Vivid Seats Q2 2024 Earnings Report
Key Takeaways
Vivid Seats reported a 20% year-over-year increase in revenue, reaching $198.3 million for Q2 2024. Adjusted EBITDA grew by 42% year-over-year, demonstrating the strength of the platform. However, the company experienced a net loss of $1.2 million, a decrease from the net income of $38.3 million in Q2 2023.
Marketplace GOV reached $998.1 million, a 5% increase compared to Q2 2023.
Revenues increased by 20% year-over-year to $198.3 million.
Net loss totaled $1.2 million, a decrease from net income of $38.3 million in the prior year.
Adjusted EBITDA grew by 42% year-over-year to $44.2 million.
Vivid Seats
Vivid Seats
Forward Guidance
Vivid Seats anticipates Marketplace GOV, Revenues and Adjusted EBITDA for the year ending December 31, 2024 to be in the following ranges: Marketplace GOV in the range of $4.0 billion to $4.3 billion, Revenues in the range of $810.0 million to $830.0 million and Adjusted EBITDA in the range of $160.0 million to $170.0 million
Positive Outlook
- Marketplace GOV in the range of $4.0 billion to $4.3 billion
- Revenues in the range of $810.0 million to $830.0 million
- Adjusted EBITDA in the range of $160.0 million to $170.0 million
- Refinanced and up-sized term loan.
- Reduced interest rate while adding $125 million of cash to balance sheet.
Challenges Ahead
- Marketplace GOV previously expected to be $4.2 billion to $4.5 billion
- Revenues previously expected to be $810.0 million to $840.0 million.
- Uncertainty regarding the timing and significance of excluded items in forward-looking Adjusted EBITDA.
- Potential impact of acquisitions and strategic investments, including integration of Wavedash Co., Ltd. and Vegas.com, LLC.
- Effects of any recession and/or heightened inflation.