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TKO
FY2026 Q1
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Отчётный звонок TKO Group Holdings, Inc.
Вывод Buzzberg
Reaffirms full-year guidance with 43% EBITDA growth
TKO Group reported a strong Q1 2026 with revenue and EBITDA growth of 26% and 32% respectively, driven by new media rights deals with Paramount and ESPN, robust live event demand, and strong performance in its IMG segment. Management reaffirmed its full-year guidance for significant revenue and EBITDA growth, while addressing investor concerns about creative and ticket pricing. The call highlighted progress in new properties like Zufa Boxing and the expansion of PBR, alongside a continued aggressive capital return program. Reaffirmed FY2026 guidance: revenue $5.675-5.775B and adjusted EBITDA $2.24-2.29B, implying ~43% EBITDA growth.
Вывод Buzzberg Reaffirms full-year guidance with 43% EBITDA growth TKO Group reported a strong Q1 2026 with revenue and EBITDA growth of 26% and 32% respectively, driven by new media rights deals with Paramount and ESPN, robust live event demand, and strong performance in its IMG segment. Management reaffirmed its full-year guidance for significant revenue and EBITDA growth, while addressing investor concerns about creative and ticket pricing. The call highlighted progress in new properties like Zufa Boxing and the expansion of PBR, alongside a continued aggressive capital return program. Reaffirmed FY2026 guidance: revenue $5.675-5.775B and adjusted EBITDA $2.24-2.29B, implying ~43% EBITDA growth. Читать полный анализСвернуть анализ
TKO Group reported a strong Q1 2026 with revenue and EBITDA growth of 26% and 32% respectively, driven by new media rights deals with Paramount and ESPN, robust live event demand, and strong performance in its IMG segment. Management reaffirmed its full-year guidance for significant revenue and EBITDA growth, while addressing investor concerns about creative and ticket pricing. The call highlighted progress in new properties like Zufa Boxing and the expansion of PBR, alongside a continued aggressive capital return program. Reaffirmed FY2026 guidance: revenue $5.675-5.775B and adjusted EBITDA $2.24-2.29B, implying ~43% EBITDA growth.
- New media rights deals are delivering: UFC's Paramount+ debut and CBS simulcast broke viewership records, signaling strong sampling.
- Despite geopolitical tensions, management confirmed scheduled events in the Middle East are proceeding, with partners' commitment 'unwavering'.
- Live events demand remains robust, with sellouts across UFC and WWE and record gates at multiple venues.
Выручка$1.5969B+54% к/к
EPS$1.12Факт
Валовая маржа54.01%Факт
Операционная маржа21.2%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Buybacks
Plans to continue share repurchases with new $1B authorization
Demand
Middle East events proceeding despite geopolitical tensions
Показать ещё 3 тезиса
Media Rights
UFC Paramount+ deal driving record viewership and engagement
Fan Sentiment
WWE fan criticism not a concern; creative and monetization balanced
Growth
Zufa Boxing exceeding growth expectations with new deals
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $1.5969B | +54% к/к |
| EPS | $1.12 | Факт |
| Валовая маржа | 54.01% | Факт |
| Операционная маржа | 21.2% | Факт |
| Свободный денежный поток | $0.6746B | Факт |
| Капзатраты | $0.02B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Свободный денежный поток | FY2026 | 60% | 60% | Обозначен |
| Операционная маржа | FY2026 | 39.6% | 39.6% | Подтверждён |
| Выручка | FY2026 | $5.675B–$5.775B | $5.725B | Подтверждён |
AI, капзатраты и спрос
Оценка менеджмента
Confident
Management repeatedly highlighted strong execution, reaffirmed guidance, and emphasized robust demand across live events and media rights, projecting 43% EBITDA growth for the year.
Оценка AI от менеджмента
Management stated that as AI transforms content creation and consumption, the value of their IP and properties increases, emphasizing that their live, communal, and scarce content cannot be replicated by algorithms.
все упомянутые компании ниже: 9
Компаниис момента звонка
Клиенты
Клиенты
Mark Shapiro
The multi-year media rights deal with Sky Sports for Zufa Boxing secures distribution in key UK markets, accelerating the growth of a major new property.
Доказательства
“we've secured a multi-year deal with Sky Sports for the UK and Ireland, two of the most pivotal and important boxing markets in the world.”
Клиенты
Mark Shapiro
IMG's significant production and integration contract with Apple for F1 broadcasting lays the groundwork for a potentially major long-term partnership and showcases IMG's technical expertise.
Доказательства
“At IMG, we are powering Apple's debut season as the U.S. broadcaster of Formula One, integrating every feed to their platform and producing content from our Stockley Park headquarters in the U.K.”
Партнёры
Партнёры
Mark Shapiro
Netflix's deal to license the WWE archive signals strong early engagement with WWE's premium content and indicates the streaming platform's commitment to expanding its sports-adjacent library.
Доказательства
“Early in Q1, Netflix became the official U.S. home of WWE's archive, which comprises decades of WrestleMania, SummerSlam, and Royal Rumble content. Netflix confirmed this deal actually in direct response to early success they've had with”
Партнёры
Mark Shapiro
A new long-term partnership with World Rugby is a strategic win for IMG, positioning it for major hosting and media rights work ahead of two Rugby World Cup cycles in North America.
Доказательства
“We have also agreed to a long-term strategic partnership with World Rugby ahead of the 2031 and 2033 Rugby World Cups in North America.”
Партнёры
Mark Shapiro
High-profile sponsors like Ram and Crypto.com are paying a premium to associate with the UFC's unique White House event, a signal that innovative live events can command significant marketing dollars.
Доказательства
“Ram Trucks and Crypto.com are signed as co-presenting partners of Freedom 250, and the limited marketing inventory available for this singular event is now sold out.”
Партнёры
Mark Shapiro
CBS simulcast of UFC 326 was the most-watched live UFC event since 2016, and the CBS audience alone was over 270% above last year's average, demonstrating the massive sampling power of widely available linear broadcasting. — This validates the strategy of using broad linear reach to acquire new combat sports fans, potentially augmenting the value of future rights negotiations and brand partnerships.
Доказательства
“UFC's Paramount Plus debut on January 24th set the bar, reaching more homes than any UFC event in nearly a decade. but it was our numbered event in March that showed the real power and potential of this partnership. Our first CBS”
Партнёры
Mark Shapiro
Management is enthusiastic about and anticipating the Warner Bros. Discovery-Paramount merger, seeing it as a major opportunity to increase distribution for UFC and other properties across WBD's combined platforms.
Доказательства
“the idea of all of these assets, platforms, and reach devices, being in the hands of David Ellison and his team, just given what we've seen already from this partnership, we are ecstatic and, frankly, anxious for them to close this deal”
Цепочка поставок
Цепочка поставок
TKO's financials no longer reflect corporate expense allocations from Endeavor, and they are incurring costs to replicate those services internally, marking a structural transition in the relationship.
Andrew SchweimerВнешние сигналы
Альфа цепочки поставок · 4с момента звонка
Reiterated that UFC Freedom 250 at the White House is expected to generate a $30 million loss, despite costs rising for an expanded card and festivalization, indicating a strategic investment in brand and sampling over near-term profit.
CBS simulcast of UFC 326 was the most-watched live UFC event since 2016, and the CBS audience alone was over 270% above last year's average, demonstrating the massive sampling power of widely available linear broadcasting.
PBR Team Series expansion franchise fees are expected to fetch 'multiples' of the $22 million charged in the first expansion in 2024, showing massive value creation in the league.
The financial incentive package (FIP) for the Baku, Azerbaijan event is part of a multi-year renewal at a higher per-event fee than realized in 2025, indicating pricing power for premium global live events.
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 9. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.