A Letter from CEO Kim Stone

Dear Investors,

We are four matches into the season and positioned to break through this weekend as we travel to face Bay FC on Sunday at 5 PM ET on ESPN2. While our record stands at one loss and three draws, the underlying performance is strong, we have been competitive in every match and are building toward converting those results into wins starting this weekend.

The highlight of the opening stretch came on the road against expansion side Denver Summit in their home opener last weekend, played in front of a record-setting crowd of 63,004, the largest attendance in the history of U.S. professional women’s soccer. I was in the building, and it was a clear signal of how this league continues to build momentum.

What stood out was not just the crowd size, but the environment. Fans were tailgating outside Empower Field, home of the NFL Denver Broncos, hours before kickoff, creating a true big-event atmosphere. The match presentation felt closer to a Super Bowl than a typical regular-season game with sky divers delivering the match ball via parachute onto the pitch, emotional storytelling that captured the city’s pride in welcoming its first professional women’s team, and a full-scale anthem performance by a live symphony and choir, culminating in a precisely timed fighter jet flyover. It was a statement moment for the league and underscores the impact of Denver as a new market.

While results on the pitch are still coming together, the business continues to accelerate. Corporate partnerships are up 63% year over year, and ticketing revenue has increased 83% year over year, reinforcing the strength of our commercial strategy and demand for the Spirit.

Our Cherry Blossom jersey launch last month was the most successful in the NWSL across both engagement and sales. Six of our eight featured players ranked in the league’s top 10 in jersey sales during launch week, led by Trinity Rodman as the number one sold jersey in the league. This is a clear example of our ability to convert brand moments into measurable business outcomes.

We remain focused on translating that momentum fully onto the field while continuing to build a durable, high-performing organization across all areas of the business.

As always, you are invited to join us at a match this season. Thank you for your continued support and belief in what we are building.

Let’s Go Sprit!

Kim Stone
CEO, Washington Spirit

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