q1 FY2027 bookings fell −3% YoY into the pre-launch trough |
| B · Moat | 38 / 60 | Recurrent consumer spending 78% of FY2026 bookings (84% in Q1 FY2027); GTA Online still monetizing a 2013 title; digital 97% of revenue |
| C · Creative destruction | 9 / 15 | GTA V monetizing 13 years on via GTA Online and GTA+; GTA VI $79.99 pricing breaks the $70 console standard — post-launch evidence still missing |
| D · BlitzFailing | −9 | GAAP losses persist (−$298.2M FY2026); FY2027 guidance explicitly GTA VI-driven; two GTA VI delays (~13-month slip) |
Radar axes (0–100): Moat 63.3 · Speed 64 · Creative 60.
Watch item
Gates: G1 ✓ · G2 ✓ (borderline — bar ≈ $66.6B vs ~$189–200B global games market; reaching the bar implies ~33–35% share, stated openly). 11 points below the threshold — first score.
Strengths
- FY2026 bookings +19% broad-based across all three labels — growth was not a single title
- Recurrent spending 78% of FY2026 bookings (84% in Q1 FY2027) — the installed base carries the P&L between hits
- GTA V monetizing 13 years on via GTA Online + GTA+ — the catalog, not just new releases, monetizes
- Digital 97–99% of revenue; mobile 50% / console 39% / PC 11% — diversified across every platform segment
- NBA 2K26 >12M units (+9% vs 2K25), DAU +15% — an annual franchise behaving like a live service
- Net debt only ~$693M (<1× EBITDA); FY2026 OCF $624.3M — self-funding into the launch
Concerns
- Q1 FY2027 bookings −3% YoY and GAAP losses persist (−$298.2M FY2026, −$34.1M Q1 FY2027); EBITDA margin only ~11.4%
- FY2027 guidance (+20%) explicitly driven by an unlaunched title; Rockstar ~37% of guided bookings
- Two GTA VI delays (~13-month slip from Fall 2025); console-only launch with no PC date announced
- Development budget and pre-order volume undisclosed — the two numbers most relevant to launch economics are both Unconfirmed
- Hit costs inflating: capitalized unreleased development $2,149.7M; software development costs & royalties +161.6% YoY
- G2 attainable-share gap: the bar implies ~33–35% of the entire global games market
More Platforms companies
Other Platforms names on the Blitz Index, highest score first: Alphabet (82/A), Meta (78/B), Snowflake (76/B).
Next earnings
Nov 9, 2026 · Confirmed
Coverage
Take-Two Interactive Software, Inc. · Q2 FY2027 due Nov 9, 2026 · Score 54 · Grade C
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BlitzLab scores businesses against a scholar’s standard — not investment advice. No price targets, no buy/sell recommendations. Figures are from SEC filings (XBRL) as labeled in the source scorecard.