Loading...
01/11 13:54
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call summary and Q&A indicate positive sentiment overall. Strong financial performance is evident, with record-breaking revenue from the F1 movie and a growing fan base. The Vegas Grand Prix and media rights negotiations show promising financial outlooks. Despite some unclear responses, the strategic focus on partnerships, sponsorships, and market expansion suggests optimism. The combination of these factors, particularly the secured future revenue and optimistic guidance, supports a positive stock price prediction over the next two weeks.
Formula One Group attributed cash and liquid investments $3.1 billion, which includes $1.8 billion of cash at Formula One and $70 million of cash at Quint.
Formula One Group attributed principal amount of debt $2.9 billion at quarter end, which includes $2.4 billion of debt at the OpCo level, leaving $525 million at the corporate level.
F1's $500 million revolver undrawn.
Revenue growth year-to-date 14% increase, driven by sponsorship, race promotion, and media rights.
Adjusted OIBDA growth year-to-date 21% increase, with revenue growth outpacing increased expenses.
Team payments as a percentage of pre-team share adjusted OIBDA year-to-date 58.4% compared to 61.9% in the prior year period.
MotoGP Spanish GAAP revenue and EBITDA for the 6 months ended 6/30/25 EUR 220 million and EUR 75 million, respectively.
Attendance growth for MotoGP 6% increase year-over-year on a like-for-like race basis.
Social media followers for MotoGP Almost 60 million, growing 6% year-over-year.
Formula One attendance Nearly all events operating at capacity, with 12 of the past 14 races sold out and 6 races setting new attendance records.
Formula One live viewership in the U.S. Up 7% season-to-date compared to last year.
Formula One social media followers 106 million, growing over 20% year-over-year.
Formula One movie global box office sales Over $500 million in its first 5 weeks, becoming the highest-grossing Apple film to date.
Formula One's fan base Reached 826 million in 2024, with 43% under 35 and 42% female.
MotoGP acquisition: Liberty Media completed the acquisition of MotoGP on July 3, 2025. Near-term priorities include accelerating commercial functions like sponsorship and marketing, enhancing brand positioning, and collaborating with F1 for business initiatives. Medium-term goals include improving the Grand Prix experience, expanding global presence, and scaling sponsorship partners.
F1 movie: The F1 movie released in June 2025 achieved global box office sales of over $500 million in its first five weeks, becoming the highest-grossing Apple film to date.
Expansion of MotoGP: MotoGP plans to expand its global presence with new race locations, including Buenos Aires in 2027 and a return to Brazil in 2026. The U.S. is also targeted as a key growth market.
F1 race promotion: F1 renewed contracts for the Austrian Grand Prix through 2041 and the Canadian Grand Prix through 2035. Madrid will join the F1 calendar in 2026, while Zandvoort will exit after 2026.
F1 financial performance: F1 revenue grew 14% year-to-date, with adjusted OIBDA up 21%. Growth was driven by sponsorship, race promotion, and media rights.
MotoGP attendance and viewership: MotoGP attendance increased by 6% year-over-year, with record attendance at several circuits. Average TV viewership reached 38.2 million for the first 12 races.
Sustainability in F1: F1 achieved a 26% reduction in emissions in 2024 compared to its 2018 baseline, demonstrating sustainable growth despite an expanded global footprint.
Liberty Live split-off: Liberty Media is progressing with the planned split-off of Liberty Live, expected to complete in Q4 2025.
Supply Chain Disruptions: Higher freight costs due to the mix of routes flown and increased hospitality costs were noted, which could impact profitability.
Economic Uncertainties: The company is managing debt levels and refinancing MotoGP loans to reduce interest expenses, but high leverage ratios and currency exposure remain challenges.
Sponsorship and Advertising: MotoGP faces challenges in scaling sponsorship partners due to long sales cycles and reliance on endemic names, with unsold title sponsorships and vacant trackside advertising posing risks.
Market Expansion: Efforts to expand MotoGP's presence in the U.S. and other markets may take time to materialize, and there is a risk of slow adoption in new regions.
Regulatory and Contractual Risks: Renewals of race promotion and media rights contracts are ongoing, and any delays or unfavorable terms could impact revenue streams.
Strategic Execution Risks: The integration of MotoGP into Liberty Media's ecosystem and the execution of new strategic initiatives, such as enhancing fan experiences and scaling sponsorships, carry execution risks.
Planned Split-off of Liberty Live: Liberty Media expects to complete the split-off of Liberty Live in the fourth quarter of 2025.
MotoGP Growth Strategy: Liberty Media plans to accelerate the build-out of MotoGP's commercial functions, enhance brand positioning, and expand its global presence. Near-term objectives include developing sponsorship and marketing teams, improving fan insights, and collaborating with F1 for shared business initiatives. Medium-term priorities include enhancing the Grand Prix experience, expanding global reach, and scaling sponsorship partners. The U.S. is identified as a key growth market.
MotoGP Revenue and Engagement Growth: Liberty Media sees significant potential to scale MotoGP's business, with opportunities to increase revenue streams such as sponsorship and hospitality. They aim to leverage F1's monetization strategies to grow MotoGP's audience and financial metrics.
Formula One Growth and Expansion: Formula One plans to expand its global presence with new race locations, including Madrid in 2026 and Buenos Aires in 2027. The U.S. market is a focus for growth, with live viewership up 7% year-over-year. Media rights agreements are being finalized in several regions, and new sponsorships are being secured for 2026 and beyond.
Sustainability Goals: Formula One achieved a 26% reduction in emissions in 2024 compared to its 2018 baseline and aims to continue sustainable growth while expanding its global footprint.
Financial Projections for MotoGP: Liberty Media expects MotoGP to deleverage to a 3 to 4x range by the end of 2026. The second half of 2025 is expected to have a higher mix of profitable races, contributing to overall financial growth.
Las Vegas Grand Prix: Ticket sales for the Las Vegas Grand Prix are trending ahead of last year, with higher sell-through rates. Long-term procurement contracts are being secured to reduce future build-out costs.
The selected topic was not discussed during the call.
The earnings call summary and Q&A indicate positive sentiment overall. Strong financial performance is evident, with record-breaking revenue from the F1 movie and a growing fan base. The Vegas Grand Prix and media rights negotiations show promising financial outlooks. Despite some unclear responses, the strategic focus on partnerships, sponsorships, and market expansion suggests optimism. The combination of these factors, particularly the secured future revenue and optimistic guidance, supports a positive stock price prediction over the next two weeks.
The earnings call presents a mixed picture. While there are positive indicators such as an increase in F1 TV subscribers and a growing fan base, revenue declines in key areas like race promotion and media rights are concerning. The lack of a shareholder return plan and unchanged debt levels further contribute to a neutral sentiment. The Q&A session reveals optimism about future sponsorship growth and media rights but lacks clarity on certain issues, leading to uncertainty. Given these mixed factors, a neutral stock price reaction is likely over the next two weeks.
The earnings call shows strong financial performance with 15% revenue growth and improved OIBDA margins. However, concerns arise from a significant debt load, market volatility, and competitive pressures. The Q&A reveals uncertainties in sponsorship growth and media rights, further dampening sentiment. Despite optimistic guidance and strategic initiatives, these mixed signals suggest a neutral stock price movement over the next two weeks.
The earnings call summary reveals strong financial performance across various segments, with increased revenue and profitability. The Q&A section indicates sustained demand for F1 and positive sponsorship prospects. Despite high debt levels, the overall sentiment remains positive due to robust financial metrics and optimistic outlooks. The lack of negative guidance and continued market interest suggest a likely stock price increase.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
