Vivid Seats Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 results exceeded guidance, with strong app growth (GOV up 20% YoY, app share >40%) and sequential gains in private label revenue. Adjusted EBITDA rose to $9.5M, and cash increased to $144M. Outlook for 2026 is reaffirmed, with growth expected in the second half.
Fiscal Year 2025
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Q4 2025 saw significant declines in GOV and revenue due to industry headwinds and private label loss, but cost reductions and app-focused strategy are driving improved engagement and set the stage for a return to growth in 2026. Guidance for 2026 remains unchanged.
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Q3 saw significant year-over-year declines in GOV and revenue, but owned property and app segments showed sequential growth. Leadership transition, cost reductions, and a renewed focus on app-based value proposition underpin a cautious but stabilizing 2026 outlook.
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Q2 2025 saw sharp declines in GOV, revenue, and EBITDA amid industry-wide softness and intense competition. A $25M cost reduction program is underway, with international expansion outperforming expectations and a reverse stock split announced.
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Live events ticketing remains a strong, resilient sector, with international expansion showing early positive results and less competition. Technology investments in seller tools and loyalty programs drive differentiation, while the company focuses on sustainable growth amid rising marketing costs and competitive pressures.
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Q1 2025 saw double-digit declines in GOV, revenue, and EBITDA amid competitive and macro headwinds. Management suspended 2025 guidance, citing industry volatility and marketing channel disruptions, but remains focused on product investment, partnerships, and operational discipline.
Fiscal Year 2024
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2024 revenue grew 9% to $776M, with adjusted EBITDA up 7% to $151M, despite a challenging competitive environment and flat GOV. Strategic investments in loyalty, technology, and international expansion are expected to drive growth, with guidance for a return to top-line growth in H2 2025.
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A technology-driven ticket marketplace is seeing resilient demand, strong repeat order growth, and expanding international presence. Product innovation, loyalty programs, and strategic M&A drive differentiation and margin strength, with 2025 expected to bring a robust event calendar.
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Q3 2024 saw flat revenue and strong margins despite a 13% drop in GOV, mainly from concert supply headwinds. Strategic initiatives like Skybox Drive and Vegas.com synergies progressed, and 2025 is expected to bring concert growth and improved cash conversion.
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Live events show strong resilience, with growth in women's sports and soccer. Strategic acquisitions and product innovation drive engagement, while international expansion and a focus on profitability position the business for long-term growth.
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Q2 2024 saw 20% revenue and 42% Adjusted EBITDA growth, driven by strong order volume and improved take rates. Guidance for GOV and revenue was modestly lowered due to concert supply softness, but profitability outlook remains robust.
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Strong double-digit growth, high cash conversion, and expanding international presence define recent performance. Technology-driven marketplace, loyalty programs, and strategic acquisitions fuel customer retention and market reach. Growth is volume-driven, supported by experience economy trends.