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Jun 30, 2023
Vivid Seats Q2 2023 Earnings Report
Vivid Seats achieved record Marketplace GOV and expanded its total addressable market internationally.
Key Takeaways
Vivid Seats reported a strong second quarter with record Marketplace GOV and solid profitability, leading to raised guidance for 2023 Marketplace GOV, Revenues, and Adjusted EBITDA. The company also expanded its TAM internationally by acquiring Wavedash.
Marketplace GOV increased by 17% year-over-year to $953.7 million.
Revenues increased by 12% year-over-year to $165.4 million.
Net income increased by 59% year-over-year to $38.3 million.
Adjusted EBITDA increased by 2% year-over-year to $31.1 million.
Forward Guidance
Vivid Seats raised its full year 2023 guidance for Marketplace GOV, Revenues, and Adjusted EBITDA.
Positive Outlook
- Marketplace GOV is expected to be in the range of $3.4 billion to $3.6 billion.
- Revenues are expected to be in the range of $630.0 million to $650.0 million.
- Adjusted EBITDA is expected to be in the range of $125.0 million to $135.0 million.
- Acquisition of Wavedash will expand profitability.
- Strategic optionality enabled by cash flow and robust balance sheet.
Challenges Ahead
- Forecasting the timing or amount of items that have not yet occurred and are out of our control is inherently uncertain and unavailable without unreasonable efforts.
- Supply and demand of large-scale sporting events, concerts and theater shows.
- Relationships with buyers, sellers and distribution partners.
- Changes in internet search engine algorithms or in marketplace rules.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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