From GlobeNewswire: 2025-03-12 18:51:00

Vivid Seats corrects its financial results for the full year and fourth quarter of 2024, highlighting investments that drove marketplace efficiency. The company reflects on 2024 performance, including synergies from Vegas.com and new partnerships, and announces a European launch. Financial metrics include a 1% decrease in Marketplace GOV and a 9% increase in revenues for the full year 2024.

In the fourth quarter of 2024, Vivid Seats experienced an 11% decrease in Marketplace GOV and reported a net loss of $4.4 million. Despite challenges in performance marketing channels, the company remains prepared to make investments to protect its market position. Vivid Seats expects a return to top-line growth in the second half of 2025.

Key performance indicators for Vivid Seats in the fourth quarter and full year of 2024 include Marketplace GOV, Marketplace orders, Resale orders, and Adjusted EBITDA. The company faced event cancellations impacting Marketplace GOV and orders. Adjusted EBITDA was $34.2 million in the fourth quarter of 2024.

Looking ahead, Vivid Seats anticipates Marketplace GOV, revenues, and adjusted EBITDA for the year ending December 31, 2025, to be in specific ranges. The company plans to provide additional detail on the 2025 outlook during the fourth quarter 2024 earnings call. Vivid Seats calculates forward-looking adjusted EBITDA and cash generation based on internal forecasts. Vivid Seats will host a webcast to discuss full year and fourth quarter 2024 financial results, business updates, and financial outlook. Founded in 2001, Vivid Seats is a leading online ticket marketplace connecting fans to live events. The company offers a wide selection of events and tickets in North America with an industry-leading rewards program.

The press release contains forward-looking statements related to Vivid Seats’ future operating results, financial position, and business strategy. Factors affecting future performance include economic conditions, competition in the ticketing industry, and the impact of extraordinary events like disease epidemics. Actual results may differ from forward-looking statements due to uncertainties and factors beyond the company’s control. Vivid Seats Inc. reported a total asset value of $1,636,096, with current assets totaling $345,171 in December 2024. Liabilities amounted to $1,022,061, with shareholders’ equity at $261,113. The company’s revenue for the year ended December 31, 2024, was $775,586, with a net loss of $4,415. Adjusted EBITDA and cash generation were key financial measures used by analysts and investors to evaluate the company’s performance. These non-U.S. GAAP financial measures excluded certain costs like income tax expense, depreciation, and amortization. Cash generation as a percentage of adjusted EBITDA was calculated as the projected increase or decrease in cash, excluding strategic acquisitions/investments and capital structure changes. In the fourth quarter of 2024, the company reported a net loss of $4,415, compared to a net income of $28,525 in the same period in 2023. Adjusted EBITDA for the same period was $34,243, slightly lower than the $35,103 reported in 2023. The company also accrued for sales and indirect tax liabilities during the years ended December 31, 2024 and 2023.

Transaction costs in the year ended December 31, 2024, primarily related to the refinancing of the company’s first lien loan and strategic investments. In the same period in 2023, costs were related to secondary offerings of Class A common stock and acquisitions of Vegas.com.com, LLC and Wavedash Co., Ltd.

Equity-based compensation in 2024 amounted to $12,144, compared to $7,126 in 2023. This was granted pursuant to the company’s 2021 Incentive Award Plan. Litigation, settlements, and related costs in 2024 amounted to $486, whereas in 2023, the company recorded a loss of $45 in this category.

The company reported a loss on asset disposals of $117 in 2024 and $634 in 2023. Adjustments to liabilities under the Tax Receivable Agreement amounted to $(6,166) in both 2024 and 2023. The change in fair value of contingent consideration was zero in 2024, while it was $(998) in 2023.



Read more at GlobeNewswire:: [Corrected Press Release] Vivid Seats Reports Fourth