Vivid Seats(US:SEAT) Globenewswireยท2025-03-12 10:30Core 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].