"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]

Core Insights - Vivid Seats Inc. will report its financial results for Q1 2025 on May 6, 2025, before the U.S. stock market opens [1] - A live webcast discussing the results will take place at 8:30 a.m. ET on the same day [2] Company Overview - Founded in 2001, Vivid Seats is a leading online ticket marketplace that connects millions of buyers with thousands of ticket sellers across a wide range of events [3] - The company emphasizes the belief that everyone should "Experience It Live" and offers a vast selection of events and tickets in North America [3] - Vivid Seats has an industry-leading rewards program, Vivid Seats Rewards, which allows fans to earn on every purchase [3] - The company also owns Vivid Picks, a daily fantasy sports app, and utilizes proprietary software and technology to enhance the ticketing ecosystem [3] - Vivid Seats has been recognized by Newsweek as one of America's Best Companies for Customer Service in ticketing [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]

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]

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 generated $994 million in marketplace Gross Order Value (GOV) in Q4 2024, an 11% decrease year-over-year, with a 12% reduction in total marketplace orders [24][26] - The average order size increased by 2% year-over-year in Q4 2024 [24] Business Line Data and Key Metrics Changes - The loyalty program, Vivid Seats Rewards, saw repeat orders increase to 61% of total orders, indicating a strong trend in customer retention [10] - The Game Center initiative led to a doubling of app downloads year-over-year and quarter-over-quarter in Q4 2024, contributing to increased engagement [12] Market Data and Key Metrics Changes - The live event industry is expected to return to growth in 2025, following a muted 2024, with consumers prioritizing spending on live experiences [8] - The company is expanding its Total Addressable Market (TAM) through acquisitions and international expansion, with a focus on the UK and other European countries [15][36] Company Strategy and Development Direction - The company plans to increase investments in marketing and technology to drive long-term growth, despite competitive intensity in the market [22][30] - Strategic partnerships, such as with United Airlines, are aimed at enhancing customer engagement and expanding the user base [20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth of the live events market, despite the competitive landscape in 2024 [6][21] - The company anticipates a return to top-line growth in the second half of 2025, aided by easier comparisons and new partnerships [21][29] Other Important Information - The company reduced the interest rate on its term loan, resulting in annualized savings of $3 million [26] - The guidance for 2025 includes marketplace GOV expectations of $3.7 billion to $4.1 billion and revenues of $730 million to $810 million [27] Q&A Session Summary Question: International expansion and EBITDA impact - 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: Concert pipeline and North American activity - Management noted a mixed outlook for concert activity, with early 2025 showing solid growth but recent weeks indicating a neutral to negative trend [40][41] Question: Market share competition and loyalty program - Management emphasized the importance of repeat users and the effectiveness of the loyalty program in maintaining customer engagement [46][48] Question: Strategic M&A and buyback plans - Management indicated that share buybacks are a core part of their capital allocation strategy, but they remain cautious about M&A opportunities in the near term [50][104] Question: Marketing expenses and macroeconomic impacts - Management stated that marketing expenses are expected to align with volume, and they are monitoring macroeconomic conditions closely [72][78]