Vivid Seats Inc
NASDAQ:SEAT
Vivid Seats Inc
Vivid Seats, Inc. operates as an online ticket marketplace, which engages in the provision of different selections of events and tickets in North America. The company is headquartered in Chicago, Illinois and currently employs 430 full-time employees. The company went IPO on 2020-08-20. The firm operates through two segments: marketplace and resale. Its marketplace segment acts as an intermediary between ticket buyers and third-party ticket sellers. The company facilitates the sale of tickets by third-party ticket sellers through its Website www.vividseats.com and Vivid Seats native applications. The company also provides a private label offering to third-party distribution partners with software solutions that enable them to sell tickets on their own Websites. The firm's resale segment primarily serves as an internal research and development group that is focused on creating seller software and tools. The firm supports sellers with its Skybox platform, an enterprise resource planning (ERP) tool that helps sellers to manage inventory, adjust pricing and fulfill orders.
Vivid Seats, Inc. operates as an online ticket marketplace, which engages in the provision of different selections of events and tickets in North America. The company is headquartered in Chicago, Illinois and currently employs 430 full-time employees. The company went IPO on 2020-08-20. The firm operates through two segments: marketplace and resale. Its marketplace segment acts as an intermediary between ticket buyers and third-party ticket sellers. The company facilitates the sale of tickets by third-party ticket sellers through its Website www.vividseats.com and Vivid Seats native applications. The company also provides a private label offering to third-party distribution partners with software solutions that enable them to sell tickets on their own Websites. The firm's resale segment primarily serves as an internal research and development group that is focused on creating seller software and tools. The firm supports sellers with its Skybox platform, an enterprise resource planning (ERP) tool that helps sellers to manage inventory, adjust pricing and fulfill orders.
Leadership: New CFO Joe Thomas and new General Counsel Austin Arnett announced; management says refreshed strategy is in place for 2026.
Q4 results: Marketplace GOV was $581 million (down from $994 million), revenue $127 million (down from $200 million), and adjusted EBITDA was $1 million — results in line with expectations for a transitional quarter.
Cost cuts: Company achieved $60 million of annualized cost savings and simplified corporate structure (terminated TRA, collapsed dual-class shares).
Outlook: 2026 guidance reaffirmed: marketplace GOV $2.2B–$2.6B and adjusted EBITDA $30M–$40M; Q1 2026 GOV $570M–$620M and adjusted EBITDA $8M–$10M.
App momentum: App GOV is up over 20% year‑over‑year through the first two months of 2026 and app share of GOV is up >500 bps since the enhanced app launch.
Industry and events: Management sees modest industry growth into 2026 (World Cup expected to add a few hundred basis points to GOV) and early Q1 touring lineups improved versus Q4.
Cash/Leverage: End-Q4 cash $103M, debt $390M (net debt $287M); expect cash $125M–$135M at end of Q1 2026.
