Results
SECOND QUARTER HIGHLIGHTS
Operating income of $160.2 million was the highest second quarter operating income in GameStop's history.
3Collectibles net sales grew 57% year over year to $356.3 million and now represent 45.1% of net sales.
The Company had cash, cash equivalents, marketable securities and digital assets and related receivables of $5.4 billion, and investment in eBay Inc. ("eBay") common stock of $4.9 billion as of August 1, 2026.
1The Company raised its fiscal year 2026 Adjusted EBITDA outlook to in excess of $650 million.Guidance raised
SECOND QUARTER OVERVIEW
8Net sales were $790.2 million for the second quarter, compared to $972.2 million in the prior year's second quarter.
The decrease primarily reflects the prior-year launch of Nintendo Switch 2, planned store closures, and the divestiture of the Company's France operations.
6Collectibles net sales were $356.3 million for the second quarter, or 45.1% of net sales, compared to $227.6 million, or 23.4% of net sales, in the prior year's second quarter.
Selling, general and administrative (“SG&A”) expenses were $187.1 million for the second quarter, compared to $218.8 million in the prior year's second quarter.
7Operating income was $160.2 million for the second quarter, the highest second quarter operating income in GameStop's history, compared to operating income of $66.4 million in the prior year's second quarter.
5Excluding impairment and other items, adjusted operating income was $158.7 million for the second quarter compared to adjusted operating income of $64.7 million in the prior year's second quarter.
Net income was $298.7 million for the second quarter, compared to net income of $168.6 million for the prior year’s second quarter.
Excluding impairments, loss (gain) on digital assets and related receivables, gain on derivative asset, unrealized gain on equity investment, and other items, adjusted net income was $161.1 million for the second quarter compared to adjusted net income of $138.3 million for the prior year's second quarter.
Adjusted EBITDA was $174.0 million for the second quarter, compared to $75.7 million in the prior year's second quarter.
Total cash, cash equivalents, marketable securities, digital assets and related receivables were $5.4 billion at the close of the second quarter.
This included $5.1 billion of cash, cash equivalents, and marketable securities (compared to $8.7 billion at the close of the prior year's second quarter) and $0.3 billion in digital assets and related receivables.
As of August 1, 2026, the Company held approximately 43.4 million shares of eBay common stock with a fair value of approximately $4.9 billion.
Corporate events
4As previously announced, on September 3, 2026, the Company completed privately negotiated exchanges retiring approximately $1.4 billion aggregate principal amount of its 0.00% Convertible Senior Notes due 2030 and 0.00% Convertible Senior Notes due 2032, reducing total long-term debt to approximately $2.8 billion.
Results
Beginning with this quarter, the Company reports net sales in three categories (Collectibles, Video Games, and Pre-Owned and Refurbished), which aligns with how management views and operates the business.
Prior-period amounts have been recast to conform to the new presentation.
See “Sales Mix” in Schedule I below.
Outlook
FISCAL YEAR 2026 OUTLOOK
2For the fiscal year ending January 30, 2027, the Company now expects to generate Adjusted EBITDA in excess of $650 million, an increase from its prior outlook of Adjusted EBITDA in excess of $600 million provided on June 26, 2026.Guidance raised
Adjusted EBITDA for the first six months of fiscal year 2026 was $339.7 million .
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