Just before getting into the results, is anyone able to enlighten me as to what the actual market cap of the company is? CNBC and some other sources say $14B, while Marketwatch and Tradingview have it at $7B. Thanks.
# Financial Highlights
*These results cover the period from July 1, 2023 through September 30, 2023 for UFC and the period from September 12, 2023 through September 30, 2023 for WWE. (The figures in brackets are where I have added in the WWE results for the entire quarter).*
**• Revenue of $449.1m ($684.8m with full-quarter WWE figures)**
• Net income of $22.0m
**• Adjusted EBITDA1 of $239.7m ($298.2m with full-quarter WWE+corporate figures)**
* Cash flows generated by operating activities were $67.0 million, a decrease of $71.3 million from $138.3 million, primarily due to lower net income.
* Free Cash Flow2 was $63.6 million, a decrease of $72.5 million from $136.1 million, primarily due to the decrease in cash flows generated by operating activities.
* Cash and cash equivalents were $188.6 million as of September 30, 2023. Gross debt was $2.773 billion as of September 30, 2023
Third Quarter 2023 Operational Highlights and Recent Developments
• UFC held 13 events that consistently delivered strong viewership and attendance and set several all-time records for gross revenue at the respective arenas
• WWE entering into a five-year domestic media rights agreement with NBCUniversal for SmackDown beginning in October 2024
• WrestleMania 40, to be held at Lincoln Financial Field in Philadelphia in April 2024, sold more than
90,000 tickets in one day when it went on sale, breaking the record for all-time gate set at WrestleMania 39
• In October, UFC completed a multi-year sponsorship agreement, UFC’s biggest ever in the aggregate including cash and marketing assets, with AB InBev to become the exclusive “Official Global Beer Partner of UFC” effective January 1, 2024
• In October, UFC agreed to an expansion of its presence in the Middle East North Africa (MENA) region with the extension of its partnership with the Department of Culture and Tourism – Abu Dhabi to continue to host numbered events through 2028 and an agreement to bring up to 3 Fight Nights to the region annually, including its first event in Saudi Arabia in March 2024