FWONK — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• On December 15, 2025, the Company completed the split-off (the “Liberty Live Split-Off”) of its wholly owned subsidiary, Liberty Live Holdings. Liberty Live Holdings was comprised of the businesses, assets and liabilities attributed

• to the Liberty Live Group, a tracking stock group. Immediately prior to the Liberty Live Split-Off, QuintEvents, certain private assets and approximately $172 million of cash were reattributed from Liberty’s other tracking stock group, the Liberty Formula One Group (the “Formula One Group”), to the …

• On May 12, 2026, the Company effected the reincorporation of the Company to the State of Nevada by conversion, which was approved by the Company's stockholders in May 2026 (the “Reincorporation”).

• Operating income (loss). Our consolidated operating results decreased $192 million and $61 million for the three and six months ended June 30, 2026, respectively, as compared to the corresponding periods in the prior year, primarily driven by decreases in Formula 1’s operating results, partially off…

• Stock-based compensation. Stock-based compensation includes compensation related to options, stock appreciation rights, restricted stock units, performance-based restricted stock units and other stock-based awards granted to officers, employees, nonemployee directors and employees of our subsidiarie…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• On December 15, 2025, the Company completed the split-off (the “Liberty Live Split-Off”) of its wholly owned subsidiary, Liberty Live Holdings. Liberty Live Holdings was comprised of the businesses, assets and liabilities attributed to the Liberty Live Group, a tracking stock group. Immediately prio…

• Operating income (loss). Our consolidated operating results increased $131 million for the three months ended March 31, 2026, as compared to the corresponding period in the prior year, primarily driven by improvements in Formula 1’s

• operating results and corporate acquisition costs incurred during the prior year period, partially offset by operating losses from MotoGP, which was acquired in July 2025. See “Results of Operations—Businesses” below for a more complete discussion of the results of operations of Formula 1 and MotoGP…

• Stock-based compensation. Stock-based compensation includes compensation related to options, stock appreciation rights, restricted stock units, performance-based restricted stock units and other stock-based awards granted to officers, employees, nonemployee directors and employees of our subsidiarie…

• Acquisition costs. The Company recorded $11 million of costs related to the acquisition of MotoGP during the three months ended March 31, 2025.

Text added vs the prior filing · source: 10-Q · 2026-08-06

• MotoGP’s functional currency is the Euro. Fluctuations in the Euro / U.S. dollar exchange rate impact the amount of total assets, liabilities, earnings and cash flows for MotoGP included in our condensed consolidated financial statements for, and as of the end of, each reporting period. For example,…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• maturity, (ii) issuing variable rate debt with appropriate maturities and interest rates and (iii) entering into interest rate swap arrangements when we deem appropriate. As of March 31, 2026, our debt is comprised of the following amounts:

• MotoGP’s functional currency is the Euro. Fluctuations in the Euro / U.S. dollar exchange rate impact the amount of total assets, liabilities, earnings and cash flows for MotoGP included in our condensed consolidated financial statements for, and as of the end of, each reporting period. For example,…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• It may be difficult for a third party to acquire our Company, even if doing so may be beneficial to our stockholders.

• Certain provisions of our current articles of incorporation (the “Charter”) and bylaws may discourage, delay or prevent a change in control of our Company that a stockholder may consider favorable. These provisions include:

• ●authorizing a capital structure with multiple series of common stock: a Series B common stock that entitles the holders to ten votes per share, a Series A common stock that entitles the holder to one vote per share, and a Series C common stock that, except as otherwise required by Nevada law, entit…

• ●classifying the Board of Directors with staggered three-year terms, which may lengthen the time required to gain control of the Board of Directors;

• ●prohibiting stockholder action by written consent, thereby requiring all stockholder actions to be taken at a meeting of the stockholders;

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• Risks Relating to our Corporate History, Macroeconomic Conditions and Industry

• Weak and uncertain economic conditions may reduce consumer demand for products, services and events offered by our businesses.

• A weak or uncertain economy in the U.S. or globally could adversely affect demand for our products, services and events. A substantial portion of our revenue is affected by discretionary spending by individuals, which typically declines during times of economic recession or instability. A reduction …

• Events beyond Formula 1 or MotoGP’s control may cause one or more Events to be cancelled or postponed or prevent Formula 1 or MotoGP from providing an international television feed, each of which could result in the loss of revenue under Formula 1 or MotoGP’s respective commercial contracts.

• An Event may have to be postponed or cancelled, or Formula 1 or MotoGP may be unable to provide an international television feed of an Event, due to factors beyond their control, including an inability to transport Formula 1’s, MotoGP’s and the Teams’ equipment to an Event, power failures, natural d…