Vivid Seats (SEAT) FY Conference June 04, 2025 10:20 AM ET Speaker0 Excited to have Vivint Seat's CEO, Stan, and CFO, Larry, back to present. I see my compliance officer here, so I have to tell you to view our website for all disclosures. How'd I do? Good? Alright. So Vivint Seat's a high level, is an online marketplace for secondary tickets primarily outside of their Vegas.com platform, which I'm sure Stan and Larry will talk about. We're gonna do a little bit of hybrid format here. We're going to do an ov ...

Core Insights - The WNBA is experiencing a significant rise in fan interest and ticket demand, with a 49% year-over-year increase in average ticket prices, indicating a growing relevance and reach for women's basketball [2][3] Ticket Demand and Pricing - The average ticket price for WNBA games has increased by 49% year-over-year, reflecting heightened demand for women's basketball [2] - The most in-demand tickets for the 2025 season include the WNBA All Star Game priced at $533, followed by the Indiana Fever's game against the Golden State Valkyries at $519 [5][7] Fan Engagement and Travel - Fans are traveling an average of 346 miles to attend WNBA games, which is a 12% increase compared to the previous year [3] - The Las Vegas Aces lead the league in average travel distance, with fans traveling an impressive 578 miles to see them play [10][14] Team Popularity - The Indiana Fever have emerged as the most favored team in the U.S., dominating in 13 states, followed by the Las Vegas Aces in 8 states and the Connecticut Sun in 6 states [6][8] - The Indiana Fever are featured in four of the top five most in-demand games for the 2025 season, highlighting their strong fan engagement [4][6] Impact of New Talent - The Dallas Wings experienced a 920% spike in website traffic after winning the 2025 WNBA Draft Lottery and selecting Paige Bueckers as the No. 1 overall pick, indicating a significant boost in fan interest [9] - The average ticket prices for Dallas Wings games have increased by 74% year-over-year, showcasing the impact of new talent on franchise popularity [9]

Financial Data and Key Metrics Changes - In Q1 2025, the company reported $820 million in Marketplace Gross Order Value (GOV), a decrease of 20% year-over-year [13] - Total revenues for Q1 were $164 million, down 14% year-over-year, with owned property revenues also declining by 14% and private label revenues down 27% [13] - Adjusted EBITDA for Q1 was $22 million, a significant drop from $39 million in the prior year, attributed to lower volume and higher marketing expenses as a percentage of revenue [14] Business Line Data and Key Metrics Changes - Marketplace orders decreased by 20% compared to Q1 2024, while the average order size remained flat year-over-year [13] - The marketplace take rate increased to 16.3%, up 70 basis points from 15.6% in Q1 2024, with expectations for near-term take rates to be in the range of 15.5% to 16% [14] Market Data and Key Metrics Changes - The company noted robust competitive intensity and softening industry trends amid consumer uncertainty, impacting how artists and rights holders approach the market [6] - The concert landscape has shown volatility, with year-over-year volume trends fluctuating significantly, while sports events have seen a decline due to tough comparisons from previous years [35] Company Strategy and Development Direction - The company is focused on cost discipline while making strategic investments in marketing and technology to enhance product development and customer experience [7] - Plans for international expansion are underway, with a focus on building out capabilities and scaling the platform in favorable markets [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term resilience of the industry despite current economic pressures, emphasizing the importance of live experiences over goods [6] - The company has suspended guidance for the remainder of 2025 due to increased variability in the global economy and potential consumer softness [15] Other Important Information - The company repurchased $7 million worth of shares at an average price of $2.89 during the quarter [15] - The company is committed to its Corporate Responsibility and Governance Strategy, highlighting progress in sustainability goals [11] Q&A Session Summary Question: Can you elaborate on the performance marketing changes and competitive intensity? - Management noted changes in the Google channel affecting data reporting, leading to increased bidding and decreased efficiency across the industry [19][20] Question: Have you seen any changes in industry expectations? - Management indicated a softening in expectations due to broader economic conditions, despite some bounce-back in April [25] Question: Are artists delaying tours due to macro uncertainty? - Management acknowledged volatility in the industry, with a seasonal low in market activity observed [28] Question: What are your thoughts on cash conversion to EBITDA and capital allocation? - Management expects limited cash generation for the year due to declining EBITDA and working capital pressures [37] Question: How do you view market share dynamics in a flat to down industry? - Management indicated that GOV being down 20% could reflect share impact, primarily from performance marketing channels [42] Question: What is the impact of regulatory changes on the industry? - Management supports regulations aimed at transparency and believes their lean cost structure positions them favorably [62] Question: How is the company addressing marketing channel mix? - Management is focusing on diversifying away from competitively pressured channels and leveraging partnerships to drive growth [70]

Financial Data and Key Metrics Changes - In Q1 2025, the company reported $820 million in Marketplace Gross Order Value (GOV), a decrease of 20% year-over-year [12] - Total revenues for Q1 were $164 million, down 14% year-over-year [12] - Adjusted EBITDA for Q1 was $22 million, down from $39 million in the prior year [13] - The marketplace take rate increased to 16.3%, up 70 basis points from 15.6% in Q1 2024 [12] Business Line Data and Key Metrics Changes - Owned property revenues decreased by 14%, while private label revenues declined by 27% [12] - Marketplace orders were down 20% compared to Q1 2024, with average order size remaining flat year-over-year [12] Market Data and Key Metrics Changes - The company noted robust competitive intensity and softening industry trends amidst consumer uncertainty [5] - There was a bounce back in April after a softening in February and March, but overall consumer sentiment remains volatile [26] Company Strategy and Development Direction - The company is focused on cost discipline while making strategic investments in marketing and technology [6] - Upcoming app enhancements will aim to improve customer experience and engagement [6] - The company is committed to expanding its Total Addressable Market (TAM) and international capabilities [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term resilience of the live events industry despite current pressures [5] - The company is suspending guidance for the remainder of 2025 due to increased variability in the global economy and potential consumer softness [14] - Management emphasized the importance of operational discipline and strategic investments for long-term success [10] Other Important Information - The company repurchased $7 million worth of shares at an average price of $2.89 during the quarter [14] - The partnership with United Airlines is expected to contribute positively in the second half of 2025 [9] Q&A Session Summary Question: Can you elaborate on the competitive environment and performance marketing changes? - Management noted changes in the Google channel affecting data reporting, leading to increased bidding and decreased efficiency across the industry [20][21] Question: Have you seen any changes in industry expectations? - Management indicated a conservative approach due to broader economic conditions, with expectations for a flat to down industry [24][26] Question: Are artists delaying tours due to macro uncertainty? - Management acknowledged volatility in the industry, with some seasonal lows in market activity [29] Question: What are your thoughts on cash conversion to EBITDA and capital allocation? - Management expects limited cash generation for the year due to declining EBITDA and working capital pressures [38] Question: How do you view market share dynamics? - Management indicated that GOV being down 20% could reflect share impact, particularly from performance marketing channels [42][43] Question: Can you provide insights on the marketing channel mix? - Management is focusing on diversifying marketing channels and leveraging partnerships to mitigate competitive pressures [71][74] Question: What is the impact of regulatory changes on the industry? - Management supports regulations aimed at price transparency and believes it will create a level playing field [65][66]

Q1 2025 Financial Results May 6, 2025 (Nasdaq: SEAT) Agenda Business Highlights & Updates Stan Chia, Chief Executive Officer 2 Financial Results & Outlook Lawrence Fey, Chief Financial Officer Important Disclaimers Forward-Looking Statements 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," "f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 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 ...

"With elevated uncertainty across the global economy, the health of the consumer, and the performance marketing landscape, we are suspending guidance for fiscal year 2025," said Lawrence Fey, Vivid Seats CFO. "We currently anticipate industry volumes to be flat-to-down for the year versus our prior expectation of mid-to-high single digit growth. We will face easier year-over-year comps in the second half of the year, but anticipate competitive intensity to persist and continue to pressure results." First Qu ...

Core Insights - Vivid Seats Inc. reported a decline in key financial metrics for Q1 2025, with Marketplace Gross Order Value (GOV) at $820.4 million, down 20% from $1,028.5 million in Q1 2024 [5][7] - The company experienced a net loss of $9.8 million in Q1 2025, a significant decrease from a net income of $10.7 million in the same period last year [7][18] - Due to economic uncertainties, Vivid Seats has suspended its fiscal year 2025 guidance, anticipating industry volumes to be flat-to-down compared to previous expectations of mid-to-high single-digit growth [3][10] Financial Performance - Marketplace GOV for Q1 2025 was $820.4 million, a decrease of 20% from $1,028.5 million in Q1 2024 [5][7] - Revenues fell to $164.0 million, down 14% from $190.9 million in Q1 2024 [7][18] - Adjusted EBITDA decreased by 44% to $21.7 million from $38.9 million in Q1 2024 [7][24] Operational Metrics - The number of Marketplace orders decreased to 2,296 in Q1 2025 from 2,876 in Q1 2024 [5][6] - Resale orders slightly increased to 105 in Q1 2025 from 99 in Q1 2024 [5][6] - Event cancellations impacted Marketplace GOV, with $15.5 million in cancellations in Q1 2025 compared to $18.3 million in Q1 2024 [5][6] Strategic Focus - The company aims to maintain operational discipline and focus on controllable factors while making strategic investments in marketing and technology [2][3] - Vivid Seats is committed to a cost-disciplined approach amidst competitive intensity and softening industry trends [2][3]

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]