Vivid Seats Inc. ( (SEAT) ) has released its Q3 earnings. Here is a breakdown of the information Vivid Seats Inc. presented to its investors.
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Vivid Seats Inc. is a prominent online ticket marketplace that connects buyers and sellers for live events, leveraging its technology platform to offer a wide selection of events and tickets across North America. The company recently released its third-quarter 2025 earnings report, highlighting a significant leadership transition with Lawrence Fey appointed as the new CEO, succeeding Stan Chia.
In the third quarter of 2025, Vivid Seats reported a decline in key financial metrics compared to the same period in 2024. The Marketplace Gross Order Value (GOV) fell by 29% to $618.1 million, and revenues decreased by 27% to $136.4 million. The company also experienced a net loss of $19.7 million, a sharp drop from the net income of $9.2 million in the previous year. Adjusted EBITDA was reported at $4.9 million, down from $34.1 million in the third quarter of 2024.
The leadership transition comes with strategic priorities set by the new CEO, Lawrence Fey, who emphasized the focus on platform efficiency and delivering a unique value proposition to fans through initiatives like the Lowest Price Guarantee and Vivid Seats Rewards. The company is also doubling its annualized cost savings target to $60 million, aiming to reinvest in its value proposition and improve operational efficiency.
Looking ahead, Vivid Seats has provided an initial outlook for 2026, anticipating Marketplace GOV to range between $2.2 billion and $2.6 billion, and Adjusted EBITDA to be between $30 million and $40 million. The company is committed to building a more efficient and profitable business, driven by strategic cost reductions and a simplified corporate structure.