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Jun 30, 2024
Vivid Seats Q2 2024 Earnings Report
Vivid Seats reported strong results driven by disciplined execution and leveraging unique assets, with revenue growth and adjusted EBITDA increase.
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.