Welcome back, what's up it's your boy, trey! I know i know it's been so long. That is the longest 30 minutes, probably of our lifetimes. To be frank, but uh we're back in it dude we got the gamestop earnings call on standby. Uh call should start at 4 p.m: central 5 p.m.

Eastern and uh we're gon na wait, we're gon na, wait it out and be ready to uh rock and roll i'm gon na be taking some notes along the way. I'm probably gon na have to repeat all this because there's not that many people in here yet so uh. It is what it is. It's good to see you bob, i'm not late.

I said 3 45., the riddler good to see you dude james brennan, r, a rewind snipes, brennan, sayajin, ape ryan biggs, dude dabs worth what's up baby good to see you guys good good morning. It starts in 14 minutes from what i'm understanding it's 5 p.m, eastern, which is in 14 minutes yeah. What's up buster bunny, it's good to see you what beautiful, elevator music? You really couldn't write this up much better. Do we have a flood warning right now? My screen says we have a flood warning all right, good to see you sniper right slide better.

How am i doing starlight, i'm chilling bro, i'm chilling it's a good day. It's a good day. We got a good stream in today. Uh talked about everything going on we're gon na listen to this earnings call and then hop on over to twitch uh afterwards, at about 6 p.m.

Central uh - and that would be a good time. I'm very excited should be fun nice job on the the board pod. Oh thanks man do you like that who in chat listen to the whiteboard pod that me and tmi put together? We got a little bit of time. We got a little bit of time.

Uh yeah that came out was that yesterday, already yeah time flies the whiteboard podcast. We talked about the american dream. I thought it was a pretty good episode. It wasn't bad.

We had some good conversation i'll show you quick. It's uh right here. That was our whiteboard pod special, not too shab we will have uh. I think it's a a webcast too, so i hope hopefully we'll be able to see some stuff gme up.

You mean gme up yeah, we're listening to the gamestop earnings, call yep! That's what the title is: tj vega life is good man. I'm hanging out i'm hanging out just uh, putting putting extra time in other places. You know uh, i don't sleep anymore. I wish i slept a little more part of that's on me uh, but it's nice to be able to focus on the things that i enjoy.

You know i like live streaming. I like looking at charts. I, like learning uh, i like being able to you, got a lot of a lot of time for that which is nice uh. I don't know life's good.

We out here chilling bro we're living our best life, oh, but the best part dude. This is the best part of my day. I didn't even tell you guys this. I didn't even tell you guys this get this get this right.

The internet guys stopped out today, and they fixed my internet this entire time, this entire time that my internet's been jacked up. You know what it was about: an inch long piece of metal that was fried on one end inch long piece of metal. That was fried, that was it. That was the whole problem with my internet.

I ran a speed test afterwards, significantly better significantly, so hopefully we run into less problems with uh with internet drops in the live stream drops and all that garbage, because that definitely got old at the sec. We try to protect pensioners by allowing hedge funds to use their retirement to make wild plays in the stock market. Jb, that's a very accurate statement. They should they should change their uh, their mission statement, huh ryan, cohen tweet.

What did he tweet this? This? Was it a reply? You know what i like about ryan cohen. Is he just looks like your average joe man? He looks like a guy that can put down a 24 pack in 24 hours. Honestly, i love it. That's pretty sick, yo nuggies thanks for the membership.

I appreciate that. Thank you. Thank you, uh. What do you guys think is uh.

What do you? What do you expect for this upcoming upcoming gamestop earnings? Call? We can see the stock price right now. Let me pull it up on trading view. I'll show you guys what the chart looks like in the after hours. You did get an immediate pump uh off of a beat.

I don't know if you guys caught this, but if you google, search gamestop earnings, you will find this beat revenue estimates on wider than expected loss, so they did have a wider than expected loss, but they did beat on revenue estimates uh, so tip for tat net Sales were 1.378 billion for the quarter compared to 1.277 billion in the prior years. First quarter. Sales attributable to new and expanded brand relationships contributed to the company's growth in the quarter, crazy cage and thanks for the membership man, uh inventory was 917 million at the close of the quarter compared to 570 uh end of the period with cash and cash equivalents of One billion dollars, as well as no debt, which is obviously a very big plus to gamestop uh, took steps to support the recent launch of a digital asset wallet to allow gamers and other stores to send, receive and use cryptocurrencies and non-fungible tokens across decentralized apps. This is probably what people are most excited about.

Is this piece right here, uh the digital asset wallet? A lot of people are very excited about the nft marketplace for gamestop uh and the ability that it has to sort of change the game for uh their transition away from just being a brick and mortar video game, location. Uh. I think it's a it's a fascinating concept. Now i've stated this very publicly and i won't shy away from my opinion.

I think that 95 percent tanner may thanks for the membership. I appreciate that. I think that 95 percent of nfts are scams uh. However, the opportunity for companies to utilize nfts, legitimate companies that cannot just scam, you uh, there's a lot of opportunity there.

I think you could do some pretty cool things as uh, gamestop or amc or this or that even even sports games right. You could attach an nft to like a super bowl. You could say i was there for the super bowl and the odds for the falcons versus the patriots. Was this and the falcons uh blew it right if you want to, if you want to have an nfc that commemorates that moment, whatever it may be, there's a lot of versatility for the good five percent.

The five percent of nfts that to me are are worthwhile. I think gamestop can capitalize on that. I think there's a lot of opportunity there. So a lot of people are excited rightfully so uh there's also uh questions about sort of the gamestop stock split.

A lot of people are curious on what that's going to look like that will exponentially. Uh decrease the cost of a gamestop share, and people think that it's going to have a positive effect on price action. Keep in mind when a stock split happens, that the free float on loan, which is how many shares are available to trade, does go up uh, so keep that in the back your mind when you wake up one day, and that is all done uh, that is Gon na be something that is uh in the works there. Why the towel on the stove mom's cutting up a pineapple, ah anime, says hi mom hi, so there you have it now we patiently wait.

We got about seven minutes before the earnings call starts. Uh dude eric moms are the best. It's awesome. Uh people always joke about living in your mom's basement, but my mom lives in my bedroom.

So uh we got ta. Have it reversed here that came out weird yeah, i sleep on the couch. I don't mind, though i haven't slept in my bed, for i don't know how long you've been here a month six weeks i don't know yeah a month and a half i've just been sleeping on the couch but uh life's good, it's good, but i have my Own bedroom, north carolina yep ill switch good to see you bro yeah you're, not getting the master, though that's mine, i don't know yeah. I just want the closet, not the bedroom.

That's fair, too bad. I'm gon na use that closet to throw all my junk in what are your thoughts about amy after today, uh sam? I don't. I think this is doing a disrespect to the gamestop earnings call to talk about amc during it. I'm gon na be honest, uh.

My thoughts on amy, i spoke on today during the live stream uh, which was there for about two hours uh. So, if you'd like to see my thoughts, i am live for two hours a day and that's sort of the window for it. I don't want to pull away from uh what this is really about, which is gamestop right um, and that's that you know i. I personally believe i've showed the trend before that that amc kind of respects, along with gamestop the same back and forth sort of trend, bouncing on a falling level of support following level of resistance and that it will eventually uh tap the resistance line.

That's what we're waiting on you have to mute. I have to mute the music. I didn't know that wait. Can you guys not hear me is: oh, okay, are you transforming into a leprechaun hey, tell me if you like, the beard is the beard of vibe, for the only thing that makes me mad is my right side right here.

This doesn't fill in as nice. As my left side does left side, it fills in all the way, but i got this stupid-ass little one tiny, bald spot on the right side of my beard, but i told him we can wax the ones inside and make them even no, no you're. Just putting that up to get me out of the picture, i am, i know i've been blocked, i'm not waxing my beard. Are you crazy? If you reload, it is muted.

Let me check now you got me stressing checking nah, it's fine. What are you talking about? We're chilling we're square. I have waxed on stream before my leg is still bald still got that stupid, reverse landing strip looks so dumb yeah the sec. Video is pretty dog, pretty awful, not great, not great.

Have i played the resident evil that came out last year. I have not no honestly, i i probably should, but tonight is uh we're going to do a a discord call in roast night on twitch. So that's kind of the idea there i think that'll be fun. I like being able to laugh at myself.

It's a good time: it's not bad amish, vibe nah! It's just cause. My mustache got shaved when it grows back. I won't look so dumb, all right, good, stuff, daniel no way they would copyright elevator, music dude youtube would not do that. How could they copyright, elevator, music yeah? I heard that johnny depp one.

You want me to lick my lips repeatedly all right here we go no pit crew, i'm not gon na wax. My beard. Are you insane? You do it. I told you.

It was a good idea. You sent me a video of you waxing your beard and i'll wax mine. You masochist who's behind me, ken griffin, it's your mom, it's your mom, ken griffin she's in my dms, great guess. What's going to happen now, i want to talk about that wax my cooch pass.

I don't know how i don't know how people do that. That's that's unfathomable! To me. I waxed my leg and that was so painful we're about to start one minute. Once i start hearing sound, we'll uh i'll shut up and we'll listen to uh the call dude pastor bye-bye, my hair did grow back pretty fast.

It was super quick i feel like. I was bob like two months ago. You hang with astro one time and now you're vaping nah tauren i've been vaping for since i gave up chewing. I gave up chewing in march of 2021 and i picked up vaping in about may so about two months after that.

Ah, i just i just haven't done on live streams, that's all yep and we should be starting up yeah. I did see that uh that that lisa tweeted - that, i sure did i replied to it. Actually i replied to that tweet yeah. It was good, amber tweet.

No did amber tweet; no, she didn't no! No! No! No! No! No! No! Already stop stop! She got rashy out on clue, tweets dude! Oh my god! That is a work of art. If you have more quote tweets than likes, that means you done up. I don't think i've ever seen that ever that's insane dude, that's not wow man, i don't i'm just being honest with you. Okay, listen, listen amber heard was caught lying caught, committing perjury caught forging a story.

I i'm on the side of honesty right and the truth of the matter. Here is: if you took 15 minutes to watch this case, it is very easy to determine uh who you believe is being truthful. I think it's that simple. I i feel no sympathy for amber heard, none, i'm still waiting for the call, i'm listening to background music.

It's this elevator music, hopefully not too much longer. We smoke an amber pack yeah. I saw that about 50 times now. Already thanks, though, all right here we go greetings and welcome to the gamestop first quarter.

2022 earnings call at this time all participants are in a listen only mode. A brief question and answer session will follow the formal presentation correction. There will not be a question and answer session following the formal presentation. Anyone should require operator assistance during the conference.

Please press star zero on your telephone keypad. It is now my pleasure to introduce your host matt furlong ceo. Thank you matt. You may begin.

Thank you and good afternoon. We appreciate all of our stockholders continued passion and support. The enthusiasm remains a differentiator and an extra motivator for all of us at gamestop. We don't take it for granted and never will before going over this past quarter's initiatives and results.

I also want to once again thank our team for continuing to bring strong focus and intensity to our mission. Change is continuing to be embraced across our stores, fulfillment centers and offices. A constant emphasis on the customer is taking hold up and down the organization. This will remain key as we pursue sustained sales growth, establish broader offerings in consumer electronics and launch new products aligned to the long-term future of gaming.

During q1, we specifically focused on continuing to rebuild and strengthen our commerce business after years of under investment and pursuing growth opportunities in the cryptocurrency nft and web 3 gaming verticals, all of which we expect to be increasingly relevant for gamers of the future. With respect to our commerce business, we kept working to pragmatically, expand product selection, improve delivery, speeds and strengthen the in-store and online shopping experience. We also made additional investments in our assortment infrastructure, technology and talent. Our sizable q1 investments should help us round out our rebuild cycle with regard to new offerings geared to the future of gaming.

Our blockchain team continue to drive progress when it comes to advancing new products, deepening partnerships and establishing gamestop's presence in digital asset communities. An output of these efforts was last month's launch of the gamestop wallet, a digital asset wallet that allows gamers and others to store, send, receive and use cryptocurrencies and nfts across decentralized apps. The wallet which has significant downloads and a five-star rating in the chrome store will enable transactions on our new nft marketplace when it launches in the second quarter. We firmly believe that digital assets are core to the future of gaming.

Taken together, we believe these investments and initiatives prioritized over the past quarter are positioning us to become a more diversified and technology-centric business. Let me now turn to our financial results. For q1 net sales increased eight percent to just under 1.4 billion dollars compared to approximately 1.3 billion dollars during the same period in 2021. As indicated in the past long-term revenue, growth is a primary metric, by which we believe stockholders should assess our execution.

Sg a was 452.2 million dollars or 32.8 percent of sales compared to 370.3 million dollars or 29 of sales. In last year's, first quarter we reported a net loss of 157.9 million dollars or two dollars. Eight cents per diluted share compared to a net loss of 66.8 million dollars or loss per diluted share of one dollar one cent in the prior year's first quarter, there were no major one-time transformation, transaction or related costs during the period. Turning to the balance sheet, we ended the quarter with cash and cash equivalents of 1.04 billion dollars, roughly 340 million dollars higher than the end of the first quarter.

Last year. We continue to maintain a sizable cash position, even while investing in inventory to improve in stock levels meet heightened customer demand and mitigate the full impact of global supply chain issues. At the end of the quarter, we had no borrowings under our abl facility and no debt. Other than a low interest, unsecured term loan associated with the french government's response to covet 19.

total liabilities compared to the first quarter of last year, were down 8.4 million dollars. Capital expenditures for the quarter were 10.8 million dollars down 3.9 million dollars from last year's. First quarter, we anticipate capex will continue to remain at modest levels as we make pragmatic investments in our infrastructure and tech. In the first quarter, cash flow from operations was an outflow of 303.9 million dollars compared to an outflow of 18.8 million dollars during the same period.

Last year, this does not include the impact of an additional 76.9 million dollars received in proceeds from digital asset sales, which is included in investing activities in order to meet customer demand and drive sales growth. Amidst the tight supply chain, we maintained inventory valued at 917.6 million dollars as of the close of the quarter compared to 570.9 million dollars at the close of the prior years. First quarter in terms of our outlook, we're not providing formal guidance at this time. I want to conclude by touching on the past year and our path forward in 2022, we set out 12 months ago to accomplish something unprecedented in our industry: transform a decaying, brick and mortar retailer into a technology-led organization that meets customers needs through stores through e-commerce properties And through emerging digital marketplaces and online communities, our growth and the launch of new tech products, such as our digital asset wallet and the upcoming nft marketplace, demonstrate that we are in fact starting to transform in the quarters and years ahead, we're going to continue embracing change.

Putting the customer first and focusing on long-term stockholder value i'll leave it there for this quarter. As always, our board and management appreciate the enthusiasm and support from those who matter most our customers, employees and, of course, gamestop's stockholders. Thank you. This concludes today's conference.

You may disconnect your lines at this time. Thank you for your participation. What what the was that no way? Bruh okay hold on? Let's go over what they talked about right i i was trying to take notes on things. A lot of this, i got to be honest.

A lot of this information, though, is already public. You got the q, the the q1 gme earnings call. There are two main goals from what i was gathering was to rebuild commerce, which is an area in which they had uh not invested enough in the previous couple of quarters in a couple of years. Second was the growing web 3 crypto and nfts.

You can think of this, as essentially the nft marketplace, and the gamestop wallet got a five-star rating, which is cool, uh they're, trying to have this be available for crypto and nft transactions, which they think is the future of gaming uh, which i'd also agree with. I think this is gon na be a big part of gaming down the road they went over. The numbers numbers are already out in public articles, but i don't feel like this is. This is the part where i'm actually genuinely surprised is.

There is no outlook, no formal guidance, what the heck i'm actually really surprised. I'm like genuinely surprised. I thought that you were gon na get more out of this uh out of this earnings. Call now i'll tell you i'll tell you this.

I haven't tuned into every single gamestop earnings, call i'll admit that right off the bat right uh, but this just felt pretty short, i don't know, i don't feel like. I don't feel like it really had any forward. Looking isn't that the point of an earnings call like i feel like when i sit down for earnings call, i want to know what the company is sort of thinking about moving forward and what their game plans are uh moving forward normal. Is that usually how they they rock and roll interesting? I mean it was short.

It was short uh overall i mean, like i talked about before. Gamestop was a beat on revenue, estimates uh. So it's positive right. They have a decent amount of cash on hand.

You can look at that i'll bring that back up. I can show you guys uh once again what that looked like. Let me just go back to the home page. Gme q1 call pull this up.

Cash on hand is 1.04 billion, which is up 340 million dollars year over year, net loss 2.8 cents per diluted. Share liabilities is down so they're, decreasing their uh their liabilities, which is good inventory of 970 million dollars. Net sales is up eight percent year over year. Growth growth is good, uh, that's what you got.

The only thing that i would have i would have asked for is uh forward-looking. You know i'd like to know how things are sort of progressing towards what their vision is with uh the gamestop marketplace in the nft marketplace in the gamestop wallet. You know that's about it. That was just very brief.

That was very brief. I don't think it's the end of the world right. It's an earnings, call uh. It doesn't change how the company's sitting right now, it's uh all the numbers are still the same, regardless of how they sort of digest them, and you know they're still making progress.

So nah nah nah nah nah nah thor thor bladed. Let's not make it about that right. That's, let's really not make it about that see. This is this is a true thing all right.

I think we got to talk about this right here right now. There are people who believe in gamestop that don't believe in amc. There are people that believe in amc but don't believe in gamestop and if you believe that that's okay - that's your that's your opinion, but let's just not try and shove that opinion down other people's throats. You know please uh, it does nothing.

The only thing that happens when you tell somebody what to believe is they never want to believe it when you sit there and you preach and you preach and you preach and you preach and and you're telling people hey you for thinking this, you need to think This you're not accomplishing anything. You know, i think, that's very important. That's a that's an important differential! I appreciate appreciate the note, but i i don't i disagree with that opinion. Thor blade annual meeting tomorrow there we go 100 typical earnings call, they never share guidance and it's boring, but it's normal.

There we go there. You go twitchy, yep yep, that's that's just drastically different. I suppose that's that's different than uh than what i was expecting. That's all not bad different, you know huh there you have it.

That was the earnings call. I thought that was gon na go longer, gorilla's in the chat. If you thought that was gon na be longer, i'm surprised, uh, no k k. I was uh.

I was live from one to three, i'm gon na be over on twitch. Later thanks edwin, i appreciate that bro uh. Alright, i'm guessing there's some people who hopped in chat that are just trying to make the experience something. That's all all right.

Well, i guess that's that if you uh, if you enjoyed the earnings, call feel free to drop a like on the live stream. Uh. I'd appreciate that uh, i suppose that's that yeah, i'm gon na be on twitch twitch.tv, slash, anti-juicer, there's a link in the description box down below. I am actually going to leave.

The earnings call live. So if you want to go back and listen to it, you can uh. You can feel free to take notes on your own uh and it'll be available for you, so that that's a that's an optionality. If you'd like it, it's there, if not that's cool too uh i'll, be live in about an hour and 45 minutes over on twitch, if you'd like to hang out feel free to do so, like i said, link is in the description box down below uh.

That's what i got for you so appreciate you guys, tuning in annual meeting tomorrow, catch y'all later appreciate. You watch the lovely taps, peace.