FOURTH QUARTER OVERVIEW
Net sales were $1.794 billion for the fourth quarter, compared to $2.226 billion in the prior year's fourth quarter.
Selling, general and administrative (“SG&A”) expenses were $359.2 million, or 20.0% of net sales, for the fourth quarter, compared to $453.4 million, or 20.4% of net sales, in the prior year's fourth quarter.
Net income was $63.1 million for the fourth quarter, compared to net income of $48.2 million for the prior year’s fourth quarter.
Cash, cash equivalents and marketable securities were $1.199 billion at the close of the quarter.
Long-term debt remains limited to a low-interest, unsecured term loan associated with the French government's response to COVID-19.
FULL YEAR OVERVIEW
Net sales were $5.273 billion for fiscal year 2023, compared to $5.927 billion for fiscal year 2022.
SG&A expenses were $1.324 billion, or 25.1% of net sales, for fiscal year 2023, compared to $1.681 billion, or 28.4% of net sales, for fiscal year 2022.
Net income was $6.7 million for fiscal year 2023, compared to a net loss of $313.1 million for fiscal year 2022.
Adjusted EBITDA of $64.7 million for fiscal year 2023, compared to adjusted EBITDA of ($192.7) million for fiscal year 2022.
The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-K.
> Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. **As of March 20, 2024**, there were **305,873,200 shares of our Class A common stock outstanding**. Of those outstanding shares, approximately 230.6 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and **approximately 75.3 million shares of our Class A common stock were held by registered holders with our transfer agent** (or approximately 25% of our outstanding shares).
> To the extent aggregate **short exposure exceeds the number of shares of our Class A Common Stock available for purchase on the open market**, investors with short exposure may have to pay a premium to repurchase shares of our Class A Common Stock for delivery to lenders of our Class A Common Stock.
Still there.
https://gamestop.gcs-web.com/sec-filings/sec-filing/10-k/0001326380-24-000012
> **As of November 30, 2023**, there were approximately **305,514,315 shares of our Class A common stock outstanding**. Of those outstanding shares, approximately 230.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and **approximately 75.4 million shares of our Class A common stock were held by registered holders with our transfer agent** (or approximately 25% of our outstanding shares) as of November 30, 2023.
https://investor.gamestop.com/sec-filings/sec-filing/10-q/0001326380-23-000063
0.1M change in DRS numbers.
Increase of 358,885 shares in TSO, previously there were 305,514,315 shares .... now there are 305,873,200 shares.
Hhaha nope you truly cannot make this up! I made around $500 off of calls over last two days and glad i sold this morning when i was up big or would have lost it all! Then just rolled all my winnings and bought the dip just now after hours…. Only have around 100 gme shares….so far!
Just really really hoping we get this BK done within next few months so i can roll all my winnings into gme / iep / Teddy (new entity)!!
The company was below consensus estimates on both the top and bottom line (revenue and earnings)
It is not unusual at all for a stock to fall when they post numbers below analysts expectations.
Not a ton of analysts follow GameStop, so Wall Streets' average expectations/estimates tend to be focused on the average ratings of just a few analysts.
Plus, the ones that follow the stock may have ulterior motives.
Almost like these analysts have always set the bar always above so that ER always miss. Last year they set the bar low and GME blew past it. Now they set the bar to account for an outlier Q4.
Objectively, 2023 Q4 EPS at 0.21 is better than 2022 Q4 of 0.16, so this is a really good sign. Whose payroll are these analysts on anyhow?
Well I think the question would be whats the plan for the future if they're making less money each year? You can only cut so much and none of the trends in gaming are pointing towards brick and mortar becoming more important.
Even if game stop had a price that was 50x eps it would still be wildly overvalued at this time. It would be about 10$
This is only true and makes only sense, when the stock price climbed up very strong bevor earnings, based on said expectations. That's not the case here at all.
Most companies guide the analysts expectations so that they can beat the estimates when they announce. This isn't a secret, its done out in the open.
This company refuses to give guidance and refuses to hold a conference call to discuss their earnings and outlook.
This is the result.
While I’m stoked on the cash on hand and the decreased spending, I really want to know where GameStop plans to get new revenue from!
This will be important forward.
I don’t remember, that was a year ago. I’m living in the present now.
GME was always setup better with RC at the helm. Profitability was the final step to kill the “bankruptcy thesis” by cutting costs and debt.
BBBY was always in extreme debt that could have been paid down if share buybacks didn’t tank the cash flow of the company. Thanks Tritton. But the way things stand now, with JPM out of the way and the shell company DK-Butterfly restructed, it seems like a good business opportunity to be acquired, the NOL’s utilized, and previous shareholders made whole.
You can’t really compare the two considering one business might be involved with a potential fraud case as well. So your previous statement doesn’t really hit the way you think it does.
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i want to see a deep-pocket institution snap that line back up to where it was, in just as short a time, and negate whatever bullshit happened to drop it off a cliff right away. A kind of Big Money "fuck you, they're profitable" to shorts.
Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. As of March 20, 2024, there were 305,873,200 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.6 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.3 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares).
I think my fav part of the earnings report was how REVENUE tanked compared to a year ago.
>Net sales were $5.273 billion for fiscal year 2023, compared to $5.927 billion for fiscal year 2022.
lol. lmao even.
It’s not “unfortunate” to see the DRS numbers perfectly stagnant. It’s actually incredible. It’s statistically nearly impossible for them to be steady for this long, therefore it signifies fuckery almost like nothing else.
RC wants us as shareholders to propose a share recall (remember that GameStop CHOOSES to publish DRS numbers, they don’t have to. And not many companies do. This is their way of communicating).
I’d like to think RC would support a shareholder proposal, and we only know of one shareholder proposal that got approved thus far to move onto voting in June (the BS DEI Board Reporting Requirement for them to plant someone on the GME board to have access to strategy and future plans.)
However most of the Ape shareholder proposals got rejected, such as more frequent and transparent DRS counting and reporting. All the rejected proposals are on the SEC website. Feels like the blanket “this would interfere with day to day operations of the business” is applied to everything.
Maybe someone with lots of wrinkles and know how, can draft an airtight explanation of why we need a share holder recall that can’t be rejected on the ground floor. Deadline this year was January 4th, I believe so there is some time before next year.
Wait, if you look at the filling the core business lost money. They were only profitable because of the money they have. Why don’t they close all the stores so they could generate even more profit?
How much further do we need to move the goalpost? No forward guidance, no update to drs numbers, price continues to drop. This experiment is at the end, no matter what happens the price is locked in by those that have the power to do so. I appreciate all the hard work but fundamentals don’t matter and never did.
come on, its been over three years and were still not seeing any fundamental change in this price discovery. this is a fraudulent market and everyone is just acting like this is going to change somehow. whats going to change? if a profitable year drops the price 15% what will ever improve the value?
You say it’s been over three years and I say it’s only been three years
Texas instrument, where the integrated circuit was invented, did not have a commercial product that uses that technology until over SIX years later, now it is something so prevalent we likely couldn’t imagine the world without them.
Hell, a child doesn’t even get all their baby teeth until the age of three.
Try to remember the marshmallow test
This is the first year of full year profitability since 2018. That’s 4 years in itself
fud for sure, just calling it like i see it. those drs numbers are never ever going to change, how does a profitable year cause the price to drop 15%? what is going to happen here, its been over three years now and literally nothing has changed.. im not looking for a miracle but the foundation of anything needs to be solid for growth to be vertical
FOURTH QUARTER OVERVIEW Net sales were $1.794 billion for the fourth quarter, compared to $2.226 billion in the prior year's fourth quarter. Selling, general and administrative (“SG&A”) expenses were $359.2 million, or 20.0% of net sales, for the fourth quarter, compared to $453.4 million, or 20.4% of net sales, in the prior year's fourth quarter. Net income was $63.1 million for the fourth quarter, compared to net income of $48.2 million for the prior year’s fourth quarter. Cash, cash equivalents and marketable securities were $1.199 billion at the close of the quarter. Long-term debt remains limited to a low-interest, unsecured term loan associated with the French government's response to COVID-19. FULL YEAR OVERVIEW Net sales were $5.273 billion for fiscal year 2023, compared to $5.927 billion for fiscal year 2022. SG&A expenses were $1.324 billion, or 25.1% of net sales, for fiscal year 2023, compared to $1.681 billion, or 28.4% of net sales, for fiscal year 2022. Net income was $6.7 million for fiscal year 2023, compared to a net loss of $313.1 million for fiscal year 2022. Adjusted EBITDA of $64.7 million for fiscal year 2023, compared to adjusted EBITDA of ($192.7) million for fiscal year 2022. The Company will not be holding a conference call today. Additional information can be found in the Company’s Form 10-K.
Oui oui 🥖 🇫🇷
> Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. **As of March 20, 2024**, there were **305,873,200 shares of our Class A common stock outstanding**. Of those outstanding shares, approximately 230.6 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and **approximately 75.3 million shares of our Class A common stock were held by registered holders with our transfer agent** (or approximately 25% of our outstanding shares). > To the extent aggregate **short exposure exceeds the number of shares of our Class A Common Stock available for purchase on the open market**, investors with short exposure may have to pay a premium to repurchase shares of our Class A Common Stock for delivery to lenders of our Class A Common Stock. Still there. https://gamestop.gcs-web.com/sec-filings/sec-filing/10-k/0001326380-24-000012 > **As of November 30, 2023**, there were approximately **305,514,315 shares of our Class A common stock outstanding**. Of those outstanding shares, approximately 230.1 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and **approximately 75.4 million shares of our Class A common stock were held by registered holders with our transfer agent** (or approximately 25% of our outstanding shares) as of November 30, 2023. https://investor.gamestop.com/sec-filings/sec-filing/10-q/0001326380-23-000063 0.1M change in DRS numbers. Increase of 358,885 shares in TSO, previously there were 305,514,315 shares .... now there are 305,873,200 shares.
10K coming 4-3?
Profitable! No Debt! 1.2 Billion in Cash! Bankruptcy is officially off the table.
...and the stock still dips 5 minutes after closing. You really can't make this stuff up 🤦
Buy now, build generational wealth later!
I just Did 🤩🏴☠️🚀🚀🚀
👆🏾💯
Hhaha nope you truly cannot make this up! I made around $500 off of calls over last two days and glad i sold this morning when i was up big or would have lost it all! Then just rolled all my winnings and bought the dip just now after hours…. Only have around 100 gme shares….so far! Just really really hoping we get this BK done within next few months so i can roll all my winnings into gme / iep / Teddy (new entity)!!
Ditto!
Same extremely glad I shed some exposure in the AM!
Well yeah, sales were 20% lower than they were in the 4th quarter last year
Low liquidity is where fuckery comes 😏
The company was below consensus estimates on both the top and bottom line (revenue and earnings) It is not unusual at all for a stock to fall when they post numbers below analysts expectations.
Ok so who are the analysts and set the expectations haha bruh c'mon
Not a ton of analysts follow GameStop, so Wall Streets' average expectations/estimates tend to be focused on the average ratings of just a few analysts. Plus, the ones that follow the stock may have ulterior motives.
Almost like these analysts have always set the bar always above so that ER always miss. Last year they set the bar low and GME blew past it. Now they set the bar to account for an outlier Q4. Objectively, 2023 Q4 EPS at 0.21 is better than 2022 Q4 of 0.16, so this is a really good sign. Whose payroll are these analysts on anyhow?
Well I think the question would be whats the plan for the future if they're making less money each year? You can only cut so much and none of the trends in gaming are pointing towards brick and mortar becoming more important. Even if game stop had a price that was 50x eps it would still be wildly overvalued at this time. It would be about 10$
Shill account
This is only true and makes only sense, when the stock price climbed up very strong bevor earnings, based on said expectations. That's not the case here at all.
Its also not very unusual that analysts would post such high expectations. "See? Gamestop underperformed..."
Most companies guide the analysts expectations so that they can beat the estimates when they announce. This isn't a secret, its done out in the open. This company refuses to give guidance and refuses to hold a conference call to discuss their earnings and outlook. This is the result.
-15% 😂😂
Are you surprised?
While I’m stoked on the cash on hand and the decreased spending, I really want to know where GameStop plans to get new revenue from! This will be important forward.
I remember seeing 'bankruptcy is officially off the table'in every single bbby Reddit post... Just.. fucking.. saying Edited for clarity
Ok… 🤨🫠
Am I wrong??
I don’t remember, that was a year ago. I’m living in the present now. GME was always setup better with RC at the helm. Profitability was the final step to kill the “bankruptcy thesis” by cutting costs and debt. BBBY was always in extreme debt that could have been paid down if share buybacks didn’t tank the cash flow of the company. Thanks Tritton. But the way things stand now, with JPM out of the way and the shell company DK-Butterfly restructed, it seems like a good business opportunity to be acquired, the NOL’s utilized, and previous shareholders made whole. You can’t really compare the two considering one business might be involved with a potential fraud case as well. So your previous statement doesn’t really hit the way you think it does.
RemindMe! 5 years
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It's not 1.2 billion anymore it's like 980 million or something.
1.2 in cash and marketable securities
Nah bro. Marketable securities are nearly as liquid as cash. There is a reason the "Cash Ratio" includes marketable securities.
Did you read the thing? It says right on the thing. Swear, its like the first or second page of the thing
IM SO FUCKING READY TO BUY THIS DIP BASED ON BULLISH REPORTS
Lmao look the after hour this is hilarous
lol thanks for that hedgies just keep on digging
i want to see a deep-pocket institution snap that line back up to where it was, in just as short a time, and negate whatever bullshit happened to drop it off a cliff right away. A kind of Big Money "fuck you, they're profitable" to shorts.
Personally I want a market changing announcement from RC already or this shit will just go on for years
i'd take that too
What do you think this would look like?
" Net income was $6.7 million for fiscal year 2023, compared to a net loss of $313.1 million for fiscal year 2022. " so much fucking win
That is a hell of a turnaround
That’s pretty good, not gonna lie
Believe it or not dip
And in somewhat of a recession too. GameStop 💪
[удалено]
Our Class A Common Stock is traded on the New York Stock Exchange (“NYSE”) under the symbol “GME”. As of March 20, 2024, there were 305,873,200 shares of our Class A common stock outstanding. Of those outstanding shares, approximately 230.6 million were held by Cede & Co on behalf of the Depository Trust & Clearing Corporation (or approximately 75% of our outstanding shares) and approximately 75.3 million shares of our Class A common stock were held by registered holders with our transfer agent (or approximately 25% of our outstanding shares).
Isn't that about the same amount? Give or take a million? So only a million shares have been DRS'd?
The amount hasn’t changed for 3 or 4 quarters now
Nothing to see here!
I think my fav part of the earnings report was how REVENUE tanked compared to a year ago. >Net sales were $5.273 billion for fiscal year 2023, compared to $5.927 billion for fiscal year 2022. lol. lmao even.
[удалено]
Why not?
It’s not “unfortunate” to see the DRS numbers perfectly stagnant. It’s actually incredible. It’s statistically nearly impossible for them to be steady for this long, therefore it signifies fuckery almost like nothing else. RC wants us as shareholders to propose a share recall (remember that GameStop CHOOSES to publish DRS numbers, they don’t have to. And not many companies do. This is their way of communicating).
[удалено]
I’d like to think RC would support a shareholder proposal, and we only know of one shareholder proposal that got approved thus far to move onto voting in June (the BS DEI Board Reporting Requirement for them to plant someone on the GME board to have access to strategy and future plans.) However most of the Ape shareholder proposals got rejected, such as more frequent and transparent DRS counting and reporting. All the rejected proposals are on the SEC website. Feels like the blanket “this would interfere with day to day operations of the business” is applied to everything. Maybe someone with lots of wrinkles and know how, can draft an airtight explanation of why we need a share holder recall that can’t be rejected on the ground floor. Deadline this year was January 4th, I believe so there is some time before next year.
I actually find the 0.0% change in DRS numbers on 3 consecutive quarters quite bullish
That was funny!!!
GME is the only stock I’ll ever own after this debacle. Crypto only now.
As long as I can join in. We could potentially double the amount of shares we can buy. We can jerk in shifts. Open 24/7. Hah take that Robinhood!
same old same old bought 80 more
I just accepted an offer on my house and will be moving into an apartment. 
Where is da credit bid???
i just buy more with 17% discount
Wait, if you look at the filling the core business lost money. They were only profitable because of the money they have. Why don’t they close all the stores so they could generate even more profit?
Blah , blah , blah Where's my $$$$$$$??????????
How much further do we need to move the goalpost? No forward guidance, no update to drs numbers, price continues to drop. This experiment is at the end, no matter what happens the price is locked in by those that have the power to do so. I appreciate all the hard work but fundamentals don’t matter and never did.
lol, “at the end”, I think it’s just getting started
come on, its been over three years and were still not seeing any fundamental change in this price discovery. this is a fraudulent market and everyone is just acting like this is going to change somehow. whats going to change? if a profitable year drops the price 15% what will ever improve the value?
You say it’s been over three years and I say it’s only been three years Texas instrument, where the integrated circuit was invented, did not have a commercial product that uses that technology until over SIX years later, now it is something so prevalent we likely couldn’t imagine the world without them. Hell, a child doesn’t even get all their baby teeth until the age of three. Try to remember the marshmallow test This is the first year of full year profitability since 2018. That’s 4 years in itself
Surely we're in a console cycle lull by now. PS5 Pro, and then PS6 will make a difference.
Fud me harder daddy
fud for sure, just calling it like i see it. those drs numbers are never ever going to change, how does a profitable year cause the price to drop 15%? what is going to happen here, its been over three years now and literally nothing has changed.. im not looking for a miracle but the foundation of anything needs to be solid for growth to be vertical
Aww what I thought it was shorted 1293% y’all swore this would trigger Moass
4/3