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GameStop (GME) investor relations material
GameStop Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary9 Dec, 2025
Executive summary
Net sales for Q3 2025 were $821.0 million, down 4.6% year-over-year, while net income rose to $77.1 million from $17.4 million, driven by higher gross margins and lower SG&A expenses.
Operating income reached $41.3 million, reversing a prior year operating loss of $33.4 million.
The company divested its Canadian operations and is in the process of selling its French business, reflecting a continued focus on optimizing its international footprint.
A revised investment policy was adopted, allowing investment in Bitcoin as a treasury reserve asset; 4,710 Bitcoin were purchased for $500 million during the second quarter.
Cash, cash equivalents, and marketable securities totaled $8.8 billion at quarter end, with Bitcoin holdings valued at $519.4 million.
Financial highlights
Gross profit margin improved to 33.3% from 29.9% year-over-year, with gross profit for the quarter at $273.4 million.
SG&A expenses decreased to $221.4 million from $282.0 million year-over-year, reflecting cost containment and store closures.
Adjusted EBITDA for the quarter was $64.4 million, up from $8.6 million year-over-year.
Free cash flow for the quarter was $107.0 million, up from $20.0 million year-over-year.
Net income for the nine months ended November 1, 2025, was $290.5 million, compared to a net loss in the prior year period.
Outlook and guidance
The company anticipates further store closures in fiscal 2025 as part of ongoing portfolio optimization.
Management continues to focus on cost containment and margin accretive opportunities, particularly in collectibles and new product categories.
Forward-looking statements highlight risks from industry cyclicality, supply chain, consumer trends, and technology shifts.
Capital allocation strategy for $8.8B cash
Drivers of collectibles sales growth and sustainability
Rationale for international divestitures
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Frequently asked questions
The gaming retailer
GameStop is an American video game, consumer electronics, and gaming merchandise retailer headquartered in Texas. The company was founded in 1984 and operates over 5,000 retail stores across the United States and around the world.
A popular destination for gamers
GameStop generates the majority of its revenue through the sale of video games, consoles, and accessories in its retail stores. The company's stores are a popular destination for gamers and consumers looking to purchase the latest video game releases and gaming merchandise. GameStop also offers trade-in services, allowing customers to trade in their used games and consoles for store credit or cash.
Tapping into the e-commerce market
In recent years, GameStop has expanded its e-commerce operations, offering digital downloads of video games and other digital content through its website. The company's digital sales have seen significant growth in recent years, driven by the increasing popularity of online gaming and digital distribution.
Gamestop’s main competitors
The gaming industry is highly competitive, with other public companies such as Electronic Arts, Activision Blizzard, and Take-Two Interactive also offering similar services. GameStop is known for its dedicated fanbase and its unique approach to retail, with the company's retail stores serving as a community hub for gamers.
The Reddit Rally
In addition to its retail operations, GameStop has been in the news for its involvement in the "Reddit Rally," a social media-driven movement that saw a surge in the company's stock price in early 2021. The movement, which was driven by a group of investors on Reddit, caused a significant disruption in the financial markets and drew attention to the power of social media in shaping the stock market.
Interesting facts about GameStop
GameStop has a unique history and culture, making it a fascinating company to follow.
The company was originally founded in 1984 as Babbage's, a software retailer, before rebranding as GameStop in 1999.
GameStop's dedicated fanbase has led to the company's stores becoming a hub for gaming communities, with many stores hosting gaming tournaments and events.
The company is also known for its collectibles business, with GameStop offering a wide variety of gaming merchandise such as figurines, clothing, and accessories.
The company has also faced challenges in recent years, with the company struggling to compete with the growing popularity of online gaming and the rise of digital distribution.
Despite these challenges, GameStop remains a popular destination for gamers and a significant player in the video game industry.
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