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Get filing alertsGameStop raises FY2026 EBITDA guidance 74% to >$600M, advances eBay acquisition
Filed June 26, 2026 · Period ending June 26, 2026 · ~2 min read
Key Changes
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GameStop projects Adjusted EBITDA exceeding $600M for fiscal 2026 (ending Jan 2027), up 74% from prior year's $345.4M, citing expectations around consumer demand, supply chain, cost initiatives, and store operations.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
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Company confirms active pursuit of eBay acquisition, disclosing ownership of 4.3M eBay shares plus derivative exposure to 39M additional shares through put/call options expiring Feb 2028, now physically settleable after HSR clearance.
Exhibit 99.1 view on EDGAR → -
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GameStop's May 3 non-binding proposal values eBay at $125/share in cash and GameStop stock for all shares not already owned, representing a transformational strategic expansion beyond gaming retail.
Exhibit 99.1 view on EDGAR → -
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Filing warns that failure to secure stockholder approval for CEO Ryan Cohen's performance-based stock option award could adversely impact strategy execution and growth goals, highlighting Cohen's central role.
Exhibit 99.1 view on EDGAR → -
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Adjusted EBITDA excludes stock-based comp, transformation costs, asset impairments, and gains/losses on digital assets and derivatives; company cannot reconcile forward guidance to GAAP net income without unreasonable effort.
Item 7.01 — Regulation FD Disclosure verify on EDGAR →
Summary
GameStop issued its first formal fiscal 2026 guidance, projecting Adjusted EBITDA above $600 million—a 74% jump from the prior year's $345.4 million. Management attributes the improved outlook to favorable expectations across consumer demand, supply chain conditions, cost management, and store operations.
This marks a significant profitability inflection for a company that has spent years restructuring its legacy gaming retail business. Simultaneously, the filing confirms GameStop is actively pursuing an acquisition of eBay, a deal that would dwarf the company's current operations.
GameStop owns 4.3 million eBay shares outright and holds derivative positions providing economic exposure to another 39 million shares through put/call options expiring in February 2028. Following HSR Act clearance on June 3, these derivatives became physically settleable, giving GameStop the option to take actual delivery. The company's May 3 non-binding proposal values eBay at $125 per share in a mix of cash and GameStop stock. If consummated, this would represent a dramatic strategic pivot from specialty retail into a major e-commerce platform. The filing also flags an upcoming stockholder vote on a performance-based stock option award for CEO Ryan Cohen, warning that failure to approve it could impair the company's ability to execute its strategy. This underscores Cohen's central role in both the operational turnaround and the eBay pursuit. Investors should watch for additional eBay transaction disclosures and the outcome of the Cohen compensation vote.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Item 7.01 — Regulation FD Disclosure filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
We define adjusted EBITDA as net income before income taxes, plus interest income, net and depreciation and amortization, excluding stock-based compensation, certain transformation costs (including severance and other costs), business divestitures, asset impairments, gain (loss) on digital assets and related receivables, unrealized gain (loss) on derivative assets, and other non-cash charges.
The filing provides the company's definition of Adjusted EBITDA, a non-GAAP measure that excludes various items including stock-based compensation, transformation costs, asset impairments, and gains or losses on digital assets and derivatives. This definition is relevant for understanding what the $600 million guidance includes and excludes.
Added in current filing · verify on EDGAR →
This outlook is based on the Company's current expectations and assumptions regarding consumer demand, supply chain conditions, cost initiative execution, store operations, and other operating factors
The company explicitly states that the guidance is based on current expectations and assumptions about multiple operational factors. The filing also notes that actual results may differ materially and that the company cannot reconcile forward-looking Adjusted EBITDA to GAAP net income without unreasonable effort due to unpredictable items.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
GameStop's leadership team remains focused on advancing the proposed acquisition of eBay, Inc. ("eBay"). Additional materials regarding the proposed transaction are forthcoming.
GameStop confirms it is actively pursuing the acquisition of eBay and indicates that further disclosure materials will be released. This represents a major strategic initiative that would dramatically expand GameStop's scale and business model.
Added in current filing · view on EDGAR →
On May 3, 2026, GameStop delivered to the board of directors of eBay a non-binding proposal to acquire all of the outstanding Common Stock that it does not already own at a price of $125 per share of Common Stock, to be paid in a combination of cash and GameStop common stock.
GameStop formally proposed on May 3, 2026 to acquire all eBay shares it doesn't own at $125 per share, using a mix of cash and GameStop stock. This non-binding offer establishes the initial valuation framework for what would be a transformational acquisition.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 29, 2026 · How we verify