From GlobeNewswire: 2024-05-07 06:30:00

Vivid Seats Inc. (NASDAQ: SEAT) reported financial results for Q1 2024, with $190.9M in revenue, a 20% increase in Marketplace GOV to $1,028.5M, and a net income of $10.7M. The company aims for sustained double-digit growth with a focus on international expansion. Adjusted EBITDA fell from $42.4M in Q1 2023 to $38.9M in Q1 2024, reflecting investments in expansion. Vivid Seats CFO Lawrence Fey expressed confidence in achieving high-teen revenue and EBITDA growth in 2024 and forecasted a cash repurchase program.

For the year ending December 31, 2024, Vivid Seats projects Marketplace GOV between $4.2B to $4.5B, revenues of $810M to $840M, and adjusted EBITDA of $160M to $170M. These figures reflect the company’s commitment to expanding internationally and generating shareholder value. The announcement was made in the context of Q1 2024 financial results, showing a 20% increase in Marketplace GOV and a $39M cash flow from operations.

Vivid Seats, a leading online ticket marketplace founded in 2001, connects fans to live events and artists. The company, headquartered in Chicago, offers one of the widest selections of tickets in North America. Vivid Seats is set to launch international expansion later this year, utilizing proprietary software and technology to drive the live event ticketing business. Fans can access tickets through the Vivid Seats mobile app, website, or phone to create memorable live experiences.

This press release contains forward-looking statements about Vivid Seats’ future operating results and financial position. While the company aims for sustained growth and shareholder value, there are inherent uncertainties in predicting results. Factors like competition, market demand, and economic conditions could affect actual outcomes. Vivid Seats’ focus on strategic investments and technological enhancements underscores its commitment to providing exceptional value to fans and partners.



Read more at GlobeNewswire:: Vivid Seats Delivers Strong First Quarter Results