Satisfaction with availability of ‘good, affordable housing' drops: Gallup
Satisfaction with the availability of 'good, affordable housing' has dropped in some of the world's wealthiest economies, a new survey from Gallup found.
According to the survey, people living in countries associated with the Organization for Economic Co-operation and Development (OCED) have become increasingly dissatisfied with housing options.
OCED is a group of 38 high-income, market-based economies, Gallup said.
After the global financial crisis of 2008, wealthier economies were more satisfied with housing than the rest of the world, but that changed in 2021, the survey found.
In 2024, 43 percent across OCED countries were satisfied with the availability of good, affordable housing nearby, compared to 50 percent across the rest of the world.
That figure from respondents in OCED countries is higher than in 2022 and 2023, but still low compared to years past. In 2009 and 2010, more than 50 percent in OCED countries were satisfied with housing options, while satisfaction in non-OCED countries lagged.
In 2019, non-OCED countries surpassed OCED countries in terms of satisfaction for affordable housing in local areas.
Turkey, Canada, the United States, the Netherlands and Australia recorded their lowest satisfaction figures in 2024 compared to long-term averages in the countries, Gallup noted.
Just one OCED country, Estonia, saw satisfaction last year that was double-digit percentage points higher than its average.
The Gallup survey follows a U.S.-based report from Zillow that found that in more than 230 cities across the country, $1 million is only enough for a starter home, a massive jump in home prices from just a few years ago.
While most of the wealthy countries are reporting lower satisfaction in housing availability, most people aren't struggling to afford adequate housing, Gallup noted.
Last year, just 11 percent of adults in OCED countries said they didn't have enough money to provide adequate housing over the past 12 months compared to 38 percent in non-OCED countries.
The difference in satisfaction levels likely stems from people's expectations toward housing, Gallup said.
'In higher-income countries, people may feel dissatisfied not necessarily because they're homeless or on the brink, but because they perceive a decline in housing relative to what they believe should be available — such as affordable rent, homeownership or choice — even if shelter is technically secure for most,' the anaysis read. 'Meanwhile, in lower-income countries, satisfaction may be buoyed by gradual improvements in access to basic housing, despite greater material hardship overall.'
The Gallup survey was conducted between April and November 2024 among roughly 1,000 adults living in each OCED country. It has a margin of error that ranges from 3.4 percent to 4.9 percent.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Investors may also listen to the conference live on the MIND Technology website, by logging onto the site and clicking "Investor Relations". A telephonic replay of the conference call will be available through June 18, 2025, and may be accessed by calling (201) 612-7415 and using passcode 13753958#. A webcast archive will also be available at shortly after the call and will be accessible for approximately 90 days. For more information, please contact Dennard Lascar Investor Relations by email at MIND@ ABOUT MIND TECHNOLOGY MIND Technology, Inc. provides technology to the oceanographic, hydrographic, defense, seismic and security industries. Headquartered in The Woodlands, Texas, MIND has a global presence with key operating locations in the United States, Singapore, Malaysia, and the United Kingdom. Its Seamap unit designs, manufactures and sells specialized, high performance, marine exploration and survey equipment. Forward-looking Statements Certain statements and information in this press release concerning results for the quarter ended April 30, 2025 may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans, and our objectives for future operations, are forward-looking statements. The words "believe," "expect," "anticipate," "plan," "intend," "should," "would," "could" or other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate. All comments concerning our expectations for future revenues and operating results are based on our forecasts of our existing operations and do not include the potential impact of any future acquisitions or dispositions. Our forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, without limitation, reductions in our customers' capital budgets, our own capital budget, limitations on the availability of capital or higher costs of capital, and volatility in commodity prices for oil and natural gas. For additional information regarding known material factors that could cause our actual results to differ from our projected results, please see our filings with the SEC, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. We undertake no obligation to publicly update or revise any forward-looking statements after the date they are made, unless required by law, whether as a result of new information, future events or otherwise. All forward-looking statements included in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Non-GAAP Financial Measures Certain statements and information in this press release contain non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with United States generally accepted accounting principles, or GAAP. Company management believes that these non-GAAP financial measures, when considered together with the GAAP financial measures, provide information that is useful to investors in understanding period-over-period operating results separate and apart from items that may, or could, have a disproportionately positive or negative impact on results in any particular period. Company management also believes that these non-GAAP financial measures enhance the ability of investors to analyze the Company's business trends and to understand the Company's performance. In addition, the Company may utilize non-GAAP financial measures as guides in its forecasting, budgeting, and long-term planning processes and to measure operating performance for some management compensation purposes. Any analysis of non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Reconciliation of Backlog, which is a non-GAAP financial measure, is not included in this press release due to the inherent difficulty and impracticality of quantifying certain amounts that would be required to calculate the most directly comparable GAAP financial measures. -Tables to Follow- MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except per share data) (unaudited)April 30, 2025 January 31, 2025ASSETSCurrent assets: Cash and cash equivalents$ 9,172 $ 5,336Accounts receivable, net of allowance for credit losses of $332 at each of April 30, 2025 and January 31, 2025 7,77911,817Inventories, net 13,44713,745Prepaid expenses and other current assets 1,3101,217Total current assets 31,70832,115Property and equipment, net 1,048890Operating lease right-of-use assets 1,2211,320Intangible assets, net 2,1622,308Deferred tax asset 8787Total assets$ 36,226 $ 36,720LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities: Accounts payable$ 2,011 $ 2,558Deferred revenue 514189Customer deposits 1,8071,603Accrued expenses and other current liabilities 1,3581,245Income taxes payable 2,6812,473Operating lease liabilities - current 570577Total current liabilities 8,9418,645Operating lease liabilities - non-current 651743Total liabilities 9,5929,388Stockholders' equity: Common stock, $0.01 par value; 40,000 shares authorized; 7,969 shares issued and outstanding at April 30, 2025 and January 31, 2025 8080Additional paid-in capital 135,938135,666Accumulated deficit (109,418)(108,448)Accumulated other comprehensive gain 3434Total stockholders' equity 26,63427,332Total liabilities and stockholders' equity$ 36,226 $ 36,720 MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share data) (unaudited)For the Three Months Ended April 30,2025 2024Revenues: Sales of marine technology products$ 7,902 $ 9,678Cost of sales: Sales of marine technology products 4,5715,460Gross profit 3,3314,218Operating expenses: Selling, general and administrative 3,3842,759Research and development 380462Depreciation and amortization 225267Total operating expenses 3,9893,488Operating income (loss) (658)730Other income (expense): Other, net (18)469Total other income (expense) (18)469Income (loss) before income taxes (676)1,199Provision for income taxes (294)(245)Net income (loss)$ (970) $ 954Preferred stock dividends - undeclared —(947)Net income (loss) attributable to common stockholders$ (970) $ 7Net loss per common share - Basic and diluted Net loss$ (0.12) $ —Shares used in computing net income (loss) per common share: Basic and diluted 7,9691,406 MIND TECHNOLOGY, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited)For the Three Months Ended April 30,2025 2024Cash flows from operating activities: Net income (loss)$ (970) $ 954Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization 225267Stock-based compensation 27248Provision for inventory obsolescence 1523Gross profit from sale of other equipment —(457)Changes in: Accounts receivable 3,969(2,837)Unbilled revenue 16(10)Inventories 282(2,812)Prepaid expenses and other current and long-term assets (92)100Income taxes receivable and payable 208(186)Accounts payable, accrued expenses and other current liabilities (386)277Deferred revenue and customer deposits 529(120)Net cash provided by (used in) operating activities 4,068(4,753)Cash flows from investing activities: Purchases of property and equipment (237)(66)Sale of other equipment —457Net cash (used in) provided by investing activities (237)391Cash flows from financing activities: Net cash provided by financing activities ——Effect of changes in foreign exchange rates on cash and cash equivalents 5(3)Net change in cash and cash equivalents 3,836(4,365)Cash and cash equivalents, beginning of period 5,3365,289Cash and cash equivalents, end of period$ 9,172 $ 924 MIND TECHNOLOGY, INC. Reconciliation of Net Income (Loss) and Net Cash Used in Operating Activities to EBITDA and Adjusted EBITDA from Continuing Operations (in thousands) (unaudited)For the Three Months Ended April 30,2025 2024Reconciliation of Net income (loss) to EBITDA and Adjusted EBITDA(in thousands)Net income (loss)$ (970) $ 954Depreciation and amortization 225267Provision for income taxes 294245EBITDA (1) (451)1,466Stock-based compensation 27248Adjusted EBITDA (1)$ (179) $ 1,514Reconciliation of Net Cash Provided by (Used in) Operating Activities to EBITDA Net cash provided by (used in) operating activities$ 4,068 $ (4,753)Stock-based compensation (272)(48)Provision for inventory obsolescence (15)(23)Changes in accounts receivable (current and long-term) (3,985)2,847Taxes paid, net of refunds 80430Gross profit from sale of other equipment —457Changes in inventory (282)2,812Changes in accounts payable, accrued expenses and other current liabilities and deferred revenue (143)(157)Changes in prepaid expenses and other current and long-term assets 92(100)Other 61EBITDA (1)$ (451) $ 1,4661. EBITDA and Adjusted EBITDA are non-GAAP financial measures. EBITDA is defined as net income before (a) interest income and interest expense, (b) provision for (or benefit from) income taxes and (c) depreciation and amortization. Adjusted EBITDA excludes non-cash foreign exchange gains and losses, stock-based compensation, impairment of intangible assets and other non-cash tax related items. We consider EBITDA and Adjusted EBITDA to be important indicators for the performance of our business, but not measures of performance or liquidity calculated in accordance with GAAP. We have included these non-GAAP financial measures because management utilizes this information for assessing our performance and liquidity, and as indicators of our ability to make capital expenditures, service debt and finance working capital requirements and we believe that EBITDA and Adjusted EBITDA are measurements that are commonly used by analysts and some investors in evaluating the performance and liquidity of companies such as us. In particular, we believe that it is useful to our analysts and investors to understand this relationship because it excludes transactions not related to our core cash operating activities. We believe that excluding these transactions allows investors to meaningfully trend and analyze the performance of our core cash operations. EBITDA and Adjusted EBITDA are not measures of financial performance or liquidity under GAAP and should not be considered in isolation or as alternatives to cash flow from operating activities or as alternatives to net income as indicators of operating performance or any other measures of performance derived in accordance with GAAP. In evaluating our performance as measured by EBITDA, management recognizes and considers the limitations of this measurement. EBITDA and Adjusted EBITDA do not reflect our obligations for the payment of income taxes, interest expense or other obligations such as capital expenditures. Accordingly, EBITDA and Adjusted EBITDA are only two of the measurements that management utilizes. Other companies in our industry may calculate EBITDA or Adjusted EBITDA differently than we do and EBITDA and Adjusted EBITDA may not be comparable with similarly titled measures reported by other companies. Contacts: Rob Capps, President & CEOMIND Technology, Inc.281-353-4475 Ken Dennard / Zach VaughanDennard Lascar Investor Relations713-529-6600MIND@ View original content: SOURCE MIND Technology, Inc.

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The following factors, among others, could cause actual developments, business decisions, outcomes and results to differ materially from those reflected or described in the forward-looking statements: economic, social, and political conditions in the markets in which we operate; the competitive nature of the Company's industry; the cyclicality of the video game industry; the Company's dependence on the timely delivery of new and innovative products from its vendors; the impact of technological advances in the video game industry and related changes in consumer behavior on the Company's sales; interruptions to the Company's supply chain or the supply chain of our suppliers; the Company's dependence on sales during the holiday selling season; the Company's ability to obtain favorable terms from its current and future suppliers and service providers; the Company's ability to anticipate, identify and react to trends in pop culture with regard to its sales of collectibles; the Company's ability to maintain strong retail and ecommerce experiences for its customers; the Company's ability to keep pace with changing industry technology and consumer preferences; the Company's ability to manage its profitability and cost reduction initiatives; changes in senior management or the Company's ability to attract and retain qualified personnel; potential damage to the Company's reputation or customers' perception of the Company; the Company's ability, or the ability of the third parties with whom we work, to maintain the security of our information technology systems or data (including customer, associate or Company information); the Company's compliance with stringent and evolving laws and other obligations related to data privacy and security; occurrence of weather events, natural disasters, public health crises and other unexpected events; risks associated with inventory shrinkage; potential failure or inadequacy of the Company's computerized systems; the ability of the Company's third party delivery services to deliver products to the Company's retail locations, fulfillment centers and consumers and changes in the terms the Company has with such service providers; the ability and willingness of the Company's vendors to provide marketing and merchandising support at historical or anticipated levels; restrictions on the Company's ability to purchase and sell pre-owned products; the Company's ability to renew or enter into new leases on favorable terms; unfavorable changes in the Company's global tax rate; legislative actions; the Company's ability to comply with federal, state, local and international laws and regulations and statutes; changes to tariff and import/export regulations; potential litigation and other legal proceedings; the value of the Company's investment holdings; concentration of the Company's investment portfolio into one or fewer holdings; the recognition of losses in a particular investment even if the Company has not sold the investment; potential variability in the Company's earnings due to our current and potential future holdings of equity securities or certain crypto-currencies, including our current holdings of Bitcoin; volatility in the Company's stock price, including volatility due to potential short squeezes; continued high degrees of media coverage by third parties; the availability and future sales of substantial amounts of the Company's Class A common stock; fluctuations in the Company's results of operations from quarter to quarter; the Company's ability to generate sufficient cash flow to fund its operations; the Company's ability to incur additional debt; dilution to current stockholders caused by the conversion of the Company's convertible debt securities; risks associated with the Company's investment in marketable, nonmarketable and interest-bearing securities, including the impact of such investments on the Company's financial results; and the Company's ability to maintain effective internal control over financial reporting. Additional factors that could cause results to differ materially from those reflected or described in the forward-looking statements can be found in GameStop's most recent Annual Report on Form 10-K and other filings made from time to time with the SEC and available at or on the Company's investor relations website ( Forward-looking statements contained in this press release speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws. GameStop Statements of Operations(in millions, except per share data)(unaudited) 13 Weeks Ended May 3, 2025 13 Weeks Ended May 4, 2024 Net sales $ 732.4 $ 881.8 Cost of sales 479.6 637.3 Gross profit 252.8 244.5 Selling, general and administrative expenses 228.1 295.1 Asset Impairments 35.5 — Operating loss (10.8 ) (50.6 ) Interest income, net (56.9 ) (14.9 ) Other income, net (2.2 ) — Income (loss) before income taxes 48.3 (35.7 ) Income tax expense (benefit) 3.5 (3.4 ) Net income (loss) $ 44.8 $ (32.3 ) Net income (loss) per share: Basic Income (loss) per share $ 0.10 $ (0.11 ) Diluted income (loss) per share $ 0.09 $ (0.11 ) Weighted-average common shares outstanding: Basic 447.1 305.9 Diluted 497.9 305.9 Percentage of Net Sales: Net sales 100.0 % 100.0 % Cost of sales 65.5 72.3 Gross profit 34.5 27.7 Selling, general and administrative expenses 31.1 33.5 Asset Impairments 4.8 — Operating loss (1.5 ) (5.7 ) Interest income, net (7.8 ) (1.7 ) Other income, net (0.3 ) — Income (loss) before income taxes 6.6 (4.0 ) Income tax expense (benefit) 0.5 (0.4 ) Net income (loss) 6.1 % (3.7 )% GameStop Statements of Operations by Segment(in millions, except per share data)(unaudited) United States Canada Australia Europe Total As of and for the Quarter ended May 3, 2025 Net sales $ 537.5 $ 38.2 $ 81.9 $ 74.8 $ 732.4 Cost of sales 343.6 28.2 55.0 52.8 $ 479.6 Gross Profit 193.9 10.0 26.9 22.0 $ 252.8 Selling, general and administrative expenses: 160.3 13.9 32.3 21.6 $ 228.1 Store related 131.6 11.3 26.6 22.4 $ 191.9 Other 28.7 2.6 5.7 (0.8 ) $ 36.2 Asset impairments — 18.3 — 17.2 35.5 Operating income (loss) 33.6 (22.2 ) (5.4 ) (16.8 ) (10.8 ) Interest income (56.9 ) Other income, net (2.2 ) Income before income taxes 48.3 Income tax expense 3.5 Net income 44.8 Property and equipment, net(1) 37.5 — 16.7 — 54.2 Capital expenditures 1.2 0.1 1.0 0.6 2.9 United States Canada Australia Europe Total As of and for the Quarter ended May 4, 2024 Net sales $ 617.3 $ 42.6 $ 79.6 $ 142.3 $ 881.8 Cost of sales 448.5 31.6 53.4 103.8 637.3 Gross Profit 168.8 11.0 26.2 38.5 244.5 Selling, general and administrative expenses: 194.1 15.5 34.3 51.2 295.1 Store related 168.2 11.9 28.2 44.4 252.7 Other 25.9 3.6 6.1 6.8 42.4 Operating loss (25.3 ) (4.5 ) (8.1 ) (12.7 ) (50.6 ) Interest income (14.9 ) Loss before income taxes (35.7 ) Income tax benefit (3.4 ) Net loss (32.3 ) Property and equipment, net 44.9 2.0 19.6 15.9 82.4 Capital expenditures 2.5 0.7 1.2 0.5 4.9 (1) Property and equipment, net for Canada and France (Europe) is classified in Assets held for sale on our Condensed Consolidated Balance Sheets. GameStop Consolidated Balance Sheets(in millions)(unaudited) May 3, 2025 May 4, 2024 ASSETS: Current assets: Cash and cash equivalents $ 6,385.8 $ 999.9 Marketable securities — 83.0 Receivables, net of allowance of $0.9 and $4.4, respectively 44.1 58.9 Merchandise inventories, net 421.3 675.8 Prepaid expenses and other current assets 29.3 62.1 Assets held for sale 226.2 9.4 Total current assets 7,106.7 1,889.1 Property and equipment, net of accumulated depreciation of $572.5 and $843.6, respectively 54.2 82.4 Operating lease right-of-use assets 272.5 542.0 Deferred income taxes 18.7 17.5 Other noncurrent assets 50.5 56.1 Total assets $ 7,502.6 $ 2,587.1 LIABILITIES AND STOCKHOLDERS' EQUITY: Current liabilities: Accounts payable $ 198.4 $ 282.7 Accrued liabilities and other current liabilities 328.4 377.1 Current portion of operating lease liabilities 113.3 177.7 Current portion of long-term debt — 10.8 Liabilities held for sale 207.2 — Total current liabilities 847.3 848.3 Long-term debt, net 1,480.7 14.9 Operating lease liabilities 167.8 385.3 Other long-term liabilities 19.4 31.3 Total liabilities 2,515.2 1,279.8 Total stockholders' equity 4,987.4 1,307.3 Total liabilities and stockholders' equity $ 7,502.6 $ 2,587.1 GameStop Consolidated Statements of Cash Flows(in millions)(unaudited) 13 Weeks Ended May 3, 2025 13 Weeks Ended May 4, 2024 Cash flows from operating activities: Net income (loss) $ 44.8 $ (32.3 ) Adjustments to reconcile net income (loss) to net cash flows from operating activities: Depreciation and amortization 5.6 16.8 Stock-based compensation expense, net 5.5 0.6 (Gain) loss on disposal of property and equipment, net (1.5 ) 0.3 Asset impairments 35.5 — Other, net (0.4 ) (0.6 ) Changes in operating assets and liabilities: Receivables, net 12.0 33.4 Merchandise inventories, net (10.1 ) (43.2 ) Prepaid expenses and other current assets 6.7 8.5 Prepaid income taxes and income taxes payable (1.6 ) (5.1 ) Accounts payable and accrued liabilities 110.3 (87.8 ) Operating lease right-of-use assets and liabilities (0.6 ) 1.1 Changes in other long-term liabilities (13.7 ) (1.5 ) Net cash flows provided by (used in) operating activities 192.5 (109.8 ) Cash flows from investing activities: Purchases of marketable securities (14.7 ) (7.5 ) Proceeds from maturities and sales of marketable securities 22.6 201.9 Capital expenditures (2.9 ) (4.9 ) Proceeds from other divestitures 2.2 — Other 0.1 0.3 Net cash flows provided by investing activities 7.3 189.8 Cash flows from financing activities: Proceeds from the issuance of convertible debt 1,500.0 — Debt issuance costs from convertible debt (19.3 ) — Repayments of debt (2.7 ) (2.7 ) Proceeds from equity awards directly withheld from employees for tax purposes 2.3 2.2 Payments to tax authorities for equity awards directly withheld from employees (2.3 ) (2.2 ) Net cash flows provided by (used in) financing activities 1,478.0 (2.7 ) Exchange rate effect on cash, cash equivalents and restricted cash 5.9 1.3 Less: Net change in cash balance classified as assets held for sale (49.4 ) — Increase in cash, cash equivalents, and restricted cash 1,634.3 78.6 Cash, cash equivalents and restricted cash at beginning of period 4,789.8 938.9 Cash, cash equivalents and restricted cash at end of period $ 6,424.1 $ 1,017.5 Schedule ISales Mix(in millions)(unaudited) 13 Weeks Ended May 3, 2025 13 Weeks Ended May 4, 2024 Net Percent Net Percent Net Sales: Sales of Total Sales of Total Hardware and accessories (1) $ 345.3 47.1 % $ 505.3 57.3 % Software (2) 175.6 24.0 % 239.7 27.2 % Collectibles (3) 211.5 28.9 % 136.8 15.5 % Total $ 732.4 100.0 % $ 881.8 100.0 % (1) Includes sales of new and pre-owned hardware, accessories, hardware bundles in which hardware and digital or physical software are sold together in a single SKU, interactive game figures, strategy guides, mobile and consumer electronics. (2) Includes sales of new and pre-owned video game software, digital software and PC entertainment software. (3) Includes the sale of apparel, toys, trading cards, gadgets and other products for pop culture and technology enthusiasts. GameStop II(in millions, except per share data)(unaudited) Non-GAAP results The following tables reconcile the Company's selling, general and administrative expenses ("SG&A expense"), operating loss, net income (loss) and net income (loss) per share as presented in its unaudited consolidated statements of operations and prepared in accordance with U.S. generally accepted accounting principles ("GAAP") to its adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss), adjusted EBITDA and adjusted net income (loss) per share. The diluted weighted-average shares outstanding used to calculate adjusted earnings per share may differ from GAAP weighted-average shares outstanding. Under GAAP, basic and diluted weighted-average shares outstanding are the same in periods where there is a net loss. The reconciliations below are from continuing operations only. 13 Weeks Ended 13 Weeks Ended May 3, 2025 May 4, 2024 Adjusted SG&A expense SG&A expense $ 228.1 295.1 Transformation costs(1) (2.8 ) 4.4 Adjusted SG&A expense $ 225.3 $ 299.5 Adjusted Operating Income (Loss) Operating (loss) income $ (10.8 ) $ (50.6 ) Transformation costs(1) 2.8 (4.4 ) Asset impairments (2) 35.5 — Adjusted operating income (loss) $ 27.5 $ (55.0 ) Adjusted Net Income (Loss) Net Income (loss) $ 44.8 $ (32.3 ) Transformation costs(1) 2.8 (4.4 ) Asset impairments(2) 35.5 — Adjusted net income (loss) $ 83.1 $ (36.7 ) Adjusted net income (loss) per share Basic $ 0.19 $ (0.12 ) Diluted 0.17 (0.12 ) Number of shares used in adjusted calculation Basic 447.1 305.9 Diluted 497.9 305.9 (1) Transformation costs include severance, stock-based compensation forfeitures related to workforce optimization efforts and departures of key personnel, adjustments to reserves for expenses for consultants and advisors related to transformation initiatives, and other costs in connection with the transformation initiatives. (2) Incurred in connection with the commitment made by management during the first quarter of fiscal 2025 to divest the Company's operations in Canada and France. 13 Weeks Ended 13 Weeks Ended May 3, 2025 May 4, 2024 Reconciliation of Net Income (loss) to Adjusted EBITDA Net income (loss) $ 44.8 $ (32.3 ) Interest income, net (56.9 ) (14.9 ) Depreciation and amortization 5.6 16.8 Income tax expense (benefit) 3.5 (3.4 ) EBITDA $ (3.0 ) $ (33.8 ) Stock-based compensation 5.5 0.6 Transformation costs(1) 2.8 (4.4 ) Divestitures and other (2.2 ) — Asset impairments(2) 35.5 — Adjusted EBITDA $ 38.6 $ (37.6 ) (1) Transformation costs include severance, stock-based compensation forfeitures related to workforce optimization efforts and departures of key personnel, adjustments to reserves for expenses for consultants and advisors related to transformation initiatives, and other costs in connection with the transformation initiatives. (2) Incurred in connection with the commitment made by management during the first quarter of fiscal 2025 to divest the Company's operations in Canada and France. GameStop III(in millions)(unaudited) Non-GAAP results The following table reconciles the Company's cash flows provided by (used in) operating activities as presented in its unaudited Consolidated Statements of Cash Flows and prepared in accordance with GAAP to its free cash flow. Free cash flow is considered a non-GAAP financial measure. Management believes, however, that free cash flow, which measures our ability to generate additional cash from our business operations, is an important financial measure for use by investors in evaluating the company's financial performance. 13 Weeks Ended 13 Weeks Ended May 3, 2025 May 4, 2024 Net cash flows provided by (used in) operating activities $ 192.5 $ (109.8 ) Capital expenditures (2.9 ) (4.9 ) Free cash flow $ 189.6 $ (114.7 ) Non-GAAP Measures and Other Metrics Adjusted EBITDA, adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss) and adjusted net income (loss) per share are supplemental financial measures of the Company's performance that are not required by, or presented in accordance with, GAAP. We believe that the presentation of these non-GAAP financial measures provide useful information to investors in assessing our financial condition and results of operations. We define adjusted EBITDA as net income (loss) before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs, business divestitures, asset impairments, severance and other non-cash charges. Net income (loss) is the GAAP financial measure most directly comparable to adjusted EBITDA. Our non-GAAP financial measures should not be considered as an alternative to the most directly comparable GAAP financial measure. Furthermore, non-GAAP financial measures have limitations as an analytical tool because they exclude some but not all items that affect the most directly comparable GAAP financial measures. Some of these limitations include: certain items excluded from adjusted EBITDA are significant components in understanding and assessing a company's financial performance, such as a company's cost of capital and tax structure; adjusted EBITDA does not reflect our cash expenditures or future requirements for capital expenditures or contractual commitments; adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future, and adjusted EBITDA does not reflect any cash requirements for such replacements; and our computations of adjusted EBITDA may not be comparable to other similarly titled measures of other companies. We compensate for the limitations of adjusted EBITDA, adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss) and adjusted net income (loss) per share as analytical tools by reviewing the comparable GAAP financial measure, understanding the differences between the GAAP and non-GAAP financial measures and incorporating these data points into our decision-making process. Adjusted EBITDA, adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss) and adjusted net income (loss) per share are provided in addition to, and not as an alternative to, the Company's financial results prepared in accordance with GAAP, and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. Because adjusted EBITDA, adjusted SG&A expense, adjusted operating income (loss), adjusted net income (loss) and adjusted net income (loss) per share may be defined and determined differently by other companies in our industry, our definitions of these non-GAAP financial measures may not be comparable to similarly titled measures of other companies, thereby diminishing their utility. View source version on Contacts GameStop Investor Relations817-424-2001ir@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data