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This afternoon, TKO Group (WWE and UFC) published through a note on its official website the financial results of the company during the first quarter of 2026. It is worth noting a 22% increase in revenue generated solely by WWE (10 million more than in the same period of the previous year). Below is a summary of the most important data and figures:
NEW YORK–(BUSINESS WIRE)– TKO Group Holdings, Inc. ("TKO" or "the company") (NYSE: TKO) announced today its financial results for the first quarter ended March 31, 2026.
"TKO has had a strong start in 2026, with solid results and steady momentum across all our business lines", stated Ariel Emanuel, CEO of TKO. "We reaffirm our full-year forecasts, and today's additional authorization for a 1.000 million dollars share buyback underscores our conviction in TKO and its long-term value".
"TKO's first-quarter results reflect the strength and durability of our top-tier intellectual property. Our media rights portfolio is solidly consolidated, our financial incentive packages continue to grow, and the demand for our top-tier live events and experiences is strong," said Mark Shapiro, President and COO of TKO. "With UFC Freedom 250 at the White House and On Location's collaboration with the FIFA World Cup, TKO will be at the forefront this summer, marking a highlight for audience growth, cultural relevance, and the trajectory of our business."
Revenue increased by 26%, or 328.1 million dollars, reaching 1.597 billion dollars. This increase was mainly due to a 41.5 million dollar increase in UFC, up to 401.2 million dollars; an 84.2 million dollar increase in WWE, up to 475.7 million dollars; and a 179.1 million dollar increase in the IMG segment, up to 655.4 million dollars.
Net profit was 249.8 million dollars, an improvement of 84.3 million dollars compared to the 165.5 million in the same period of the previous year. The improvement was due to the revenue increase, partially offset by an increase in operating expenses. The increase in operating expenses was mainly due to a 166.8 million dollar increase in direct operating costs, a 16.9 million dollar increase in selling, general, and administrative expenses, and a 43.3 million dollar increase in depreciation and amortization. The increases in direct operating costs and selling, general, and administrative expenses were mainly due to expenses recorded in the IMG segment related to the 2026 Milan-Cortina Olympics.
Adjusted EBITDA1 increased by 32%, or 132.4 million dollars, reaching 549.8 million dollars, mainly due to a 27.1 million dollar increase in UFC, a 62.2 million dollar increase in WWE, and a 23.8 million dollar increase in the IMG segment.
The adjusted EBITDA margin increased from 33% to 34%.
Cash flows generated from operating activities amounted to 694.5 million dollars, an increase of 531.7 million dollars compared to the previous 162.8 million dollars, mainly due to operational results improvement and working capital management, including approximately 582.4 million dollars in net advances deposited as collateral related to the 2026 FIFA World Cup.
Free cash flow3 was 674.5 million dollars, an increase of 539.0 million dollars compared to the previous 135.5 million dollars, due to increased cash flows from operating activities and a decrease in capital expenditures.
Cash and cash equivalents amounted to 788.9 million dollars as of March 31, 2026. Gross debt was 4.671 billion dollars as of March 31, 2026.
Revenue increased by 22%, or 84.2 million dollars, to 475.7 million dollars, driven by growth in live events, media rights, and consumer products.
Adjusted EBITDA increased by 32%, or 62.2 million dollars, to 256.1 million, mainly due to revenue growth.
The adjusted EBITDA margin increased to 54% from 50%.
