TKO raises 2025 guidance as third-quarter revenue falls 27% to $1.120 billion
TKO Group Holdings reported third-quarter 2025 revenue of $1.120 billion, down 27% from the prior year, mainly because the prior-year period included IMG revenue from the 2024 Paris Olympics. Net income rose to $106.8 million from $3.4 million, and Adjusted EBITDA increased 59% to $360.2 million, so profit and guidance improved while revenue declined. The company raised its full-year 2025 revenue and Adjusted EBITDA targets.
Key points
- Q3 2025 revenue was $1.120 billion, down $420.8 million (27%) from the prior-year period, primarily due to IMG's prior-year Paris Olympics revenue.
- Net income was $106.8 million versus $3.4 million a year earlier; Adjusted EBITDA was $360.2 million, up 59%.
- Full-year 2025 revenue guidance was raised to $4.690 billion to $4.720 billion, and Adjusted EBITDA guidance to $1.570 billion to $1.580 billion.
- Free cash flow was $398.9 million versus $151.0 million a year earlier; cash and equivalents were $861.4 million and gross debt was $3.759 billion as of September 30, 2025.
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 05, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.