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Mar 31, 2025
Vivid Seats Q1 2025 Earnings Report
Reported First Quarter 2025 Results
Key Takeaways
Vivid Seats reported a challenging first quarter for 2025, with decreases across key financial metrics including revenue, net income (loss), and Adjusted EBITDA compared to the prior year, attributed to competitive intensity and softening industry trends amidst consumer uncertainty.
Marketplace GOV decreased by 20% to $820.4 million in Q1 2025 compared to $1,028.5 million in Q1 2024.
Revenues were down 14% to $164.0 million in Q1 2025 from $190.9 million in Q1 2024.
Net loss was $9.8 million in Q1 2025, a significant decrease from net income of $10.7 million in Q1 2024.
Adjusted EBITDA declined by 44% to $21.7 million in Q1 2025 from $38.9 million in Q1 2024.
Forward Guidance
Vivid Seats is suspending guidance for the fiscal year 2025 due to elevated uncertainty in the global economy, consumer health, and the performance marketing landscape.
Positive Outlook
- Focus on operational discipline to manage the business for the long term.
- Continued cost-disciplined approach.
- Strategic and focused investments in marketing.
- Strategic and focused investments in technology.
- Anticipation of easier year-over-year comparisons in the second half of the year.
Challenges Ahead
- Robust competitive intensity.
- Softening industry trends.
- Consumer uncertainty.
- Elevated uncertainty across the global economy.
- Anticipated industry volumes to be flat-to-down for the year versus prior expectations.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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