Report reveals best bucket list music festivals with ticket buying tips for fansCHICAGO, April 10, 2025 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ: SEAT), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today released its Trending Music Festival Guide for the 2025 music festival season. The report analyzes Vivid Seats’ ticket data to find the music festivals with the most buzz this ...

Core Insights - Vivid Seats Inc. reported Q4 earnings on March 12, showing expected performance with slightly better-than-expected monetization [1] Financial Performance - The online ticket marketplace operator demonstrated an expected performance in Q4, indicating stability in its operations [1] Investment Philosophy - The investment philosophy focuses on identifying mispriced securities by understanding the drivers behind a company's financials, often revealed through a DCF model valuation [1]

Q4 2024 Financial Results March 12, 2025 (Nasdaq: SEAT) Agenda 01 Business Highlights & Updates Stan Chia, Chief Executive Officer 02 Financial Results & Outlook Lawrence Fey, Chief Financial Officer This presentation contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "can," "continue," "could," "design," "estimate," "expect," "forecast," "future," "goal," "intend," "lik ...

Core Viewpoint - Vivid Seats Inc. has re-issued its financial results for the full year and fourth quarter of 2024 to correct cash flow statements, indicating ongoing adjustments in financial reporting practices [1] Company Performance - In 2024, Vivid Seats reported a Marketplace Gross Order Value (GOV) of $3.89 billion, a decrease of 1% from $3.92 billion in 2023 [5] - Revenues for 2024 were $775.6 million, reflecting a 9% increase from $712.9 million in 2023 [5] - The net income for 2024 was $14.3 million, down 87% from $113.1 million in 2023 [5] - Adjusted EBITDA for 2024 was $151.4 million, up 7% from $142.0 million in 2023 [5] Quarterly Performance - For Q4 2024, Marketplace GOV was $994.4 million, down 11% from $1.11 billion in Q4 2023 [5] - Revenues in Q4 2024 were $199.8 million, a slight increase of 1% from $198.3 million in Q4 2023 [5] - The net loss for Q4 2024 was $4.4 million, compared to a net income of $28.5 million in Q4 2023 [5] Operational Insights - The company experienced a significant increase in event cancellations, with 43,019 cancellations in Q4 2024 compared to 21,044 in Q4 2023 [11] - The total number of event cancellations for the year ended December 31, 2024, was 222,472, up from 99,078 in 2023 [11] Future Outlook - Vivid Seats anticipates Marketplace GOV, revenues, and adjusted EBITDA for 2025 to be in the range of $3.7 to $4.1 billion, $730 million to $810 million, and $110 million to $150 million, respectively [7] - The company expects a return to top-line growth in the second half of 2025 as it begins to lap easier comparisons from the previous year [3] Strategic Initiatives - The CEO highlighted the company's focus on international growth, particularly with the launch in Europe, and emphasized the importance of partnerships, including a new collaboration with United Airlines [2]

Core Viewpoint - Vivid Seats Inc. is conducting its fourth quarter and full year 2024 earnings conference call, highlighting its financial performance and future outlook [1][2]. Group 1: Company Overview - Vivid Seats is represented by key executives including Stan Chia (CEO) and Larry Fey (CFO) during the earnings call [2]. - The earnings press release and supplemental slides are accessible on the company's Investor Relations website [3]. Group 2: Financial Metrics - The call will discuss adjusted EBITDA, cash generation, and last 12 months net leverage, which are non-GAAP financial measures providing valuable insights for investors [5].

Financial Data and Key Metrics Changes - In Q4 2024, the company reported revenues of $200 million, a 1% increase year-over-year, and adjusted EBITDA of $33 million, a 5% decrease year-over-year [7][26] - For the full year 2024, revenues reached $776 million, a 9% increase year-over-year, while adjusted EBITDA was $151 million, a 7% increase year-over-year [7][26] - The company ended Q4 2024 with $243 million in unrestricted cash, having increased its cash balance by $41 million during the quarter [26] Business Line Data and Key Metrics Changes - Marketplace Gross Order Value (GOV) for Q4 2024 was $994 million, down 11% year-over-year, driven by a 12% reduction in total marketplace orders, although average order size increased by 2% [24] - For the full year 2024, marketplace GOV was approximately flat at $3.9 billion, with a 6% increase in total marketplace orders offset by a 6% decrease in average order size [24] Market Data and Key Metrics Changes - The company noted a mixed outlook for concert supply in North America, with early 2025 showing solid double-digit year-over-year concert growth that turned neutral to negative recently [41] - The competitive landscape remains intense, with the company expecting to return to top-line growth in the second half of 2025 after navigating challenging comparisons in the first half [21][28] Company Strategy and Development Direction - The company is focused on long-term growth opportunities in the live events sector, emphasizing investments in technology and marketing to enhance its platform [22][31] - Strategic partnerships, such as with United Airlines, are aimed at leveraging existing infrastructure to tap into new audiences and enhance customer engagement [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term tailwinds driving North American live events, despite a muted market backdrop in 2024 compared to the extraordinary growth of 2022 and 2023 [6][8] - The company anticipates a return to growth in the second half of 2025, supported by easier comparisons and new partnerships [28][86] Other Important Information - The company has launched its European expansion and is optimistic about scaling operations in international markets [15][55] - The implementation of the STC's new junk fee rule is viewed positively, as it promotes consumer transparency [59] Q&A Session Summary Question: Can you provide context on international expansion and its impact on EBITDA? - Management confirmed the launch in the UK and expressed optimism about expanding into other European countries, with a focus on achieving scale before prioritizing profits [36][37] Question: What is the outlook for concert supply in North America? - Management noted a mixed outlook, with early 2025 showing strong growth that has recently turned neutral to negative [41] Question: How will the company maintain market share amidst competitive pressures? - The company plans to focus on enhancing user engagement through its loyalty program and other initiatives, rather than competing solely on price [48] Question: What are the key investment priorities for scaling new international markets? - The focus is on ramping up supply in existing markets and leveraging relationships with local sellers to fuel growth [55] Question: How does the company view the impact of macroeconomic factors on live events? - Management indicated that live events have historically been resilient, but acknowledged potential softness in certain segments, particularly in the Vegas market [78] Question: Can you elaborate on the financial opportunity from Skybox Drive? - The potential revenue opportunity from Skybox Drive is estimated at around $10 million annually, though capturing the entire market is unlikely [68] Question: What is the company's stance on share buybacks and M&A? - Management reiterated that share buybacks are a core part of their capital allocation strategy, but they remain cautious about pursuing M&A in the near term [103]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number: 001-40926 Vivid Seats Inc. (Exact name of registrant as specified in its charter) Delaware 86-3355184 (State or othe ...

Financial Performance - Marketplace Gross Order Value (GOV) for 2024 was $3,892.6 million, down 1% from $3,920.5 million in 2023[5] - Revenues for 2024 reached $775.6 million, an increase of 9% from $712.9 million in 2023[5] - Net income for 2024 was $14.3 million, a decrease of 87% from $113.1 million in 2023[5] - Adjusted EBITDA for 2024 was $151.4 million, up 7% from $142.0 million in 2023[5] - Revenues for Q4 2024 were $199.8 million, a slight increase of 1% from $198.3 million in Q4 2023[5] - Revenues for the three months ended December 31, 2024, were $199,813 thousand, a slight increase from $198,303 thousand in the same period of 2023, while total revenues for the year ended December 31, 2024, reached $775,586 thousand, up from $712,879 thousand in 2023, representing a year-over-year growth of approximately 8.8%[19] - Adjusted EBITDA for the year ended December 31, 2024, was $151,419 thousand, compared to $141,982 thousand in 2023, reflecting an increase of approximately 6.5%[25] Future Projections - The company anticipates Marketplace GOV for 2025 to be in the range of $3.7 to $4.1 billion[14] - Expected revenues for 2025 are projected to be between $730.0 million and $810.0 million[14] - Adjusted EBITDA for 2025 is forecasted to be in the range of $110.0 to $150.0 million[14] Cancellations and Events - The company experienced 222,472 event cancellations in 2024, compared to 99,078 in 2023, indicating a significant increase in cancellations[7] Costs and Expenses - Total costs and expenses for the three months ended December 31, 2024, were $196,911 thousand, compared to $188,207 thousand in the same period of 2023, indicating an increase of about 4.5%[19] - Marketing and selling expenses for the year ended December 31, 2024, totaled $285,146 thousand, up from $274,096 thousand in 2023, marking an increase of approximately 4.3%[19] - Depreciation and amortization expenses for the year ended December 31, 2024, were $44,238 thousand, significantly higher than $17,178 thousand in 2023, reflecting a year-over-year increase of about 157.5%[19] - Interest expense for the year ended December 31, 2024, was $23,172 thousand, compared to $13,505 thousand in 2023, representing an increase of approximately 71.9%[19] Cash Flow - Cash provided by operating activities for the year ended December 31, 2024, was $53,922 thousand, down from $147,320 thousand in 2023, indicating a decrease of about 63.4%[21] - The company reported a net cash increase of $112,214 thousand for the year ended December 31, 2024, compared to a decrease of $119,856 thousand in 2023[21] Strategic Focus - The company plans to continue focusing on strategic investments and acquisitions to enhance its market position and operational efficiency[25]

Core Insights - Vivid Seats Inc. reported its financial results for the full year and fourth quarter ended December 31, 2024, highlighting a mixed performance with a decline in Marketplace Gross Order Value (GOV) but an increase in revenues and adjusted EBITDA [1][5]. Financial Performance - For the full year 2024, Marketplace GOV was $3,892.6 million, down 1% from $3,920.5 million in 2023 [5]. - Revenues for 2024 increased by 9% to $775.6 million from $712.9 million in 2023 [5]. - Adjusted EBITDA rose by 7% to $151.4 million compared to $142.0 million in 2023 [5]. - Net income for 2024 was $14.3 million, a significant decrease of 87% from $113.1 million in 2023 [5]. Fourth Quarter Highlights - In Q4 2024, Marketplace GOV was $994.4 million, down 11% from $1,112.3 million in Q4 2023 [5]. - Revenues for Q4 2024 were $199.8 million, a slight increase of 1% from $198.3 million in Q4 2023 [5]. - The company reported a net loss of $4.4 million in Q4 2024, compared to a net income of $28.5 million in Q4 2023 [5]. Operational Metrics - The number of Marketplace orders for the full year 2024 was 11,556, up from 10,898 in 2023 [4]. - The number of event cancellations increased significantly, with 222,472 cancellations in 2024 compared to 99,078 in 2023, impacting Marketplace GOV [10]. Strategic Initiatives - The company is focusing on international growth, having initiated its European launch, and is optimistic about long-term trends in the North American live events market [2]. - Vivid Seats is enhancing its technology platform with innovations like Game Center and Skybox Drive to improve seller functionality and marketplace efficiency [2]. 2025 Financial Outlook - For 2025, Vivid Seats anticipates Marketplace GOV in the range of $3.7 to $4.1 billion, revenues between $730.0 to $810.0 million, and adjusted EBITDA between $110.0 to $150.0 million [6].

Core Insights - Vivid Seats Inc. released its 2025 MLB Fan Loyalty Report, highlighting fan dedication and ticket demand trends for the upcoming MLB season [1][2] Ticket Demand and Pricing - Approximately 32% of Americans are eager to attend an MLB game in person this year, indicating strong interest [2] - The average price of MLB regular-season tickets has increased year-over-year, reflecting a growing demand for in-person attendance [2] Trending Teams and Games - The Los Angeles Dodgers are identified as the top trending team for ticket prices in the 2025 season, with their Opening Day game against the Detroit Tigers being the second hottest ticket [3][5] - The Detroit Tigers experienced a 29% increase in average ticket price compared to the previous season, showcasing their rising popularity [3][5] Fan Loyalty and Travel Patterns - The Los Angeles Dodgers have a dedicated fanbase, with 42% of fans attending games on the road, followed closely by the New York Yankees at 41% [4][12] - Fans are traveling an average of over 890 miles to attend games at Fenway Park for the Boston Red Sox, indicating strong support for the team [4][12] Most Traveled to Ballparks - The Atlanta Braves have the most widespread fanbase, covering 480 counties primarily in Southern States [6][12] - The average distances fans travel to attend games are significant, with the Boston Red Sox leading at 892 miles [12] Engagement and Promotions - Vivid Seats is promoting its app, which offers rewards for ticket purchases and features a trivia game for fans to earn discounts and enter drawings for free tickets [7][8]