Group 1 - The article promotes a free two-week trial for the investment group Distressed Value Investing, which offers exclusive research on various companies and investment opportunities [1] - The investment group focuses on value opportunities and distressed plays, particularly in the energy sector [2] - The author, Aaron Chow, has over 15 years of analytical experience and previously co-founded a mobile gaming company that was acquired by PENN Entertainment [2] Group 2 - The article emphasizes that past performance is not indicative of future results and does not provide specific investment recommendations [3] - It clarifies that the analysts contributing to the platform may not be licensed or certified by any regulatory body [3]

Core Viewpoint - Endeavour Silver Corp. reported a significant decrease in silver and gold production for the fourth quarter of 2024, primarily due to operational disruptions caused by a trunnion failure at the Guanaceva plant, although production resumed to full capacity in December 2024 [1][2][5]. Production Overview - Full year 2024 production totaled 4,471,824 silver ounces and 39,047 gold ounces, equating to 7.6 million silver equivalent ounces [1]. - Fourth quarter production was 824,529 silver ounces and 9,075 gold ounces, resulting in 1.6 million silver equivalent ounces [1]. Operational Challenges - The Guanaceva plant operated at reduced capacity for 15 weeks due to a trunnion failure, averaging 620 tonnes per day, before resuming full capacity of 1,200 tonnes per day in December [2][4]. - The total cost for the fabrication and installation of the new trunnion was US$400,000 [4]. Production Metrics - Consolidated silver production decreased by 41% in Q4 2024 compared to Q4 2023, while gold production decreased by 6% [5]. - The throughput for Q4 2024 was 165,591 tonnes, down 25% from the previous year, with total annual throughput at 781,439 tonnes, an 11% decrease [7]. Mine-Specific Performance - Guanaceva produced 718,797 silver ounces and 2,622 gold ounces in Q4 2024, while Bolañitos produced 105,732 silver ounces and 6,453 gold ounces [9]. - For the full year, Guanaceva produced 4,019,197 silver ounces and 13,817 gold ounces, while Bolañitos produced 452,627 silver ounces and 25,230 gold ounces [10]. Financial Highlights - The company sold 654,519 silver ounces and 8,343 gold ounces during Q4 2024, with year-end inventories of 276,477 silver ounces and 1,220 gold ounces in bullion, plus additional concentrate inventories [8]. - Endeavour Silver Corp. announced a bought deal financing of US$73 million to support general working capital and the advancement of the Pitarrilla Project [8]. Future Outlook - The company plans to release its annual 2024 financial results on March 11, 2025, followed by a conference call to discuss the results [13].

Industry Overview - The popularity of mixed martial arts (MMA) and combat sports is increasing due to a growing public awareness of healthy living, leading to higher adoption rates and sales of MMA-related gear [1][2] - The global MMA equipment market was valued at USD 1.43 billion in 2023 and is projected to reach USD 2.15 billion by 2032, growing at a CAGR of 4.65% from 2024 to 2032 [1][2] Company Developments - Mixed Martial Arts Group Limited (MMA.inc) is expanding its collaborative programs with UFC Gym, targeting USD 7 million in annual revenue across over 150 locations [2][4] - The new programs aim to make MMA training accessible to fans and beginners, with a rollout beginning in February 2025 across Southern California [3][4] - The partnership with UFC Gym is designed to bridge the gap between MMA fandom and active participation, promoting physical fitness and community connection [5] Market Trends - Leading MMA equipment companies are innovating with various types, materials, and designs to meet the evolving needs of athletes, resulting in increased demand for high-quality gear [2] - The rise in MMA gyms and training centers is further fueling demand for equipment such as punching bags, training pads, and gloves [2] Financial Highlights - MMA.inc's expansion plans are expected to significantly impact revenue, with projections of USD 7 million from running 150 programs globally [4] - TKO Group Holdings, which includes UFC, has partnered with IBM to enhance the viewing experience for UFC fans through AI and data technologies [6]

Core Insights - Viper Energy (NASDAQ: VNOM) has recently reported its third quarter results, which included the completion of a significant acquisition of royalty interests [2] Group 1: Company Performance - The third quarter results reflect the company's ongoing strategy to expand its royalty interests, which is crucial for its growth in the oil and gas sector [2] - The company operates in a cyclical industry characterized by boom and bust cycles, necessitating patience and experience for successful investment [2] Group 2: Analyst Perspective - The analysis of Viper Energy includes a comprehensive breakdown of its balance sheet, competitive position, and development prospects, aimed at identifying undervalued opportunities in the oil and gas space [1] - The insights provided are part of a service that offers detailed analysis to members, indicating a focus on delivering value through in-depth research [1]

Core Insights - Endeavor Group reported revenue of $2.03 billion for the quarter ended September 2024, reflecting a 51.1% increase year-over-year, but fell short of the Zacks Consensus Estimate of $2.13 billion by -4.69% [1] - The company's EPS was $0.17, a significant decline from $0.48 in the same quarter last year, resulting in an EPS surprise of -72.58% against the consensus estimate of $0.62 [1] Revenue Performance - Revenue from Owned Sports Properties reached $735.21 million, exceeding the average estimate of $704.35 million, marking a year-over-year increase of +53.3% [3] - Revenue from Eliminations was reported at -$32.38 million, worse than the estimated -$15.89 million, representing a +151.4% change year-over-year [3] - Revenue from Representation was $429.21 million, slightly below the average estimate of $441.04 million, with a year-over-year increase of +11.3% [3] - Revenue from Events, Experiences & Rights was $899.76 million, falling short of the average estimate of $998.23 million, but still showing a +145.1% increase year-over-year [3] Adjusted EBITDA Analysis - Adjusted EBITDA for Corporate was reported at -$94.82 million, slightly worse than the average estimate of -$92.82 million [3] - Adjusted EBITDA for Representation was $124.92 million, below the estimated $132.34 million [3] - Adjusted EBITDA for Events, Experiences & Rights was -$67.97 million, significantly lower than the average estimate of $182.60 million [3] - Adjusted EBITDA for Owned Sports Properties was $315.47 million, nearly in line with the average estimate of $315.62 million [3] Stock Performance - Endeavor's shares have returned -0.7% over the past month, contrasting with the Zacks S&P 500 composite's +3.2% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

Endeavor Group (EDR) came out with quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.48 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -72.58%. A quarter ago, it was expected that this entertainment, sport and content company would post earnings of $0.59 per share when it actually produced earnings of $0.54, delivering a surprise of -8.47%.Over the ...

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