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Dec 31, 2025
TKO Q4 2025 Earnings Report
TKO Q4 2025 Earnings Report
Key Takeaways
TKO delivered strong fourth-quarter results with revenue growth of 12% to $1.038 billion, driven by momentum in UFC and WWE. The company achieved a significant improvement in net income and free cash flow, while announcing a new $1 billion share repurchase program to launch in March 2026.
Revenue increased 12% year-over-year to $1.038 billion, led by contractual escalations in media rights for both UFC and WWE.
Net income improved to $0.8 million compared to a net loss of $60.9 million in the prior year period.
Free Cash Flow surged to $249.4 million, up from $28.5 million, due to improved operating performance and working capital timing.
The company announced a new capital return phase with plans to repurchase up to $1.0 billion in shares starting March 2026.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
TKO is targeting significant growth for the full year 2026, driven by full-year contributions from acquired businesses and new media deals.
Positive Outlook
- Full year 2026 revenue target of $5.675 billion to $5.775 billion.
- Full year 2026 Adjusted EBITDA target of $2.240 billion to $2.290 billion.
- Planned launch of $1.0 billion share repurchase program in March 2026.
- Long-term media rights agreements in place with Netflix and ESPN.
- Successful launch of Zuffa Boxing providing new long-term value avenues.
Challenges Ahead
- Potential impact of market conditions on the timing of share repurchases.
- Dependence on discretionary and corporate spending for live events.
- Highly competitive and fragmented market for content distribution.
- Substantial indebtedness of $3.783 billion gross debt.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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