StubHub Holdings Earnings Call Transcripts
Fiscal Year 2026
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The company leads the global secondary ticketing market, focusing on long-term growth, margin expansion, and product innovation. Open distribution and advertising present major future opportunities, while regulatory and pricing changes are being managed proactively. AI and data-driven strategies are expected to further enhance efficiency and customer experience.
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Q1 2026 saw 7% GMS growth to $2.2B, 12% revenue growth, and adjusted EBITDA margin up to 16%. International outpaced North America, cash flow was strong, and guidance for 2026 was reiterated. Investments in AI, distribution, and advertising continue to drive scale.
Fiscal Year 2025
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Delivered $9.2B GMS in 2025, up 6% year-over-year, with 50% North American market share and strong international growth. 2026 guidance targets 9% GMS growth and $400–$420M adjusted EBITDA, with continued focus on AI-driven product innovation and disciplined capital allocation.
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Q3 2025 saw 11% GMS growth to $2.4B and 8% revenue growth, with adjusted EBITDA up 21%. Market share gains continued, especially in North America, despite a 10% headwind from all-in pricing. Debt was reduced by 30% post-IPO, and new initiatives in direct issuance and advertising are ramping.