Vivid Seats reports Q4 revenue $165.0M, consensus $154.51M

"2022 was a stellar year for live events and an exceptional year for Vivid Seats. Our team capitalized on strong demand, navigated the competitive landscape with agility and delivered on financial and strategic objectives that strengthen our business for 2023 and beyond," said CEO Stan Chia. "Both 2022 Marketplace GOV and Revenues exceeded our prior records from 2021 by more than 30% and exceeded our initial guidance midpoint by 10%. Even with substantial competitive pressures in the second half, we delivered Adjusted EBITDA within our guidance range, while making deliberate investments to drive higher customer lifetime value…Innovation and affinity on both sides of our marketplace is key and this quarter we are excited to announce Skybox Drive – an intelligent automation that optimizes revenue for our sellers on Skybox." "We are proud of the operational and financial performance we demonstrated in 2022 in our first full year as a public company," said CFO Lawrence Fey. "We continued to build long-term value for stakeholders while capturing robust demand and navigating a highly competitive environment. While we anticipate muted industry growth in 2023, we see meaningful opportunity for Vivid Seats to push our advantage and continue to cement the foundation for strong long-term strategic and financial performance."