Jun 2026 (Q2 FY26) — Aug 3, 2026
TKO Group Holdings Q2 FY26 — Raised Full-Year Guidance Driven by Strong Performance Across Businesses
Read the full callTKO Group Holdings (TKO) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
TKO Group Holdings earnings: last reported Mon, 3 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,547 | +18.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 27.8 | −0.4 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 102 | +3.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
11 of 11 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| UFC Freedom 250 (White House event) net cost after offsetting partnership inventory sales | approximately $30 million net (event cost of upwards of $60 million, offset by roughly half via sellable inventory) | Dec 2025 | Given the events financial profile, which as anticipated, resulted in approximately $30 million loss, our margins at UFC as well as on a consolidated basis, were meaningfully impacted. | Achieved |
| Full-year adjusted EBITDA | $2.24 billion to $2.29 billion | Dec 2025 | We are now targeting revenue of $5.775 billion, to $5.825 billion and adjusted EBITDA of $2.275 billion to $2.305 billion, representing an increase of $75 million and $25 million, respectively, at the midpoint of the ranges as compared to the prior guidance issued in February. | Revised Up |
| Financial incentive packages (FIPs) aggregate value by 2030 | $380 million to $420 million | Dec 2025 | our target of $380 million to $420 million by the year 2030 is on plan. | On Track |
12 of TKO Group Holdings, Inc.'s 23 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 20 more targets are in the full ledger.
Claimed
- Full-year guidance raised by $75 million for revenue and $25 million for adjusted EBITDA at the midpoint.
- UFC Freedom 250 generated over $1 billion in earned media value and added 25 new marketing partners.
- FIFA World Cup hospitality sales surpassed $2 billion from over 568,000 packages through Q2.
- On Location's LA28 Olympics program already generated over $280 million from more than 20,000 bookings.
- Year-to-date capital returns to equity holders exceeded $1.3 billion through dividends and share repurchases.
Qualified
- UFC Freedom 250 resulted in an approximate $30 million loss, impacting UFC and consolidated margins.
- WWE's Q2 adjusted EBITDA margin was flat year-over-year at 59%, impacted by higher-cost international events.
- WWE live events and hospitality revenue decreased 18% due to lower ticket sales for WrestleMania 42 compared to the prior year.
Price
$174.24 −0.72% · −$1.26
Performance −7.9% 1Y
1Y: $189.28 on 17 Oct 2025 → $174.24. High $224.96 (2 Mar 2026), low $172.38 (14 Oct 2026).
- Previous close
- $175.5
- 52-week range
- $172.38 – $224.96
- One year
- −6.73%
Overview
- Symbol
- TKO
- Sector
- Communication Services
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
11 of 11 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| UFC Freedom 250 (White House event) net cost after offsetting partnership inventory sales | approximately $30 million net (event cost of upwards of $60 million, offset by roughly half via sellable inventory) | Dec 2025 | Given the events financial profile, which as anticipated, resulted in approximately $30 million loss, our margins at UFC as well as on a consolidated basis, were meaningfully impacted. | Achieved |
| Full-year adjusted EBITDA | $2.24 billion to $2.29 billion | Dec 2025 | We are now targeting revenue of $5.775 billion, to $5.825 billion and adjusted EBITDA of $2.275 billion to $2.305 billion, representing an increase of $75 million and $25 million, respectively, at the midpoint of the ranges as compared to the prior guidance issued in February. | Revised Up |
| Financial incentive packages (FIPs) aggregate value by 2030 | $380 million to $420 million | Dec 2025 | our target of $380 million to $420 million by the year 2030 is on plan. | On Track |
Claimed
- Full-year guidance raised by $75 million for revenue and $25 million for adjusted EBITDA at the midpoint.
- UFC Freedom 250 generated over $1 billion in earned media value and added 25 new marketing partners.
- FIFA World Cup hospitality sales surpassed $2 billion from over 568,000 packages through Q2.
- On Location's LA28 Olympics program already generated over $280 million from more than 20,000 bookings.
- Year-to-date capital returns to equity holders exceeded $1.3 billion through dividends and share repurchases.
Qualified
- UFC Freedom 250 resulted in an approximate $30 million loss, impacting UFC and consolidated margins.
- WWE's Q2 adjusted EBITDA margin was flat year-over-year at 59%, impacted by higher-cost international events.
- WWE live events and hospitality revenue decreased 18% due to lower ticket sales for WrestleMania 42 compared to the prior year.
The full ledger
Open TKO Group Holdings, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 23 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 6, 2026
TKO Group Holdings Q1 FY26 — Strong Performance and Capital Return
Read the full callSep 2025 (Q3 FY25) — Nov 5, 2025
TKO Group Holdings Q3 FY25 — Landmark Media Rights Deals and Raised Guidance Drive Strong Quarter
Read the full callEvery analysed call
TKO Group Holdings earnings calls (TKO)
Financials
What the filings say
Net profit, year on year: +3% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,541 | 928 | 1,269 | 1,308 | 1,120 | 1,038 | 1,597 | 1,547 |
| Operating profit | 35 | 55 | 237 | 368 | 172 | 57 | 338 | 430 |
| Operating margin | 2.3% | 5.9% | 18.7% | 28.1% | 15.4% | 5.5% | 21.2% | 27.8% |
| Interest | 59 | 56 | 45 | 48 | 51 | 59 | 61 | 71 |
| Profit before tax | 8 | 44 | 184 | 312 | 118 | -8 | 282 | 362 |
| Tax rate | 37.7% | −13.8% | 11.5% | 14.9% | 10.8% | 85.4% | 12.0% | 14.7% |
| Net profit | 23 | 31 | 58 | 98 | 41 | -2 | 89 | 102 |
| EPS ($ per share) | 0.29 | 0.38 | 0.72 | 1.20 | 0.50 | -0.03 | 1.16 | 1.36 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Reserves | — | — | -135 | -292 | -797 |
| Total liabilities | — | 3,002 | 3,840 | 4,969 | 6,246 |
| Fixed assets | — | 175 | 608 | 630 | 640 |
| Total assets | — | 3,581 | 12,691 | 15,112 | 15,496 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash from operations | 441 | 502 | 266 | 586 | 1,286 |
| Cash from investing | -11 | -13 | -36 | -117 | -147 |
| Cash from financing | 163 | -1,181 | -174 | -155 | -636 |
| Net cash flow | 592 | -694 | 56 | 306 | 508 |
TKO revenue by segment
Ultimate Fighting Championship shrank from 52% to 35% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| World Wrestling Entertainment | 48% | 46% | 31% | 43% | 36% | 35% | 30% | 40% | +11.7% |
| Ultimate Fighting Championship | 52% | 54% | 28% | 32% | 29% | 39% | 25% | 35% | +28.8% |
| IMG | — | — | 38% | 23% | 30% | 24% | 41% | 23% | +15.6% |
| Corporate and Other | — | — | 4% | 3% | 6% | 4% | 5% | 3% | +8.6% |
| Eliminations | — | — | -1% | -1% | -1% | -1% | -1% | -1% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
177 filings between Oct 31, 2025 and Oct 15, 2026.
Open market
decisions to buy or sellPurchases
$5.49M
8 purchases by 4 insiders
Sales
$68.89M
133 sales by 6 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 3
- Award — granted as compensation
- 31
- Option exercise — converted options into shares
- 2
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Khan Nick | — | $36.82M | Oct 15, 2026 |
| SHAPIRO MARK S | $2.00M | $13.15M | Aug 18, 2026 |
| Emanuel Ariel | $2.00M | $4.80M | Aug 18, 2026 |
| KRAUSS SETH D | — | $6.45M | Jan 27, 2026 |
| Schleimer Andrew M | $500.0K | $5.52M | Aug 18, 2026 |
| Kapral Shane | — | $2.14M | Mar 9, 2026 |
| KRAFT JONATHAN | $987.8K | — | May 14, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 15, 2026 | Khan Nick Director | Sale 10b5-1 plan | 9,189 | $1.61M |
| Oct 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 400 | $70.0K |
| Sep 14, 2026 | Emanuel Ariel Chief Executive Officer | Tax withheld | 49,481 | $9.42M |
| Sep 14, 2026 | Khan Nick Director | Sale 10b5-1 plan | 4,256 | $826.2K |
| Sep 14, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,421 | $277.1K |
| Sep 14, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,200 | $236.5K |
| Sep 14, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,333 | $257.4K |
| Sep 14, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,279 | $250.6K |
| Sep 14, 2026 | Khan Nick Director | Sale 10b5-1 plan | 100 | $19.8K |
| Sep 12, 2026 | Emanuel Ariel Chief Executive Officer | Option exercise | 97,041 | $0 |
| Aug 19, 2026 | Khan Nick Director | Sale 10b5-1 plan | 600 | $120.0K |
| Aug 19, 2026 | Khan Nick Director | Sale 10b5-1 plan | 300 | $58.9K |
| Aug 19, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,400 | $278.9K |
| Aug 19, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,000 | $197.6K |
| Aug 19, 2026 | Khan Nick Director | Sale 10b5-1 plan | 600 | $121.1K |
| Aug 19, 2026 | Khan Nick Director | Sale 10b5-1 plan | 2,246 | $451.7K |
| Aug 19, 2026 | Khan Nick Director | Sale 10b5-1 plan | 400 | $77.1K |
| Aug 18, 2026 | Schleimer Andrew M Chief Financial Officer | Sale 10b5-1 plan | 9,942 | $1.93M |
| Aug 18, 2026 | Emanuel Ariel Chief Executive Officer | Sale 10b5-1 plan | 24,702 | $4.80M |
| Aug 18, 2026 | Khan Nick Director | Sale 10b5-1 plan | 8,248 | $1.60M |
| Aug 18, 2026 | SHAPIRO MARK S See Remarks | Sale 10b5-1 plan | 19,120 | $3.72M |
| Aug 17, 2026 | Schleimer Andrew M Chief Financial Officer | Option exercise 10b5-1 plan | 17,753 | $0 |
| Aug 17, 2026 | Emanuel Ariel Chief Executive Officer | Option exercise 10b5-1 plan | 44,381 | $0 |
| Aug 17, 2026 | Khan Nick Director | Option exercise 10b5-1 plan | 14,794 | $0 |
| Aug 17, 2026 | SHAPIRO MARK S See Remarks | Option exercise 10b5-1 plan | 36,984 | $0 |
| Aug 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 3,800 | $745.9K |
| Aug 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 500 | $97.5K |
| Aug 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,989 | $396.1K |
| Aug 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 900 | $178.4K |
| Aug 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 2,400 | $472.7K |
| Jul 21, 2026 | Khan Nick Director | Sale 10b5-1 plan | 12,866 | $2.33M |
| Jul 21, 2026 | Khan Nick Director | Sale 10b5-1 plan | 132 | $23.9K |
| Jul 20, 2026 | Khan Nick Director | Sale 10b5-1 plan | 3,682 | $672.1K |
| Jul 20, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,700 | $315.0K |
| Jul 20, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,400 | $258.2K |
| Jul 20, 2026 | Khan Nick Director | Sale 10b5-1 plan | 3,299 | $605.1K |
| Jul 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 830 | $153.8K |
| Jul 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,670 | $307.7K |
| Jul 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,600 | $292.8K |
| Jul 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,933 | $351.8K |
| Jul 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 200 | $37.2K |
| Jul 13, 2026 | Khan Nick Director | Sale 10b5-1 plan | 3,356 | $607.9K |
| Jun 30, 2026 | Khan Nick Director | Award | 90 | $0 |
| Jun 12, 2026 | Khan Nick Director | Sale 10b5-1 plan | 200 | $43.2K |
| Jun 12, 2026 | Khan Nick Director | Sale 10b5-1 plan | 500 | $99.7K |
| Jun 12, 2026 | Khan Nick Director | Sale 10b5-1 plan | 100 | $21.5K |
| Jun 12, 2026 | Khan Nick Director | Sale 10b5-1 plan | 200 | $42.7K |
| Jun 12, 2026 | Khan Nick Director | Sale 10b5-1 plan | 300 | $63.5K |
| Jun 12, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,400 | $295.8K |
| Jun 12, 2026 | Khan Nick Director | Sale 10b5-1 plan | 1,100 | $231.1K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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