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Jun 30
TKO Q2 2025 Earnings Report
TKO delivered record second-quarter results
Key Takeaways
TKO reported Q2 2025 revenue of $1.308 billion, net income of $273.1 million, and record adjusted EBITDA of $526.5 million, generating free cash flow of $374.9 million and raising full-year 2025 guidance :contentReference[oaicite:0]{index=0}.
Revenue of $1.308 billion, up 10% year-over-year :contentReference[oaicite:1]{index=1}
Net income of $273.1 million versus $46.2 million in Q2 2024 :contentReference[oaicite:2]{index=2}
Adjusted EBITDA of $526.5 million, a 75% increase, with a 40% margin :contentReference[oaicite:3]{index=3}
Free cash flow of $374.9 million, up $94.6 million, and operating cash flow of $396.2 million :contentReference[oaicite:4]{index=4}
TKO
TKO
TKO Revenue by Segment
TKO Revenue by Geographic Location
Revenue by Segment
UFC Revenue
CapyFin.comWWE Revenue
CapyFin.comIMG Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.comRevenue by Geographic Location
Global Revenue
CapyFin.com Forward Guidance
TKO raised its full-year 2025 revenue guidance to $4.630–$4.690 billion and Adjusted EBITDA guidance to $1.540–$1.560 billion :contentReference[oaicite:5]{index=5}.
Positive Outlook
- Full-year 2025 revenue guidance raised to $4.630–$4.690 billion :contentReference[oaicite:6]{index=6}
- Full-year 2025 Adjusted EBITDA guidance raised to $1.540–$1.560 billion :contentReference[oaicite:7]{index=7}
- Guidance includes expected contributions from the IMG, On Location and PBR acquisitions :contentReference[oaicite:8]{index=8}
- Continued integration of Acquired Businesses under common control :contentReference[oaicite:9]{index=9}
- Strong free cash flow supports capital return initiatives :contentReference[oaicite:10]{index=10}
Challenges Ahead
- Guidance subject to integration risks of the Acquired Businesses :contentReference[oaicite:11]{index=11}
- Potential volatility in live events attendance and consumer spending :contentReference[oaicite:12]{index=12}
- Dependence on key distribution partnerships and media rights agreements :contentReference[oaicite:13]{index=13}
- Exposure to macroeconomic and geopolitical uncertainties :contentReference[oaicite:14]{index=14}
- Forward-looking statements subject to litigation and regulatory risks :contentReference[oaicite:15]{index=15}