TKO Group Holdings and DoorDash announced a partnership that will embed DoorDash’s delivery and technology platforms into WWE and UFC fan experiences, creating new revenue and engagement opportunities for both companies.
TKO’s Q3 2025 results showed revenue of $1.120 billion, a 4.13% beat on analyst estimates, but earnings per share of $0.50 fell short of the $0.55 consensus. The miss was driven by higher operating expenses that offset the revenue growth. The revenue increase was largely powered by WWE, whose revenue rose 23% to $402.1 million and whose adjusted EBITDA margin expanded to 32% from 15% as live‑event and hospitality revenue jumped 61% to $83 million. UFC revenue declined by $29.7 million to $325.2 million, partially offsetting WWE’s gains. TKO raised its full‑year 2025 revenue guidance to $4.690 billion–$4.720 billion and adjusted EBITDA guidance to $1.570 billion–$1.580 billion, reflecting confidence in continued growth from its core sports‑entertainment segments.
DoorDash’s Q3 2025 results delivered a 27% year‑over‑year revenue increase to $3.4 billion, driven by 776 million total orders and a marketplace gross order value of $25 billion. GAAP net income rose to $244 million and adjusted EBITDA reached $754 million, with an adjusted EBITDA margin of 3.0% of marketplace GOV, up from 2.7% in Q3 2024. Earnings per share of $0.55 missed the $0.68 consensus, largely due to higher marketing and cost‑of‑goods‑sold expenses. DoorDash guided 2026 marketplace GOV to $28.9 billion–$29.5 billion, underscoring its focus on AI‑native technology and global expansion following the October 2 acquisition of Deliveroo.
The partnership gives DoorDash access to TKO’s global audience of more than 1 billion fans across 210+ countries, 49% of whom are aged 18‑34. TKO will leverage DoorDash’s logistics and data capabilities to enhance fan experiences, creating new revenue streams such as on‑site delivery of food, merchandise, and exclusive content. DoorDash will have a presence at live events, collaborate on original content featuring WWE superstars and UFC athletes, and serve as presenting partner for a future WWE Premium Live Event and a 2026 UFC numbered event.
Fan‑engagement specifics include custom integrations and promotional activations at high‑profile live events and broadcasts, enabling fans to order food, merchandise, and exclusive experiences on the spot while generating data insights for both companies. The collaboration aligns with TKO’s consumer‑centric strategy and DoorDash’s expansion beyond restaurant delivery into entertainment and retail verticals.
Management commentary highlighted the strength of WWE’s live‑event model, with the CFO noting a 61% increase in live‑events and hospitality revenue. DoorDash’s CEO emphasized the company’s AI‑native technology and global expansion, signaling confidence in scaling the platform and monetizing new verticals.
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