Financial Data and Key Metrics Changes - In Q2 2025, the company reported $685 million in Marketplace Gross Order Value (GOV), down 31% year-over-year [11] - Total Marketplace orders decreased approximately 30% year-over-year, while average order size declined by 2% [11] - Revenues for Q2 were $144 million, representing a 28% year-over-year decrease [11] - Adjusted EBITDA for Q2 was $14 million, significantly down from the previous year due to lower volume and negative operating leverage [12] - The company ended Q2 with $392 million in debt and $153 million in cash, resulting in net debt of $239 million [13] Business Line Data and Key Metrics Changes - The sports category experienced a significant decline, down double digits in Q2, attributed to weak playoff matchups and challenging comparisons [5][6] - The concerts category saw low single-digit growth in Q2 but faced a double-digit decline in June [5] - The company announced a cost reduction program targeting $25 million in annualized savings, with over $5 million already realized [6][7] Market Data and Key Metrics Changes - The industry faced a challenging operating environment with double-digit declines across categories in June, influenced by economic uncertainty and the FTC's all-in pricing mandate [5][6] - Internationally, the company is now operational in four European countries, exceeding margin expectations and achieving net contribution positive thus far in 2025 [9] Company Strategy and Development Direction - The company is executing a strategic cost reduction program to improve operating leverage and position itself for long-term growth opportunities [4][6] - The focus is on enhancing efficiency without compromising customer experience, with plans to shut down Vivid Picks as part of this strategy [7][8] - The company remains committed to innovation and expanding its international presence despite current challenges [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth potential of live events, despite current competitive pressures and economic uncertainties [5][10] - The company anticipates positive cash flow in Q3 due to seasonal improvements and believes that the softness experienced in June was atypical [13][90] - Management highlighted the importance of returning to growth and generating sustainable positive cash flow as key objectives moving into 2026 [90][91] Other Important Information - The company plans to implement a one-for-20 reverse stock split to enhance the marketability of its common stock [13][14] - The competitive landscape remains intense, with increased aggressiveness in performance marketing channels impacting profitability [76][80] Q&A Session Summary Question: Thoughts on take rate and market positioning - Management emphasized a focus on unit economics and plans to emerge leaner to drive sustainable growth into 2026 [20][21] - The take rate increase was attributed to mix shifts rather than pricing changes, with a focus on maintaining competitiveness [22][24] Question: Impact of consumer spending and competitive pressures - Management indicated that competitive intensity was the primary issue, with consumer softness contributing a couple of hundred basis points of headwind [29] Question: International expansion and growth plans - Management expressed satisfaction with international performance and indicated a willingness to accelerate investments in that area [32] Question: All-in pricing impact on the market - Management noted that the all-in pricing rollout has led to a decline in conversion rates, but recovery is expected based on past experiences in other states [41][42] Question: Cost savings and operational efficiency - Management confirmed that the $25 million in savings is an annualized figure expected to be fully realized by year-end [38] Question: Shuttering Vivid Picks - The decision to shut down Vivid Picks was based on its failure to drive expected engagement and increasing regulatory challenges [85][86] Question: Cash flow expectations for 2025 and 2026 - Management expects to be cash flow positive in Q3, with a focus on returning to growth to support sustainable cash generation [90][91]

Core Insights - The WNBA is experiencing a significant rise in fan interest and ticket demand, with a 49% year-over-year increase in average ticket prices, indicating a growing relevance and reach for women's basketball [2][3] Ticket Demand and Pricing - The average ticket price for WNBA games has increased by 49% year-over-year, reflecting heightened demand for women's basketball [2] - The most in-demand tickets for the 2025 season include the WNBA All Star Game priced at $533, followed by the Indiana Fever's game against the Golden State Valkyries at $519 [5][7] Fan Engagement and Travel - Fans are traveling an average of 346 miles to attend WNBA games, which is a 12% increase compared to the previous year [3] - The Las Vegas Aces lead the league in average travel distance, with fans traveling an impressive 578 miles to see them play [10][14] Team Popularity - The Indiana Fever have emerged as the most favored team in the U.S., dominating in 13 states, followed by the Las Vegas Aces in 8 states and the Connecticut Sun in 6 states [6][8] - The Indiana Fever are featured in four of the top five most in-demand games for the 2025 season, highlighting their strong fan engagement [4][6] Impact of New Talent - The Dallas Wings experienced a 920% spike in website traffic after winning the 2025 WNBA Draft Lottery and selecting Paige Bueckers as the No. 1 overall pick, indicating a significant boost in fan interest [9] - The average ticket prices for Dallas Wings games have increased by 74% year-over-year, showcasing the impact of new talent on franchise popularity [9]

CHICAGO, April 24, 2025 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (NASDAQ:SEAT) ("Vivid Seats"), 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, will report financial results for the first quarter 2025 on Tuesday, May 6, 2025, before the U.S. stock market opens. Management will discuss the results on a webcast at 8:30 a.m. ET. Founded in 2001, Vivid Seats is a leading online ticket marketp ...