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Representation segment revenue was $385.6 million for the quarter, down $2.7 million, or 0.7%,
compared to the third quarter of 2022. Segment revenue was impacted by the WGA and SAG-AFTRA strikes, partially offset by the music and sports verticals at WME, the delivery of projects in Endeavors
nonscripted content production business, as well as increases at 160over90, including the acquisition of XYZ, a London-based experiential marketing agency. Adjusted EBITDA was $96.3 million for the quarter, down $36.6 million, or 27.5%,
compared to the third quarter of 2022. |
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Sports Data & Technology segment revenue was $124.8 million, up
$78.1 million, or 167.2%, compared to the third quarter of 2022. Growth was driven by the inclusion of OpenBet, which we acquired in September 2022, as well as growth at IMG ARENA. The segments Adjusted EBITDA was $24 million for the
quarter, up $19.8 million, or 476.5%, year-over-year. |
Balance Sheet and Liquidity
At September 30, 2023, cash and cash equivalents totaled $1.338 billion compared to $1.616 billion at June 30, 2023. Total debt was
$5.046 billion at September 30, 2023, compared to $5.110 billion at June 30, 2023.
For further information regarding the
Companys financial results, as well as certain non-GAAP financial measures, and the reconciliations thereof, please refer to the following pages of this release or visit the Companys Investor
Relations site at investor.endeavorco.com.
Webcast Details
Endeavor will host an audio webcast to discuss its results and provide a business update at 5 a.m. PT / 8 a.m. ET Wednesday, November 8. The event can be
accessed at: https://events.q4inc.com/attendee/398127204
The link to the webcast, as well as a recording, will also be available within the
News/Events section of investor.endeavorco.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such
forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including the Companys initiatives to create stockholder value and the timing of completion of repurchases
under its share repurchase program. The words believe, may, will, estimate, potential, continue, anticipate, intend, expect,
could, would, project, plan, target, and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions.
These forward-looking statements are based on managements current expectations. These statements are neither promises nor guarantees and involve known and unknown risks, uncertainties and other important factors that may cause actual results,
performance or achievements to be materially different from what is expressed or implied by the forward-looking statements, including, but not limited to: changes in public and consumer tastes and preferences and industry trends; Endeavors
ability to adapt to or manage new content distribution platforms or changes in consumer behavior; Endeavors dependence on the relationships of its management, agents, and other key personnel with clients; impacts from labor
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