Q4 2025 Earnings — Results of Operations, Reg FD Disclosure

Bookings surged 55% to $6.8 billion for fiscal 2025 while DAUs jumped 69% year-over-year to 144 million, driving $1.8 billion in operating cash flow and 155% free cash flow growth in Q4. The company sees a much bigger runway ahead, targeting 10% of the global gaming content market (up from 3.4% today), with its fastest-growing and highest-monetizing cohort — adults 18-34 — still under 10% penetrated in the U.S.