Filing Flows › GameStop (GME) › Q1 FY26
GameStop (GME) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jun 10, 2025
GameStop (GME) reported revenue of $732M for the first quarter fiscal 2026 (Q1 FY26), -17% from a year earlier and -43% from the quarter before. Operating margin was -1.5%, net earnings $44.8M (6.1% of revenue).
GameStop, Q1 FY26: revenue $732M (-17% year over year), operating margin -1.5%, net earnings $44.8M, operating cash flow $192M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $732M | -43% | -17% |
| Operating profit | −$10.8M | -114% | — |
| Net earnings | $44.8M | -66% | — |
| Operating cash flow | $192M | +19% | — |
| Free cash flow | $190M | +19% | — |
What changed
Revenue was $732.4M in Q1 FY26, down 17% year over year and down 43% from the previous quarter. United States was the largest line at 73% of revenue. United States lost $79.8M year over year (down 13%), 53% of the total change.
Gross margin was 34.5%, up 6.8 points from a year earlier. Operating costs exceeded revenue by $10.8M, an operating margin of -1.5%. Operating expenses fell 11% while revenue fell 17%. Net earnings were $44.8M. The effective tax rate was 7.2%. Non-operating items added $59.1M, 122% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $192.5M, 430% of net earnings. Non-cash charges added back $5.5M of share-based compensation. Working capital and other items added $142.2M. Capital expenditures of $2.9M left free cash flow of $189.6M.
Questions
What was GameStop's revenue in the first quarter fiscal 2026?
GameStop (GME) reported revenue of $732M for the first quarter fiscal 2026 (Q1 FY26), -17% from a year earlier and -43% from the quarter before.
Was GameStop profitable in the first quarter fiscal 2026?
Operating loss was $10.8M (-1.5% of revenue) and net earnings $44.8M.
Source: GameStop 10-Q on SEC EDGAR.