Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40373 ENDEAVOR GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 83-3340169 (Stat ...

Exhibit 99.1 Endeavor Releases Third Quarter 2024 Results Beverly Hills, CA (November 7, 2024) – Endeavor Group Holdings, Inc. (NYSE: EDR) ("Endeavor" or the "Company"), a global sports and entertainment company, today released its financial results for the quarterly period ended September 30, 2024. Highlights • $2.032 billion in Q3 2024 revenue • Growth across Owned Sports Properties driven by strong revenue performance at WWE, as well as increases in media rights at Professional Bull Riders ("PBR") • Stre ...

SAN DIEGO, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX: EDVR) (the “Company,” or “Bancorp”), the holding company for Endeavor Bank (the “Bank”), today reported net income of $924,000, or $0.22 per diluted share, for the third quarter of 2024, compared to net income of $760,000, or $0.18 per diluted share, for the second quarter of 2024, and $1,218,000, or $0.29 per diluted share, for the third quarter of 2023. Pretax net income was $1.3 million in the third quarter compared to $1.1 million in ...

Merger and Acquisition Activities - Affiliates of Silver Lake agreed to acquire 100% of Endeavor's outstanding shares at $27.50 per share, subject to regulatory approvals[6] - The Merger Agreement includes covenants restricting the sale of certain assets, excluding TKO and WME's agency representation business[7] - Endeavor entered into a Merger Agreement in April 2024, with Silver Lake acquiring 100% of outstanding shares at $27.50 per share or unit[13] - The Merger Agreement includes quarterly dividends of $0.06 per share for Class A common stock prior to closing[13] - In April 2024, the company entered into a Merger Agreement with affiliates of Silver Lake to acquire 100% of its outstanding shares at $27.50 per share[133] Discontinued Operations - Endeavor Group Holdings initiated the sale of its Sports Data & Technology (SD&T) segment, including OpenBet and IMG ARENA, in Q2 2024, classifying it as discontinued operations[5] - The company recast its financial statements to reflect the SD&T segment as discontinued operations for all periods presented in the Form 8-K[5] - Endeavor's financial statements and disclosures in the 2023 Annual Report were updated to reflect the SD&T segment as discontinued operations[7] - Endeavor initiated the sale of its Sports Data & Technology (SD&T) segment in Q2 2024, classifying it as discontinued operations[13] - The Sports Data & Technology segment was formed on January 1, 2023, and is now considered a discontinued operation[20][21] - The company initiated the sale of its SD&T segment, including OpenBet, in the second quarter of 2024[180] Financial Performance and Revenue - Revenue increased by $483.2 million (9.6%) to $5,490.8 million in 2023 compared to 2022[28] - Owned Sports Properties revenue grew by $483.5 million (36.3%), driven by the acquisition of WWE and higher media rights fees[28] - Events, Experiences & Rights revenue decreased by $18.9 million (0.9%), primarily due to the sale of the Academy and a decline in On Location's music business[28] - Representation revenue increased by $32.3 million (2.1%), driven by growth in nonscripted content production and marketing businesses[28] - Revenue increased by $120.6 million (2.5%) to $5,007.6 million for the year ended December 31, 2022 compared to 2021[29] - Owned Sports Properties revenue increased by $224.1 million (20.2%) driven by UFC growth and PBR events[29] - Events, Experiences & Rights revenue increased by $346.0 million (18.7%) due to the return of live events and acquisitions[30] - Representation revenue decreased by $447.6 million (22.8%) primarily due to the sale of the restricted Endeavor Content business[30] - Total Revenue for 2023 was $5,490.7 million, up from $5,007.6 million in 2022[44] - Adjusted EBITDA for Owned Sports Properties in 2023 was $827.0 million, up from $648.1 million in 2022[44] - Revenue for the Owned Sports Properties segment increased by 36.3% to $1,815.9 million in 2023, driven by the acquisition of WWE and growth in UFC and PBR revenues[46] - Adjusted EBITDA for the Owned Sports Properties segment rose by 27.6% to $827.0 million in 2023, primarily due to the WWE acquisition and revenue growth at UFC and PBR[46] - Revenue for the Events, Experiences & Rights segment decreased by 0.9% to $2,173.4 million in 2023, impacted by the sale of the Academy and declines in On Location's music business[48] - Adjusted EBITDA for the Events, Experiences & Rights segment declined by 22.6% to $228.1 million in 2023, driven by lower revenue and higher direct operating costs[50] - Revenue for the Representation segment increased by 2.1% to $1,544.4 million in 2023, supported by growth in nonscripted content production, marketing, and licensing businesses[52] - Adjusted EBITDA for the Representation segment decreased by 16.7% to $391.1 million in 2023, due to higher selling, general, and administrative expenses[52] - Revenue for the Events, Experiences & Rights segment increased by 18.7% to $2,192.3 million in 2022, driven by the return of live events and the acquisition of the Madrid Open[51] - Adjusted EBITDA for the Events, Experiences & Rights segment grew by 64.8% to $294.8 million in 2022, supported by revenue growth and lower insurance recoveries[51] - Revenue for the year ended December 31, 2022 decreased by $447.6 million (22.8%) to $1,512.2 million, primarily due to the sale of the restricted Endeavor Content business, which contributed $737 million in revenue in the prior year[54] - Excluding the revenue from the restricted Endeavor Content business, revenue for the year ended December 31, 2022 increased by 24% compared to the prior year[54] - Direct operating costs for the year ended December 31, 2022 decreased by $615.6 million (71.0%) to $251.9 million, largely due to the sale of the restricted Endeavor Content business[54] - Selling, general and administrative expenses for the year ended December 31, 2022 increased by $80.0 million (11.3%) to $790.0 million, driven by higher personnel and travel costs[54] - Adjusted EBITDA for the year ended December 31, 2022 increased by $86.4 million (22.5%) to $469.8 million, primarily due to revenue growth excluding the restricted Endeavor Content business[54] - Adjusted EBITDA for Corporate and other for the year ended December 31, 2022 decreased by $39.4 million (14.8%) to $(266.4) million, driven by higher personnel and administrative costs[55] - Adjusted EBITDA for the year ended December 31, 2023 was consistent with the prior year, at $(305,817) thousand[57][58] - Net income for 2023 increased to $557.469 million, up from $321.664 million in 2022[123] - Total comprehensive income for 2023 reached $588.894 million, compared to $429.578 million in 2022[123] - Comprehensive income attributable to Endeavor Group Holdings, Inc. for 2023 was $380.407 million, up from $189.849 million in 2022[123] - Total shareholders' equity at December 31, 2023, was $11.507 billion, up from $3.053 billion at the start of the year[124] - Additional paid-in capital increased to $4.901 billion in 2023 from $2.120 billion in 2022[124] - Nonredeemable noncontrolling interests grew to $6.722 billion in 2023 from $1.172 billion in 2022[124] - Accumulated deficit decreased to $(117.065) million in 2023 from $(216.219) million in 2022[124] - Redeemable noncontrolling interests decreased to $215.458 million in 2023 from $253.079 million at the start of the year[124] - Class A common stock shares increased to 298.698 million in 2023 from 290.541 million in 2022[124] - Total comprehensive income for 2022 was $429.578 million, up from $(412.228) million in 2021[123] - Total Shareholders' Equity Attributable to Endeavor Group Holdings, Inc. at December 31, 2021 was $1,247,046 thousand[126] - Accumulated Deficit at December 31, 2021 was $(296,625) thousand[126] - Additional Paid-In Capital at December 31, 2021 was $1,624,201 thousand[126] - Total Shareholders'/ Members' Equity at December 31, 2021 was $2,121,463 thousand[126] - Redeemable Noncontrolling Interests at December 31, 2021 was $209,863 thousand[126] - Accumulated Other Comprehensive Loss at December 31, 2021 was $(80,535) thousand[126] - Class A Common Stock Shares Amount at December 31, 2021 was 265,553,327[126] - Class X Common Stock Shares Amount at December 31, 2021 was 186,222,061[126] - Class Y Shares at December 31, 2021 was 238,154,296[126] - Net income from continuing operations increased to $551.7 million in 2023, up from $310 million in 2022 and a loss of $495.5 million in 2021[127] - Net cash provided by operating activities from continuing operations was $309.8 million in 2023, down from $481.2 million in 2022[127] - Proceeds from business divestitures, net of cash sold, were $1.08 billion in 2023, compared to $924.8 million in 2022[127] - Depreciation and amortization expenses increased to $310.2 million in 2023, up from $248.7 million in 2022[127] - Equity-based compensation expense rose to $254 million in 2023, compared to $209.4 million in 2022[127] - The company repurchased $200 million of Class A common stock in 2023[127] - Cash, cash equivalents, and restricted cash at the end of 2023 were $1.44 billion, up from $1.05 billion in 2022[127] Risks and Challenges - The company's forward-looking statements highlight risks related to the Merger Agreement, market trends, and integration of acquired businesses[8] - Endeavor faces risks from changes in consumer behavior, reliance on key personnel, and cybersecurity threats[8] - The company's substantial indebtedness and tax-related risks are noted as potential challenges[9] - Endeavor's ability to comply with U.S. and foreign regulations and union requirements is a key risk factor[8] - The company's control by Silver Lake Equityholders and Executive Holdcos presents potential conflicts of interest[9] Business Operations and Events - The UFC produces over 40 live events annually, broadcast in 170+ countries to 900+ million TV households[16] - UFC has approximately 260 million social media followers globally[16] - WWE has over 700 million fans and 360 million social media followers, including talent pages[16] - WWE’s programming is available in over 1 billion households across 160 countries[16] - PBR hosts more than 200 events annually with attendance quadrupling since 1995[16] - Endeavor has a 20-year partnership with Euroleague basketball, potentially extending to 2036[17] - Endeavor sold its Diamond Baseball Holdings (DBH) business, including 10 PDL Clubs, for $280 million in September 2022[17] - The company sold the Academy business in June 2023, impacting the Events, Experiences & Rights segment[18] - The company sold 80% of the restricted Endeavor Content business in January 2022, affecting the Representation segment[19] - The company represents more than 7,000 talent and corporate clients through its Representation segment[19] - The company owns, operates, or represents hundreds of global events annually, including major sports events and fashion weeks[18] - OpenBet processes billions of bets annually and IMG ARENA delivers live streaming and data feeds for over 65,000 sports events annually[20] - The SD&T segment processes billions of bets annually and delivers live streaming and data feeds for more than 65,000 sports events annually[180] Costs and Expenses - Direct operating costs increased by $282.7 million (14.7%) to $2,211.9 million for the year ended December 31, 2023[32] - Selling, general and administrative expenses increased by $312.0 million (13.7%) to $2,590.2 million for the year ended December 31, 2023[33] - Depreciation and amortization increased by $61.5 million (24.7%) to $310.2 million for the year ended December 31, 2023[35] - Interest expense, net increased by $63.9 million (22.6%) to $346.2 million for the year ended December 31, 2023[37] - Direct operating costs for the Owned Sports Properties segment increased by 39.9% to $606.9 million in 2023, largely due to the WWE acquisition and higher UFC expenses[46] - Selling, general, and administrative expenses for the Owned Sports Properties segment rose by 54.0% to $381.6 million in 2023, primarily due to WWE-related costs[46] - Selling, general and administrative expenses for the year ended December 31, 2022 increased by $80.0 million (11.3%) to $790.0 million, driven by higher personnel and travel costs[54] - Equity-based compensation for the year ended December 31, 2023 increased primarily due to equity awards granted under the new TKO equity plan and the WWE plan[61] - Merger, acquisition, and earn-out costs for the year ended December 31, 2023 were approximately $101 million, primarily related to professional advisor costs and bonuses contingent on the closing of the Transactions[61] - Restructuring, severance, and impairment costs for the year ended December 31, 2023 included approximately $75 million related to impairments of intangible assets and goodwill in the Events, Experiences & Rights segment[63] - Direct operating costs include third-party expenses, content production costs, media rights fees, venue rental, athlete compensation, and consumer product merchandise costs[151] - Selling, general, and administrative expenses primarily consist of personnel costs, rent, professional services, and other overhead[152] Debt and Financing - Total outstanding indebtedness as of December 31, 2023, is $5.0 billion under the Senior Credit Facilities[68] - Borrowing capacity under the Senior Credit Facilities is $405 million, with $375 million available as of December 31, 2023[68] - Term loans under the Credit Facilities total $2.2 billion, with interest rates at SOFR plus 2.75% or ABR plus 1.75%[69] - UFC Credit Facilities include $2.7 billion in first lien term loans, with interest rates at SOFR plus 2.75%-3.00% or ABR plus 1.75%-2.00%[70] - Net cash provided by operating activities decreased from $481.2 million in 2022 to $309.8 million in 2023[75] - Net cash provided by investing activities increased from $67.2 million in 2022 to $787.8 million in 2023, primarily due to $1.077 billion from business sales[75] - Net cash used in financing activities increased from $549.9 million in 2022 to $734.2 million in 2023, driven by debt payments and stock repurchases[75] - Net cash flows from discontinued operations changed from $(750.0) million in 2022 to $26.4 million in 2023[76] - On Location revolving credit agreement has $42.9 million in total borrowing capacity, with no borrowings outstanding as of December 31, 2023[72] - The company executed $1.5 billion in interest rate hedges in May 2019, transitioning from LIBOR to SOFR with a new average fixed coupon of 2.05%[69] - Operating activities improved from $330.1 million in 2021 to $481.2 million in 2022, driven by net income of $310.0 million and non-cash items of $410.4 million[77] - Investing activities shifted from $(621.0) million cash used in 2021 to $67.2 million cash provided in 2022, primarily due to $924.8 million from the sale of restricted businesses[77] - Financing activities changed from $960.2 million cash provided in 2021 to $(549.9) million cash used in 2022, mainly due to $578.1 million in net debt payments[78] - Discontinued operations cash used increased from $(34.6) million in 2021 to $(750.0) million in 2022, driven by the acquisition of OpenBet[78] - The company declared and paid quarterly cash dividends of $27.4 million in September 2023 and $27.1 million in December 2023[79] - As of December 31, 2023, the company completed its $300 million share repurchase authorization and does not expect further repurchases[79] - The company has a tax receivable agreement liability of $990.5 million as of December 31, 2023, with $156.2 million paid in February 2024[82][85] - Long-term debt principal repayments total $5,061,164 thousand, with $75,388 thousand due in 2024 and $4,929,717 thousand due in 2025-2026[85] - Operating lease liabilities amount to $421,164 thousand, with $94,924 thousand due in 2024 and $171,383 thousand due in 2025-2026[85] - Purchase obligations and guarantees total $2,973,348 thousand, with $809,009 thousand due in 2024 and $929,240 thousand due in 2025-2026[85] Revenue Recognition - Revenue recognition for commission-based arrangements occurs over time or at the point of client performance, with packaging revenue recognized upon program completion and delivery[90] - Client profit participation revenue is recognized over time based on sales or usage of intellectual property, with estimates subject to change[90] - Package back-end profit participation revenue is recognized over time as sales or usage occurs, based on statements or management estimates[90] - Licensing revenue from merchandise sales is recognized over time based on sales or usage of symbolic intellectual property[90] - Content development-based revenue is recognized when content becomes available for exploitation and is accepted by the customer[92] - Event-based revenue is recognized over the course of the event or contract term, with advance ticket sales recorded as deferred revenue[94] - Pay-per-view revenue is recognized when the event is aired, with initial estimates based on preliminary buy information subject to adjustment[96] - Technology platforms revenue includes fixed-fee and revenue-share licenses, with revenue recognized over the customer development period or as revenue share is generated[97] - Sports streaming and data revenue includes fixed license fees

MIDLAND, Texas, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Diamondback Energy, Inc. (NASDAQ: FANG) ("Diamondback"), today announced that it has closed its merger with Endeavor Energy Resources, L.P. ("Endeavor"). "We are pleased to announce the closing of this transformative merger, creating a 'must own' North American independent oil company," said Travis Stice, Chairman and Chief Executive Officer of Diamondback. "Today, Diamondback is not only bigger, but better. Our high-quality inventory located in the heart o ...

Endeavor Group (EDR) reported $1.75 billion in revenue for the quarter ended June 2024, representing a yearover-year increase of 21.9%. EPS of $0.54 for the same period compares to -$0.19 a year ago. The reported revenue represents a surprise of -6.40% over the Zacks Consensus Estimate of $1.87 billion. With the consensus EPS estimate being $0.59, the EPS surprise was -8.47%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Endeavor Group (EDR) came out with quarterly earnings of $0.54 per share, missing the Zacks Consensus Estimate of $0.59 per share. This compares to loss of $0.19 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -8.47%. A quarter ago, it was expected that this entertainment, sport and content company would post earnings of $0.36 per share when it actually produced earnings of $0.89, delivering a surprise of 147.22%. Over the la ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40373 ENDEAVOR GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 83-3340169 (State or ...

Endeavor-owned TKO Group Holdings, the company formed from the merger last year of the UFC and the WWE, reported a 29% rise in revenue in the second quarter. Adjusted EBITDA, a gauge of profitability, increased 23% to $231.9 million. The revenue uptick to $394.4 million was mainly driven by a gain in media rights and content revenue, along with higher live events revenue thanks to an additional event occurring in the quarter. Sponsorship proceeds also improved in the period. The company's financials in the ...

SAN DIEGO, July 19, 2024 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX: EDVR) (the "Company," or "Bancorp"), the holding company for Endeavor Bank (the "Bank"), today reported net income of $760,000, or $0.18 per diluted share, for the second quarter of 2024, compared to net income of $407,000, or $0.10 per diluted share, for the first quarter of 2024, and $900,000, or $0.22 per diluted share, for the second quarter of 2023. Pretax net income was $1.1 million in the second quarter compared to $591,000 in the ...