Core Points - StubHub, one of the largest ticket sales platforms in the U.S., has decided not to provide performance guidance, indicating potential concerns about its performance and market demand [2] - The company reported a net loss of $1.3 billion in Q3, which includes approximately $1.4 billion in expenses related to stock grants to employees during its IPO [2] - StubHub's revenue for the quarter was $468 million, an 8% increase compared to the same period last year when it was still a private company [2] - The total gross merchandise value (GMV) for StubHub was $2.4 billion, reflecting an 11% year-over-year growth; excluding the impact of Taylor Swift's record-breaking "Eras Tour" ticket sales from the previous year, the growth would be 24% [2] - Analysts from JPMorgan downgraded StubHub's target stock price from $24 to $22, interpreting the lack of current quarter guidance as a sign of weak performance; however, they remain bullish on the stock due to sales growth and market share gains shown in the Q3 report [2] Stock Performance - Following the release of its first quarterly report post-IPO, StubHub's stock price dropped significantly [3] - The company did not provide a forecast for the current quarter and plans to offer guidance for 2026 in the next earnings report [3] - StubHub's stock price fell approximately 25% in recent trading, reaching around $14, marking its lowest level since the IPO in September [3] - CFO Connie James informed investors during the earnings call that the company plans to release its Q4 results along with the 2026 outlook in about three months [3]

Group 1 - StubHub Holdings Inc. reported a net loss of $35.9 million for the latest fiscal quarter ending March 31, with revenues of $397.6 million, compared to a net loss of $29.7 million and revenues of $360.1 million in the same period last year, indicating a significant increase in both loss and revenue [1][3] - The total gross merchandise sales for StubHub reached $2.1 billion in the latest quarter, up from $1.8 billion in the same period last year, showcasing strong business growth despite challenges [3] - The company has been exploring an IPO since 2022, with an initial market valuation expectation exceeding $13 billion, but faced delays due to unfavorable market conditions [3][4] Group 2 - StubHub's IPO is being led by JPMorgan Chase and Goldman Sachs, with participation from over a dozen other banks, and plans to list on the New York Stock Exchange under the ticker symbol STUB [4] - The company's co-founder Eric Baker, who previously sold StubHub to eBay for $310 million, later facilitated its acquisition by Viagogo for $4.05 billion in 2019, and currently holds 5.2% of A-class shares, maintaining over 90% voting power through B-class shares [4]