Endeavor Reports $1.2 Billion Loss Over Last 2 Years

Sean Burch
·2-min read

Endeavor on Wednesday revealed it lost nearly $1.2 billion in the last two years, according to a new filing with the SEC, as it looks to go public for the second time in three years.

The powerhouse agency lost $625.3 million last year as several industries it focuses on, including sports and entertainment, were hit hard by the coronavirus pandemic. But Endeavor had a rough year in 2019, too, with the firm posting a net loss of $530.7 million, bringing its two-year loss to $1.156 billion. The firm’s losses increased nearly 18% from 2019 to 2020.

As for money coming in, Endeavor reported revenue of $3.5 billion in 2020 and $4.6 billion the year prior.

“As challenging a year as 2020 was, it underscored the strength, creativity, and resilience of our people who mobilized time and time again in the face of overwhelming odds. We made difficult decisions but worked as a team to find creative solutions and best position the business for the future,” Endeavor CEO Ari Emanuel said in a letter that accompanied the filing.

This is the second time Endeavor is attempting to go public. In 2019, Endeavor Group Holdings — the company’s intended brand for the New York Stock Exchange — pulled its initial public offering one day before shares of the company were expected to begin trading in the public market.

In its SEC filing, Endeavor also said it would buy out the remaining stake in the UFC, giving the company 100% control over the mixed-martial arts league.

For more details on Endeavor’s latest filing, including Elon Musk joining its board of directors, click here.

Tim Baysinger contributed to this report.

Read original story Endeavor Reports $1.2 Billion Loss Over Last 2 Years At TheWrap