TKO Group (TKO) investor relations material

Executive summary

• Q1 2026 revenue rose 26% year-over-year to $1.60 billion, driven by strong performance across UFC, WWE, and IMG segments.

• Adjusted EBITDA increased 32% to $550 million, with a margin of 34%.

• Net income attributable to shareholders increased to $249.8 million, with diluted EPS of $1.12, up from $0.69.

• Approximately $1 billion was returned to equity holders via share repurchases, dividends, and related distributions.

• Expansion into new markets, successful live events, and new media rights and partnerships drove performance.

Financial highlights

• Q1 2026 revenue was $1.597 billion, up $328.1 million year-over-year.

• Adjusted EBITDA reached $549.8 million, up from $417.4 million, with a 34% margin.

• Net income: $249.8 million, up from $165.5 million.

• Free cash flow was $674.5 million, with a 123% conversion rate of adjusted EBITDA.

• Cash and cash equivalents: $788.9 million; gross debt: $4.671 billion at quarter-end.

Outlook and guidance

• Full-year 2026 revenue guidance reaffirmed at $5.675–$5.775 billion; adjusted EBITDA at $2.24–$2.29 billion.

• Anticipated full-year revenue growth of 21%, adjusted EBITDA growth of 43%, and margin expansion to 39.6%.

• Q2 expected to be the highest revenue and EBITDA quarter, driven by major events and media rights step-ups.

• Management expects continued growth, supported by new media rights agreements and major live events.

• Liquidity is expected to be sufficient for at least the next 12 months, with strong cash flow and available credit.