Core Insights - Datavault AI Inc. has entered into a software licensing agreement with the World Boxing Council (WBC) to utilize its patented technologies at WBC championship events through 2025 and 2026 [1][10] Group 1: Partnership Details - The agreement allows Datavault to implement its ADIO® ultrasonic engagement technology, DataVault®, VerifyU™, and Information Data Exchange (IDE) platform at WBC events [1] - Revenue generated from event-driven activations will be shared equally between Datavault and WBC on a 50/50 basis [3] Group 2: WBC Overview - The WBC is a prominent sanctioning body in professional boxing, overseeing events in over 170 countries and establishing global standards for fighter safety and competition integrity [2][12] - Recent championship fights, such as Canelo Álvarez vs. Terence Crawford, have attracted significant viewership, with 41 million viewers reported for the latter event [5] Group 3: Data Monetization Potential - Datavault's technology enables the capture of authenticated audience interactions across various channels, creating compliance-ready datasets for sponsors and rights-holders [4][6] - For example, if 10% of 40 million viewers engage through Datavault's technology, it could result in approximately 4 million authenticated interactions, potentially generating multi-million-dollar datasets for future campaigns [8] Group 4: Management Commentary - WBC President Mauricio Sulaimán expressed enthusiasm for integrating Datavault's technology to enhance audience engagement and create new value for fans and partners [11] - Datavault CEO Nathaniel Bradley highlighted the partnership's alignment with the company's mission to transform audience participation into high-integrity data assets with measurable commercial value [11]

Financial Data and Key Metrics Changes - TKO generated revenue of $1.12 billion in Q3 2025, with adjusted EBITDA of $360 million, resulting in an adjusted EBITDA margin of 32% [11][12] - Year-over-year revenue decreased by 27%, while adjusted EBITDA increased by 59%, and adjusted EBITDA margin improved from 15% in the prior year [12] - Free cash flow for the quarter was $399 million, with a conversion rate of 111% [22][23] Business Line Data and Key Metrics Changes - UFC segment revenue was $325 million, down 8%, with adjusted EBITDA of $166 million, a decrease of 15% [13][15] - WWE segment revenue increased by 23% to $402 million, with adjusted EBITDA rising by 19% to $208 million [15][16] - IMG segment revenue decreased by 59% to $337 million, but adjusted EBITDA improved significantly from negative $7 million to $61 million [18][19] Market Data and Key Metrics Changes - UFC's media rights production and content revenue decreased by 7% to $201 million, while WWE's media rights production and content revenue increased by 9% to $249 million [13][17] - WWE's live events revenue surged by 61% to $83 million, driven by higher ticket sales and site fees [16][17] - PBR's broadcast drew an average of 2.7 million viewers, the largest audience since joining CBS in 2012 [9] Company Strategy and Development Direction - TKO is focused on maximizing shareholder value through strong performance across all business segments and capitalizing on new growth opportunities [10][25] - The company aims to enhance its competitive position in boxing with the launch of Zuffa Boxing and significant media rights agreements [5][31] - TKO plans to leverage its media rights deals to secure high-margin revenue streams and expand its global partnerships [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's momentum, citing strong demand for premium sports content and experiences [4][10] - The company raised its full-year 2025 guidance for revenue and adjusted EBITDA for the third consecutive quarter, targeting revenue of $4.69 billion to $4.72 billion [25][26] - Management highlighted the importance of international market expansion and monetization opportunities as key growth drivers [36][37] Other Important Information - TKO announced a $1 billion stock buyback program and doubled its quarterly cash dividend [4][23] - The company ended the quarter with $3.759 billion in debt and $861 million in cash and cash equivalents [24] Q&A Session Summary Question: Why was Paramount chosen as the partner for LATAM and Australia? - Management emphasized the execution story and the importance of maximizing media rights opportunities, noting that Paramount offered the best overall deal [33][34][37] Question: What is the outlook for WWE live events revenue? - Management indicated that both premium live events and weekly events are contributing to revenue growth, with high capacity and appropriate pricing strategies [38][39] Question: How will the distribution model with Paramount affect international markets? - Management clarified that while some markets will retain pay-per-view models, the focus will be on maximizing reach through subscription-based offerings [40][41] Question: What are the plans for boxing beyond the Zuffa Boxing initiative? - Management expressed a strong appetite for super fights and emphasized the potential for high-margin revenue through promotional and management fees [45][46] Question: How significant will site fees be for revenue in 2026? - Management highlighted the strategic focus on securing site fees and the potential for significant revenue growth from upcoming events, particularly in Saudi Arabia [52][54]