Vivid Seats(US:SEAT) Globenewswireยท2025-05-06 10:30Core 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]