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Vivid Seats Inc. operates as an online ticket marketplace in the United States, Canada, and Japan. It operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers through its website and mobile applications, including Vivid Seats; Vegas.com, an online ticket marketplace for shows, attractions, tours, flights, and hotels in Las Vegas; Wavedash, an online ticket marketplace in Tokyo, Japan; and Vivid Picks, a real-money daily fantasy sports mobile application with social and gamification features. This segment also offers Skybox, a proprietary enterprise resource planning tool that helps ticket sellers manage ticket inventories, adjust pricing, and fulfill orders across multiple ticket resale marketplaces; and sells tickets for sports, concerts, theater events, and other live events. The Resale segment acquires tickets to resell on secondary ticket marketplaces; and provides internal research and development support for Skybox and to deliver seller software and tools. The company was founded in 2001 and is headquartered in Chicago, Illinois.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $571M | $-577M | $-429M | $-111M | 504.3% | -26.4% | -4654.9% |
| 2024 | $776M | $92M | $9M | $30M | 3.6% | 8.8% | -87.4% |
| 2023 | $713M | $102M | $75M | $135M | 71.0% | 18.8% | 160.1% |
| 2022 | $600M | $92M | $29M | $-1M | -7.5% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 600.27 | 712.88 | 775.59 | 570.78 |
| Operating Revenue | - | 600.27 | 712.88 | 775.59 | 570.78 |
| Cost Of Revenue | - | 140.51 | 182.18 | 201.85 | 173.44 |
| Gross Profit | - | 459.77 | 530.70 | 573.73 | 397.34 |
| Operating Expense | - | 383.73 | 450.36 | 531.51 | 453.83 |
| Selling General And Administration | - | 375.99 | 433.18 | 479.83 | 403.93 |
| Total Expenses | - | 524.23 | 632.54 | 733.36 | 627.27 |
| Operating Income | - | 76.04 | 80.34 | 42.22 | -56.50 |
| Total Operating Income As Reported | - | 78.10 | 81.34 | 42.22 | -779.52 |
| EBITDA | - | 91.95 | 102.44 | 91.83 | -577.46 |
| Normalized EBITDA | - | 94.17 | 101.44 | 91.83 | 146.37 |
| EBIT | - | 82.05 | 84.45 | 45.89 | -628.36 |
| Interest Expense | - | 12.86 | 13.50 | 23.17 | 23.74 |
| Net Interest Income | - | -12.86 | -13.50 | -23.17 | -23.74 |
| Other Non Operating Income Expenses | - | 8.23 | 3.11 | 3.67 | 151.96 |
| Other Income Expense | - | 6.01 | 4.11 | 3.67 | -571.87 |
| Interest Expense Non Operating | - | 12.86 | 13.50 | 23.17 | 23.74 |
| Net Non Operating Interest Income Expense | - | -12.86 | -13.50 | -23.17 | -23.74 |
| Pretax Income | - | 69.19 | 70.94 | 22.72 | -652.10 |
| Tax Provision | - | -1.59 | -42.20 | 8.42 | 69.39 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.47 | 0.21 | 0 | -152 |
| Net Income Continuous Operations | - | 70.78 | 113.14 | 14.30 | -721.49 |
| Net Income From Continuing And Discontinued Operation | - | 28.66 | 74.54 | 9.43 | -429.30 |
| Net Income From Continuing Operation Net Minority Interest | - | 28.66 | 74.54 | 9.43 | -429.30 |
| Net Income | - | 28.66 | 74.54 | 9.43 | -429.30 |
| Net Income Common Stockholders | - | 28.66 | 74.54 | 9.43 | -429.30 |
| Net Income Including Noncontrolling Interests | - | 70.78 | 113.14 | 14.30 | -721.49 |
| Normalized Income | - | 30.42 | 73.75 | 9.43 | 142.52 |
| Diluted NI Availto Com Stockholders | - | 70.78 | 51.21 | 11.74 | -721.49 |
| Basic Average Shares | - | 3.90 | 6.69 | 6.62 | 7.25 |
| Diluted Average Shares | - | 3.90 | 6.69 | 6.62 | 10.43 |
| Reconciled Depreciation | - | 9.90 | 18 | 45.94 | 50.91 |
| Reconciled Cost Of Revenue | - | 138.34 | 181.37 | 200.16 | 171.92 |
| Total Unusual Items | - | -2.22 | 1 | 0 | -723.82 |
| Total Unusual Items Excluding Goodwill | - | -2.22 | 1 | 0 | -723.82 |
| Minority Interests | - | -42.12 | -38.60 | -4.88 | 292.19 |
| Special Income Charges | - | -2.22 | 1 | 0 | -723.82 |
| Other Special Charges | 35.83 | 4.28 | - | - | 0.80 |
| Write Off | 0 | 0 | - | - | - |
| Impairment Of Capital Assets | - | 0 | 0 | 0 | 723.02 |
| Restructuring And Mergern Acquisition | - | -2.06 | -1 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | - | 7.73 | 17.18 | 44.24 | 49.39 |
| Depreciation And Amortization In Income Statement | - | 7.73 | 17.18 | 44.24 | 49.39 |
| General And Administrative Expense | - | 127.62 | 159.08 | 194.68 | 173.37 |
| Other Gand A | - | 127.62 | 159.08 | 52.49 | 52.34 |
| Salaries And Wages | - | 88.04 | 110.31 | 142.19 | 121.03 |
| Selling And Marketing Expense | - | 248.38 | 274.10 | 285.15 | 230.56 |
| Otherunder Preferred Stock Dividend | -12.84 | 0 | 0 | - | - |
| Average Dilution Earnings | - | 42.12 | -23.32 | 2.32 | -292.19 |
| Other Taxes | - | 4.38 | 5.96 | 7.44 | 0.51 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vivid Seats Inc.this co. | SEAT | $99M | -0.23 | -1.16 | 504.3% | -0.69 |
| ZipRecruiter, Inc. | ZIP | $271M | -8.20 | -3.51 | 42.7% | 55.81 |
| Angi Inc. | ANGI | $261M | 5.96 | 0.28 | 4.7% | 3.60 |
| CuriosityStream Inc. | CURI | $191M | -29.80 | 4.62 | -15.5% | 24.02 |
| Teads Holding Co. | TEAD | $112M | -0.22 | 1.17 |
| - |
| - |
| - |
| - |
| - |
| -541.8% |
| -1.92 |
| Travelzoo | TZOO | $101M | 21.42 | -13.39 | -62.5% | 13.40 |
| The Arena Group Holdings, Inc. | AREN | $68M | 0.54 | -14.01 | -2587.7% | 3.19 |
| PLAYSTUDIOS, Inc. | MYPS | $67M | -2.34 | 0.29 | -12.6% | -1.69 |
| Gaia, Inc. | GAIA | $61M | -13.63 | 0.70 | -5.1% | 4.68 |
| Peer Median | - | -1.28 | 0.29 | -14.0% | 4.14 | |