From GlobeNewswire: 2025-03-12 06:30:00

Vivid Seats Inc. (NASDAQ: SEAT) reported financial results for full year and fourth quarter 2024. Despite a 1% decrease in Marketplace GOV, revenues increased by 9%, totaling $775.6 million. Net income dropped by 87% to $14.3 million, but adjusted EBITDA rose by 7% to $151.4 million.

In the fourth quarter of 2024, Marketplace GOV decreased by 11% to $994.4 million, with revenues rising by 1% to $199.8 million. Despite a net loss of $4.4 million, adjusted EBITDA was $34.2 million, a 2% decrease from the same period in 2023.

Vivid Seats CFO Lawrence Fey highlighted maintaining unit economics in 2024. He expects competitive intensity in 2025 and plans to make additional investments to protect market position. The company anticipates a return to top-line growth in the second half of 2025 and aims for double-digit growth in the intermediate term.

For the year ending December 31, 2025, Vivid Seats projects Marketplace GOV in the range of $3.7 to $4.1 billion, revenues between $730.0 to $810.0 million, and adjusted EBITDA ranging from $110.0 to $150.0 million. The company will provide more details on the 2025 outlook during the fourth quarter 2024 earnings call. Vivid Seats will host a webcast at 8:30 a.m. Eastern Time today to discuss the full year and fourth quarter 2024 financial results, business updates, and financial outlook. Participants may access the live webcast and presentation on the Vivid Seats Investor Relations website.

Founded in 2001, Vivid Seats is an online ticket marketplace connecting fans to live events, artists, and teams. Offering a wide selection of events and tickets in North America, Vivid Seats also has a fantasy sports app. The company aims to provide exceptional value and shared experiences for all fans.

The press release contains forward-looking statements regarding Vivid Seats’ future operating results, financial position, and business strategy. Factors such as economic conditions, competition, and cybersecurity risks could impact actual results. Investors are advised to consider these risks and uncertainties when evaluating the company’s performance and future prospects. Vivid Seats Inc. released its consolidated balance sheets for December 31, 2024, showing total assets of $1,636,096, with current assets totaling $345,171 and total liabilities at $1,022,061. The company also reported its consolidated statements of operations for the year 2024, revealing total revenues of $775,586 and a net loss of $4,415. In addition, the consolidated statements of cash flows for 2024 indicated a net cash increase of $112,214.

The company presented adjusted EBITDA and cash generation as a percentage of adjusted EBITDA as key financial measures. These non-U.S. GAAP financial measures are used by analysts and investors to evaluate companies in the industry. They help in analyzing operating expenses, evaluating performance, and making strategic planning decisions. These measures exclude items outside the company’s control and provide insights into ongoing performance directly related to business operations.



Read more at GlobeNewswire:: Vivid Seats Reports Fourth Quarter and Full Year 2024