The company said revenue for 2023 rose to $1,675.0 million, up $534.9 million (47%) from the prior year. That includes a UFC revenue increase of $152.1 million (13%) and WWE revenue of $382.8 million from September 12, 2023 through December 31.

10-KAnnual reportFiled Feb 27, 2024Period of report Dec 31, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said revenue for 2023 rose to $1,675.0 million, up $534.9 million (47%) from the prior year. That includes a UFC revenue increase of $152.1 million (13%) and WWE revenue of $382.8 million from September 12, 2023 through December 31.
TKO said direct operating costs for 2023 rose to $514.6 million, up 58%, and selling, general and administrative expenses rose to $549.1 million, up 161%. The increase in Corporate selling, general and administrative expenses includes $83.8 million in professional fees and bonuses related to the Transactions.
The company said net interest expense for 2023 rose to $239.0 million, an increase of $99.4 million (71%), and cited significantly higher interest rates on variable rate debt as the main factor. Its provision for income taxes was $31.5 million, up from $14.3 million in 2022.
The company said net cash provided by operating activities for 2023 was $468.4 million (2022: $501.7 million), and net cash used in financing activities was $424.5 million. Financing activities include net distributions to Endeavor and its affiliates of $296.6 million and share repurchases of $100.0 million.

Key figures

Fiscal year ended December 31, 2023

Revenue: $1.7B
Operating income: $447M
Net income: −$35M
EPS: −$0.43
Operating cash flow: $468M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Annual Revenue of $1,675.0 million, Including WWE

The company said revenue for 2023 rose to $1,675.0 million, up $534.9 million (47%) from the prior year. That includes a UFC revenue increase of $152.1 million (13%) and WWE revenue of $382.8 million from September 12, 2023 through December 31.

Source · Based on the MD&A text of the filing

Higher Costs and Transactions-Related Items

TKO said direct operating costs for 2023 rose to $514.6 million, up 58%, and selling, general and administrative expenses rose to $549.1 million, up 161%. The increase in Corporate selling, general and administrative expenses includes $83.8 million in professional fees and bonuses related to the Transactions.

Source · Based on the MD&A text of the filing

Net Interest Expense and Income Tax Provision

The company said net interest expense for 2023 rose to $239.0 million, an increase of $99.4 million (71%), and cited significantly higher interest rates on variable rate debt as the main factor. Its provision for income taxes was $31.5 million, up from $14.3 million in 2022.

Source · Based on the MD&A text of the filing

Operating and Financing Cash Flows

The company said net cash provided by operating activities for 2023 was $468.4 million (2022: $501.7 million), and net cash used in financing activities was $424.5 million. Financing activities include net distributions to Endeavor and its affiliates of $296.6 million and share repurchases of $100.0 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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