Key Financial Highlights
- Revenue: $1.27 billion (9% YoY)
- Net Profit: $58.4 million (vs. a $234.5 million loss in Q1 2024, which had included the Cung Le lawsuit accrual)
- Free Cash Flow: $162.8 million (262%)
- Debt: $2.76 billion
- Market Cap: $13.8 billion (stock closed at $168.96 on May 8)
Segment Performance
WWE
- Revenue:$391.5 million (23.6%)
- Media rights & content: $251.6 million (boosted by Netflix, USA Network, CW deals)
- Live events & hospitality: $76.3 million (higher site fees, attendance, pricing)
- Sponsorships & marketing: $25.6 million (nearly doubled YoY)
- EBITDA: $193.9 million (38.3%)
UFC
- Revenue:$359.7 million (14.9%)
- Live gate & hospitality: $58.6 million (first Saudi Arabia event brought a reported $20 million site fee)
- Sponsorships & partnerships: $64.3 million (32%)
- Licensing: $12.7 million (14%)
- EBITDA: $227.4 million (16.6%)
Cost Synergies: Corporate expense trimmed by $38 million as overlapping WWE/UFC roles were consolidated.
Updated 2025 Outlook
- Core Revenue (UFC, WWE, PBR): $3.005 billion – $3.075 billion
- Company wide Revenue (incl. IMG, other assets): $4.49 billion – $4.56 billion
- Full year EBITDA: $1.49 billion – $1.53 billion
Management projects WWE will post its largest quarterly revenue ever in Q2 thanks to WrestleMania 41 and a spring Saudi premium live event.
Investor Call Highlights
- UFC Media Rights: COO Mark Shapiro said ESPN has been \"instrumental\" to UFC\'s growth; with the exclusivity window now open, TKO will explore other bidders while awaiting ESPN\'s forthcoming flagship streaming tier announcement.
- Boxing Expansion: A new, yet to be named boxing entity will stage 12 marquee shows annually for five years, featuring 1–4 \"superfights\" (e.g., Canelo Álvarez vs. Terence Crawford on Sept 12). Nick Khan and Dana White will promote, with Turki Alalshikh financing major bouts.
- Multi Brand Weekends: April\'s Kansas City triple header (PBR Fri, UFC Sat, WWE Sun) generated strong site fees and free media buzz; TKO plans more stacked weekends to maximize exposure and revenue.
Bottom Line
Cost synergies and richer WWE TV contracts flipped last year\'s first quarter loss into a solid profit for TKO. With record Q2 revenue on deck and fresh growth plays—including a boxing venture and pending UFC rights renewal—the company raised full year guidance and continues to build on its combat sports portfolio.
