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TKO Group Holdings, Inc. (NYSE: TKO), a Delaware-incorporated company operating in the amusement and recreation services sector with a market capitalization of $25.7 billion and strong financial health according to InvestingPro analysis, disclosed updated financial information today following its acquisition of assets from Endeavor Group Holdings, Inc. The company filed an 8-K with the SEC, providing recast historical audited financial data for the fiscal years ended December 31, 2023, and 2022.
The 8-K filing includes adjustments to reflect the acquisition of the Professional Bull Riders, On Location, and IMG businesses as if the transaction, which was completed on February 28, 2025, had occurred on January 1, 2022. Additionally, the company has adopted the ASU 2023-07 accounting standard, which improves reportable segment disclosures, applied retrospectively to the beginning of the earliest period presented.
The recast financial information aims to offer a more accurate representation of TKO Group Holdings’ financial condition and results of operations by integrating the acquired businesses’ historical data. With impressive revenue growth of 67.4% in the last twelve months and a healthy gross profit margin of 67.9%, the company demonstrates strong operational performance. This restatement does not amend or restate prior periodic filings, such as the Annual Reports on Form 10-K for the fiscal years ended December 31, 2024, 2023, or 2022.
Investors can access the detailed financial statements and notes, now available in Inline Extensible Business Reporting Language (iXBRL) format, which provides enhanced accessibility and analysis of the data.
The updated financials come as part of the company’s ongoing efforts to provide transparent and comprehensive financial information following significant corporate transactions. The recast data will support stakeholders in making more informed assessments of the company’s performance and prospects. For deeper insights into TKO’s valuation and growth potential, InvestingPro subscribers can access detailed financial analysis, including 12 exclusive ProTips and a comprehensive Pro Research Report, which transforms complex Wall Street data into actionable intelligence.
This report is based on a press release statement and provides a factual summary of the company’s financial adjustments post-acquisition, as filed with the SEC.
In other recent news, TKO Group Holdings reported fourth-quarter earnings for 2024 that exceeded Wall Street’s expectations, with revenues and adjusted EBITDA surpassing forecasts. Following these results, the company completed acquisitions of IMG, On Location, and PBR, which are part of its strategy to diversify offerings and strengthen market position. Jefferies analyst Randal Konik increased TKO Group’s stock target to $220, maintaining a Buy rating, citing the anticipated lucrative media rights deal for the Ultimate Fighting Championship (UFC) as a significant financial boost. TD Cowen also raised the price target to $200 from $145, highlighting the positive impact of the UFC media rights renewal and recent acquisitions. Meanwhile, Citi maintained its Buy rating with a $170 price target, noting the positive financial performance and strategic expansion efforts.
Seaport Global Securities upgraded TKO Group’s stock from Neutral to Buy, setting a $164 price target, viewing recent share price declines as an investment opportunity. The firm emphasized the importance of the upcoming UFC broadcasting rights renewal and the completion of corporate restructuring. Additionally, TKO Group announced a partnership with Sela to develop a global boxing promotion platform, aiming to enhance talent development and deliver high-quality events. This collaboration is expected to leverage TKO’s production capabilities and Sela’s experience in sports marketing. These developments indicate a period of strategic growth and financial optimism for TKO Group Holdings.
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