TKO Group Q1 2026 Earnings: Simple Breakdown for Wrestling & UFC Fans
Quick Take: TKO Group just dropped its Q1 2026 results and delivered a strong beat. Revenue jumped 26% to $1.597 billion, Adjusted EBITDA soared 32% to $550 million, and management is aggressively buying back stock.
TKO Crushed It in Q1 2026
- Revenue: $1.597 billion → +26% YoY
- Adjusted EBITDA: $550 million → +32% YoY
- Cash flow was massive and they just authorized another $1 billion share buyback.
Segment Breakdown
| Segment | Q1 Revenue | Growth | Key Drivers |
|---|---|---|---|
| UFC | $401M | +12% | New Paramount media deal boosted rights fees. Fewer Fight Nights hurt live events slightly. |
| WWE | $476M | +22% | Big Saudi money for Royal Rumble + Netflix/ESPN deals. Strong merch and live events. |
| IMG / On Location | $655M | +38% | Olympics hospitality (Milano Cortina 2026) was a monster. |
| Total | $1.597B | +26% | Balanced growth across the board. |
Full Year 2026 Guidance (Unchanged)
Revenue: $5.675B – $5.775B
Adjusted EBITDA: $2.24B – $2.29B
Bottom Line
Clean, strong quarter with no major red flags. Media rights are printing money, live events + hospitality are booming, and TKO is executing well. Bullish long-term on the combination of WWE + UFC.
Source: TKO Group Investor Relations
