TKO Group Holdings (TKO) Company Report

TKO Group Holdings reported Q3 2025 revenue of $1.12 billion, a 27% decline year-over-year, primarily due to a 59% drop in IMG revenue (absence of 2024 Paris Olympics) and an 8% fall in UFC revenue (fewer events), while WWE revenue increased by 23% to $402 million.
Despite the overall revenue decline, net income significantly rose to $106.8 million (from $3.4 million in Q3 2024) and Adjusted EBITDA reached $360.2 million, driven by cost reductions and operational efficiencies.
The company raised its full-year 2025 revenue guidance to $4.69-$4.72 billion and Adjusted EBITDA guidance to $1.57-$1.58 billion, buoyed by new multi-year media rights deals for UFC and WWE.
TKO generated $398.9 million in free cash flow for the quarter and is continuing its capital return program, including raising its dividend (most recently $0.76 per share) and share repurchases.

Nov 6, 2025, 10:14 AM

Morningstar

TKO Reports Strong Q3 2025 Results, Raises Full-Year Guidance, and Announces Key Strategic Initiatives

TKO

Earnings

Guidance Update

Share Buyback

TKO reported strong Q3 2025 results, with live events and hospitality revenue increasing 61% to $83 million, media rights production and content revenue up 9% to $249 million, and partnerships and marketing revenue growing 84% to $40 million.
The company secured landmark media rights deals, including a seven-year, $7.7 billion agreement for UFC with Paramount Global starting in 2026, and a five-year premium live events partnership for WWE with ESPN.
TKO doubled its quarterly cash dividend and launched a $1 billion stock buyback program, including an $800 million ASR agreement.
Full-year 2025 guidance was raised for the third consecutive quarter, with targeted revenue of $4.69 billion-$4.72 billion and Adjusted EBITDA of $1.57 billion-$1.58 billion.
Looking ahead to 2026, the company anticipates a significant step-up in financials from new media rights deals, an increase to three WWE PLEs in Saudi Arabia, and aims for $1 billion in total company partnership revenue by around 2030.

Nov 5, 2025, 10:00 PM

Transcript

TKO Reports Strong Q3 2025 Results, Raises Full-Year Guidance, and Expands Capital Returns

TKO

Earnings

Guidance Update

Share Buyback

TKO generated $1.12 billion in revenue and $360 million in Adjusted EBITDA for Q3 2025, achieving an Adjusted EBITDA margin of 32%.
The company raised its full-year 2025 guidance for the third consecutive quarter, now targeting revenue between $4.69 billion and $4.72 billion and Adjusted EBITDA between $1.57 billion and $1.58 billion.
TKO announced a doubling of its quarterly cash dividend and launched a $1 billion stock buyback program, which includes an $800 million ASR agreement and a $174 million 10b5-1 trading plan.
Landmark media rights deals were secured, including a seven-year, $7.7 billion agreement for UFC with Paramount Global starting in 2026, and a five-year premium live events partnership for WWE with ESPN. Additionally, Zuffa Boxing announced a media rights agreement with Paramount for the US, Canada, and Latin America, with its official launch in 2026.

Nov 5, 2025, 10:00 PM

Transcript

TKO Group Holdings Inc. Reports Q3 2025 Results and Raises Full-Year Guidance

TKO

Earnings

Guidance Update

Revenue Acceleration/Inflection

TKO Group Holdings Inc. reported Q3 2025 revenue of $1.12 billion and Adjusted EBITDA of $360 million.
The company raised its full-year 2025 guidance for revenue to $4.69 billion-$4.72 billion and Adjusted EBITDA to $1.57 billion-$1.58 billion.
TKO secured significant media rights agreements, including a seven-year, $7.7 billion UFC deal with Paramount Global starting in 2026, and a five-year WWE premium live events partnership with ESPN.
In Q3 2025, TKO doubled its quarterly cash dividend and launched a $1 billion stock buyback program, including an ASR agreement for $800 million.
The company anticipates future growth from these new media rights deals, an increase to three WWE PLEs in Saudi Arabia in 2026 (compared to one in 2025), and aims for $1 billion in total company partnership revenue by around 2030.

Nov 5, 2025, 10:00 PM

Transcript

TKO Reports Q3 2025 Results, Raises Full Year Guidance, and Announces Capital Return

TKO

Earnings

Guidance Update

Share Buyback

TKO Group Holdings, Inc. reported Q3 2025 revenue of $1.120 billion, net income of $106.8 million, and Adjusted EBITDA of $360.2 million.
The company raised its full-year 2025 guidance, projecting revenue between $4.690 billion and $4.720 billion and Adjusted EBITDA between $1.570 billion and $1.580 billion.
Significant media rights agreements were announced, including a seven-year deal with Paramount for UFC (average annual value of $1.1 billion starting 2026) and a five-year deal with ESPN for WWE PLEs (average annual value of $325 million starting September 2025).
TKO initiated a return of capital program, including an $800 million accelerated share repurchase agreement and a 100% increase to its quarterly cash dividend program, with a payment of approximately $150 million, or $0.76 per share, on September 30, 2025.

Nov 5, 2025, 9:11 PM

8-K

TKO Group Holdings Announces $1 Billion Share Repurchase Program

TKO

Share Buyback

Debt Issuance

Dividends

TKO Group Holdings has announced a $1 billion share repurchase plan, which is being funded through a $1 billion first lien term loan that closed on September 15, 2025.
The plan includes an $800 million accelerated share repurchase (ASR) agreement, with an initial delivery of approximately 3.2 million shares and expected completion by December 2025.
Following the ASR, TKO will repurchase up to $174 million in shares under a 10b5-1 trading plan, and it recently completed a $26 million privately negotiated share buyback on September 5, 2025.
Mark Shapiro, TKO's President and COO, stated that these repurchases, combined with a 100% increase to the quarterly cash dividend program, demonstrate the company's commitment to delivering long-term shareholder value.

Sep 15, 2025, 11:24 AM

Morningstar

TKO Group Holdings Announces $1 Billion Share Repurchase

TKO

Share Buyback

Debt Issuance

Dividends

TKO Group Holdings, Inc. announced $1 billion in share repurchases, consisting of an $800 million accelerated share repurchase (ASR) agreement, a 10b5-1 trading plan for up to $174 million, and a $26 million privately negotiated transaction completed on September 5, 2025.
These repurchases are being conducted under TKO's previously announced $2.0 billion share repurchase authorization.
The company intends to fund these share repurchases with proceeds from a $1.0 billion first lien term loan borrowing that closed on September 15, 2025.
Under the ASR Agreement, TKO will pay $800 million on September 16, 2025, and expects an initial delivery of 3,161,430 shares of Class A common stock, with transactions expected to be completed in December 2025.
After these planned repurchases, $1.0 billion will remain available under the Share Repurchase Program, which TKO expects to complete within approximately three to four years.

Sep 15, 2025, 11:23 AM

8-K

TKO Group Holdings Announces 100% Dividend Increase and Share Repurchase Program

TKO

Dividends

Share Buyback

Debt Issuance

TKO Group Holdings announced a 100% increase to its quarterly cash dividend program, resulting in an aggregate distribution of approximately $150 million.
The new dividend is $0.76 per share, payable on September 30, 2025, to stockholders of record as of September 15, 2025.
The company also expects to commence a share repurchase program within the third quarter.
TKO has launched a potential upsize of its existing credit facility by up to $1.0 billion.

Sep 3, 2025, 11:00 AM

Press Release

TKO Group Holdings Inc. Reports Strong Q2 2025 Results and Raises Full-Year Guidance

TKO

Earnings

Guidance Update

Share Buyback

TKO reported strong Q2 2025 financial results, with consolidated revenue increasing 10% to $1.308 billion and adjusted EBITDA increasing 75% to $526 million.
The company raised its full-year 2025 guidance, now targeting revenue of $4.63 billion to $4.69 billion and adjusted EBITDA of $1.54 billion to $1.56 billion, reflecting strong operating performance.
TKO announced a five-year domestic media rights deal with ESPN for WWE's premium live events, valued at $1.625 billion over the term, or $325 million AAV, a significant step up from the prior deal.
Both the UFC and WWE segments delivered record quarterly revenue and adjusted EBITDA, with WWE's adjusted EBITDA margin reaching 59%. The company also achieved its 2025 target of $15 million in-year savings from integration efforts.
TKO expects to commence its $2 billion share repurchase program in 2025.

Aug 7, 2025, 1:15 AM

Tikehau Capital Raises €1 Billion for Egis Growth

TKO

New Projects/Investments

M&A

Revenue Acceleration/Inflection

Tikehau Capital has raised €1 billion for its portfolio company Egis through its first private equity continuation fund.
The investment is backed by Tikehau Capital’s second vintage private equity decarbonisation strategy and includes co-lead investors Apollo S3 / ADIA and Neuberger Berman.
This funding aims to support Egis's growth trajectory, including strategic acquisitions, with a goal to double its size by 2028 and build on its €2.2 billion revenue in 2024.

Jul 7, 2025, 6:28 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for TKO Group Holdings.

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