SEC Filings

Cross-cutting topic dossier — every report in the compendium that touches this subject.

Reports covering this topic: 21

Reports are grouped by the section they live in. Click any title to jump straight to the report.

Part 15 — In-Game Economy

• 1150 Day-Trading Bro Lifestyle Guru — Vice City finfluencer guru ecosystem of rented Lambos, Airbnb penthouses and $2997 options masterclasses pivoting to prop firms.

Part 18 — Source-Code Leaks

• 1230 Take-Two SEC Disclosure Obligations and the September 2022 Intrusion — Examines Take-Two's 8-K disclosure of the 2022 breach and the subsequent SEC cybersecurity rulemaking.

Part 19 — Market & Business

• 1235 Recurrent Consumer Spending as Take-Two's Core Profit Engine — Reconstructs Take-Two's RCS metric, its 77% share of net bookings, and scenario models for GTA VI Online contribution.
• 1236 The Zynga $12.7B Acquisition: Goodwill Impairment and FY2025 $4.5B Net Loss — Forensic accounting walk-through of $5.89B Zynga goodwill impairments and the FY2025 $4.48B GAAP net loss.
• 1237 GTA VI Event Study: Share Price Reactions to Announcements, Leaks, and Delays — Quantifies abnormal TTWO share-price reactions to seven GTA VI catalysts from 2022 leak through November 2025 delay.
• 1238 The $8B Net Bookings Target: Anatomy of Take-Two's FY2025 Guidance Reset — Traces the lifecycle of Zelnick's $8B FY2025 net bookings target through two GTA VI delays and consensus re-anchoring.
• 1241 Operating Leverage at Take-Two: How a GTA VI Revenue Spike Flows to the Bottom Line — Scenario model of Take-Two operating leverage at $3B/$5B/$7B first-year net bookings, EPS spanning an order of magnitude.
• 1242 Net-Debt to EBITDA at Take-Two: Balance Sheet Stress Tests Under GTA VI Scenarios — Reconstructs the post-Zynga debt stack and stress-tests credit profile under three GTA VI launch scenarios.
• 1243 Insider Form 4 Filings: Zelnick/Slatoff/Goldstein Sales Around GTA VI Milestones — Reads SEC Form 4 insider trading filings of Take-Two officers around GTA VI milestones for signal vs noise.
• 1244 Capitalized Software Development Costs: Take-Two's Balance Sheet Treatment of GTA VI — Dissects ASC 985-20 mechanics and reconstructs capitalised software balances housing GTA VI's $1-2B development bill.
• 1245 Stock-Based Compensation: Dilution Cost and FY2026 EPS Bridge — Models Take-Two's $300-340M SBC line, vesting acceleration on GTA VI rally, and FY2026 diluted EPS bridge.
• 1246 Pre-Order and Deferred Revenue Accounting: When GTA VI Bookings Become GAAP Revenue — Maps ASC 606 mechanics translating $1B+ GTA VI pre-orders from deferred revenue liability to recognised GAAP revenue.
• 1247 Rockstar Games P&L Carve-Out: Estimating Segment Economics Inside Take-Two — Synthetic standalone Rockstar Games P&L estimate, arguing GTA VI may force ASC 280 segment disclosure.
• 1249 Capitalized Software Development Costs: When Does GTA VI Begin Amortizing? — Models post-launch FY2027-FY2029 amortisation expense and gross-margin compression from GTA VI's capitalised costs.
• 1250 Working Capital Cycles in AAA Launches: Deferred Revenue, Receivables, and Cash Conversion — Decomposes the AAA launch working-capital cycle and models GTA VI's expected balance-sheet swell during pre-order build.
• 1251 Take-Two vs Electronic Arts Financial Benchmark FY2024-FY2025 — Side-by-side benchmark of TTWO and EA across revenue, margins and pair-trade dispersion ahead of GTA VI launch year.
• 1254 Carl Icahn 2013 Activist Campaign and Take-Two Governance Evolution — Chronicles Icahn's 2006-2013 activist campaign and the governance architecture (poison pill, ZelnickMedia) it produced.
• 1255 Stock Buyback Program History and Timing Around Flagship Launches — Reconstructs Take-Two's tactical buyback authorisations around GTA V, RDR2 and the GTA VI build-up versus EA's programmatic approach.
• 1257 Take-Two Investor Day 2024 Disclosures and GTA VI Financial Framing — Reviews the 16 September 2024 Investor Day disclosures anchoring FY2026/FY2027 guidance to GTA VI launch.
• 1259 Hot Coffee 2005 Settlement and Options Backdating Fines — Quantifies $34M+ direct cash cost of Hot Coffee and options-backdating scandals and their imprint on GTA VI marketing posture.
• 1262 ZelnickMedia Management Agreement Compensation Structure — Walks through the ZelnickMedia management agreement, PRSU/RSU lattice, ISS/Glass Lewis critiques and GTA VI-tied vesting.

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