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]

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]

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]

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $76.5 million, down 13% year-over-year, but at the upper end of the outlook range [27] - Adjusted EBITDA for Q4 was $6.5 million, compared to $8.8 million in the prior year [34] - Full year 2024 adjusted EBITDA was $35.1 million, up from $28.7 million in 2023 [35] Business Line Data and Key Metrics Changes - Ticketing revenue declined 10% to $70.4 million, primarily due to paid ticket volume recovery from the impacts of organizer fees [28] - Marketplace revenue decreased 35% to $6 million, attributed to the loss of organizer fees, partially offset by a 35% increase in Eventbrite Ads revenue [28][14] - Total ticketing volume was 72 million in Q4, representing a 2% year-over-year growth, driven by an 8% increase in free ticket volume [29][11] Market Data and Key Metrics Changes - Free ticket volume grew 8% in Q4, indicating a significant recovery and a 25 percentage point improvement from Q3 [12] - Paid ticket volume totaled 21.6 million in Q4, also a 10% decline, but an improvement from the 14% decline reported in Q3 [30] Company Strategy and Development Direction - The company is focusing on three strategic areas for 2025: expanding consumer reach, deepening creator engagement, and strengthening marketplace monetization [16] - A redesigned Eventbrite app is being rolled out to enhance event discovery and consumer engagement [17] - The company aims to exit 2025 as a stronger, more scalable business despite guiding to lower revenue due to structural changes in revenue mix [15][22] Management's Comments on Operating Environment and Future Outlook - Management views 2025 as a transition year, expecting to see continued recovery in ticketing trends and growth in Eventbrite Ads [39] - The elimination of organizer fees is expected to result in a $20 million revenue headwind compared to 2024, but management believes this will set the foundation for long-term growth [39][40] - Management expressed confidence in the company's ability to scale efficiently and drive stronger growth in 2026 and beyond [16][41] Other Important Information - The company ended Q4 with cash, cash equivalents, and restricted cash totaling $465 million, down from $531 million at the end of Q3 [36] - Total debt at the end of Q4 was $241 million, with a focus on managing debt maturities in the upcoming year [36] Q&A Session Summary Question: Update on TikTok partnership and conversion rates - Management highlighted that the TikTok partnership is crucial for event discovery and ticket sales, with ongoing efforts to improve conversion rates through native ticket integration [45][46] Question: Annual outlook and EBITDA margin guidance - Management explained that the mid-single digit EBITDA margin guidance reflects the impact of the $20 million reduction in organizer fees and other cost factors [50][52] Question: Free ticket activity and its impact on revenue growth - Management indicated that free ticket activity is a leading indicator for paid ticket volume growth, with ongoing improvements in creator retention and consumer engagement [66][70] Question: Capital allocation strategy regarding share repurchases and debt management - Management stated that a balanced approach will be taken for capital allocation, focusing on managing debt maturities while executing the share buyback program [79][80] Question: Building consumer loyalty and engagement - Management emphasized the importance of app users for driving loyalty and engagement, with initiatives like the HITLIST feature to enhance event discovery [88][90] Question: Strategies to win back high-volume creators - Management noted that since reintroducing the free tier, there has been stronger engagement with creators, supported by improved marketing tools and account management strategies [111][112]

Company Overview - Eventbrite aims to be the indispensable marketplace for live experiences[7] - The company is a scaled and trusted events marketplace with a large consumer audience, averaging 89 million monthly users and 270 million free and paid tickets in 2024[13] - Over 47 million events were held on the platform in 2024[17] Financial Performance & Metrics - Q4 2024 paid ticket volume was 216 million, a 10% year-over-year decrease, but improved 4 percentage points from Q3[64] - Q4 2024 net revenue was $765 million, a 13% year-over-year decline[64] - Q4 2024 net loss was $84 million, with an adjusted EBITDA of $65 million[64] - For FY 2024, Eventbrite's gross booking value was $33 billion[26] - FY 2024 net revenue was $3251 million[67] Growth Strategy - The company focuses on strategic inventory, elevating visibility and discoverability, developing self-sign-on features, and monetizing its network to drive growth[42] - Eventbrite is focused on returning to revenue growth, driven by simplified pricing and packaging, and Eventbrite Ads adoption[54] - 49% of total tickets sold were influenced by Eventbrite-driven demand in Q4 2024[39] 2025 Outlook - The company anticipates Q1 2025 net revenue to be in the range of $71 million to $74 million[70] - Full year 2025 net revenue is expected to be in the range of $295 million to $310 million, impacted by the elimination of organizer fees, resulting in an approximately $20 million revenue headwind compared to 2024[71, 72]