Basic earnings per share is calculated utilizing net income available to common stockholders of the Company during the three and six months ended June 30, 2026 and 2025, divided by the weighted average number of shares of TKO Class A common stock outstanding during the same period. Diluted earnings per share is calculated by dividing the net income available to common stockholders by the diluted weighted average shares outstanding during the same period. TKO Class B common shares are included in diluted earnings per share only for periods in which their effect is dilutive and are otherwise excluded as anti-dilutive.

On March 10, 2026, the Company entered into an ASR Agreement with Morgan Stanley & Co. LLC to repurchase $800.0 million of its Class A common stock. On March 11, 2026, the Company paid $800.0 million and received an initial delivery of 3,136,179 shares. The Company received final delivery of an additional 1,031,119 shares on July 1, 2026 based on the volume-weighted average price of TKO Class A common stock during the term of the ASR Agreement. The shares were retired upon receipt. Refer to Note 9, Stockholders' Equity for further information related to the ASR Agreement.

The following table presents the computation of basic and diluted net earnings per share and weighted average number of shares of the Company’s common stock outstanding for the periods presented (dollars in thousands, except share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator
Net income attributable to TKO Group Holdings, Inc.	$	101,575	$	98,365	$	190,926	$	156,773
Effect of dilutive securities:
Adjustment to net income attributable to TKO Group Holdings, Inc. from the assumed conversion of Class B shares		—		135,108		283,755		198,869
Net income attributable to TKO Group Holdings, Inc. used in computing diluted earnings per share	$	101,575	$	233,473	$	474,681	$	355,642

Denominator
Weighted average Class A Common Shares outstanding - Basic		74,797,769		81,757,675		76,054,642		81,664,928
Effect of dilutive securities:
Additional shares from RSUs and PSUs, as calculated using the treasury stock method		1,072,937		1,363,053		1,110,117		1,276,791
Additional shares from the assumed conversion of Class B shares		—		116,158,615		116,158,615		107,506,893
Weighted average number of shares used in computing diluted earnings per share		75,870,706		199,279,343		193,323,374		190,448,612

Basic earnings per share	$	1.36	$	1.20	$	2.51	$	1.92
Diluted earnings per share	$	1.34	$	1.17	$	2.46	$	1.87

Securities that are anti-dilutive this period
Unvested RSUs		21,266		608		11,751		1,375
TKO Class B Common Shares		116,158,615		—		—		—
ASR Agreement		1,031,119		—		1,031,119		—