Tko Group Holdings, Inc. · NYSE:TKO
Tko — Q2 2026 Earnings Presentation
16 slides from Tko's earnings presentation, Aug 3, 2026
Slide 1: TKO Reports Second Quarter 2026 Results
FOR IMMEDIATE RELEASE Contacts: Investors: Seth Zaslow szaslow@tkogrp.com Media: press@tkogrp.com TKO Reports Second Quarter 2026 Results Raises Full Year 2026 Guidance Announces Intent to Commence Additional Share Repurchases Second Quarter 2026 Financial Highlights • Revenue of $1.547 billion • Ne
Slide 2: Consolidated Results
Consolidated Results2 Second Quarter 2026 Revenue increased 18%, or $238.7 million, to $1.547 billion. The increase primarily reflected an increase of $119.8 million at UFC, to $535.7 million, an increase of $64.7 million at WWE, to $620.9 million, and an increase of $48.1 million at the IMG segment
Slide 3: Results by Operating Segment
Results by Operating Segment4 The table below reflects TKO’s performance by operating segment: Three Months Ended Six Months Ended (in millions) June 30, June 30, 2026 2025 2026 2025 Revenue: UFC $ 535.7 $ 415.9 $ 936.9 $ 775.6 WWE 620.9 556.2 1,096.6 947.7 IMG 354.7 306.6 1,010.1 782.9 Total revenu
Slide 4: UFC
of ticket sales for UFC Freedom 250 and one fewer Numbered Event, partially offset by higher financial incentive package revenue, compared to the prior year period. Adjusted EBITDA increased 15%, or $35.6 million, to $280.4 million, due to the increase in revenue (as described above) partially offse
Slide 5: WWE
administrative expenses increased primarily due to higher travel costs, related to an increase in the number of international events, compared to the prior year period. Adjusted EBITDA margin was 59% for both periods. IMG The IMG segment reflects the operations of the IMG business and On Location. T
Slide 6: Corporate and Other
Three Months Ended Six Months Ended (in millions) June 30, June 30, 2026 2025 2026 2025 Corporate and Other Revenue: Media rights, production and content $ 3.7 $ 4.7 $ 12.6 $ 8.0 Live events and hospitality 19.8 18.4 52.8 51.8 Partnerships and marketing 12.3 11.7 28.6 23.8 Consumer products licensin
Slide 7: Share Repurchases and Dividend
As previously disclosed, on June 30, 2026, the Company announced the completion of its accelerated share repurchase agreement (the “ASR Agreement”) to repurchase $800 million, or 4,167,298 shares, of its outstanding Class A common stock. As previously disclosed, on May 11, 2026, the Company entered
Slide 8: Non-GAAP Financial Measures
Non-GAAP Financial Measures The Company refers to certain financial measures that are not recognized under United States generally accepted accounting principles (“GAAP”). This press release includes financial measures that are not calculated in accordance with GAAP, including Adjusted EBITDA, Adjus
Slide 9: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA margin should not be considered substitutes for the reported results prepared in accordance with GAAP and should not be considered in isolation or as alternatives to net income as indicators of TKO’s financial performance, as measures of discretionary cash availab
Slide 10: Corporate and Other Revenue
million for the six months ended June 30, 2025 representing allocations from January 1 through February 28, 2025. Under TKO ownership effective February 28, 2025, such corporate allocations no longer occur. Effective February 28, 2025, the Company operates its business under three reportable segment
Slide 11: Website Disclosure
Website Disclosure Investors and others should note that TKO announces material financial and operational information to its investors using press releases, SEC filings and public conference calls and webcasts, as well as its Investor Relations site at investor.tkogrp.com. TKO may also use its websi
Slide 12: Consolidated Income Statements
TKO Group Holdings, Inc. Consolidated Income Statements (In millions, except share and per share data) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Revenue $ 1,547.1 $ 1,308.4 $ 3,144.0 $ 2,577.2 Operating expenses: Direct operating costs 556.1 476.4 1,290.5
Slide 13: Consolidated Balance Sheets
TKO Group Holdings, Inc. Consolidated Balance Sheets (In millions) (Unaudited) As of June 30, December 31, 2026 2025 Assets Current assets: Cash and cash equivalents $ 592.5 $ 831.1 Restricted cash 959.7 354.9 Accounts receivable, net 1,059.9 558.3 Deferred costs 133.0 234.8 Other current assets 465
Slide 14: Consolidated Statements of Cash Flows
TKO Group Holdings, Inc. Consolidated Statements of Cash Flows (In millions) (Unaudited) Six Months Ended June 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 553.7 $ 438.6 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortizatio
Slide 15: Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin
TKO Group Holdings, Inc. Reconciliation of Adjusted EBITDA and Adjusted EBITDA Margin (In millions, except percentages) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net income $ 303.9 $ 273.1 $ 553.7 $ 438.6 Provision for income taxes 53.2 46.5 87.2 67.7 Inte
Slide 16: Reconciliation of Free Cash Flow
TKO Group Holdings, Inc. Reconciliation of Free Cash Flow (In millions) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net cash provided by operating activities (1) $ 374.0 $ 396.2 $ 1,068.5 $ 559.0 Less cash used for capital expenditures: Purchases of property