Vivid Seats Inc
NASDAQ:SEAT
Vivid Seats Inc
Vivid Seats, Inc. operates as an online ticket marketplace, which engages in the provision of different selections of events and tickets in North America. The company is headquartered in Chicago, Illinois and currently employs 430 full-time employees. The company went IPO on 2020-08-20. The firm operates through two segments: marketplace and resale. Its marketplace segment acts as an intermediary between ticket buyers and third-party ticket sellers. The company facilitates the sale of tickets by third-party ticket sellers through its Website www.vividseats.com and Vivid Seats native applications. The company also provides a private label offering to third-party distribution partners with software solutions that enable them to sell tickets on their own Websites. The firm's resale segment primarily serves as an internal research and development group that is focused on creating seller software and tools. The firm supports sellers with its Skybox platform, an enterprise resource planning (ERP) tool that helps sellers to manage inventory, adjust pricing and fulfill orders.
Vivid Seats, Inc. operates as an online ticket marketplace, which engages in the provision of different selections of events and tickets in North America. The company is headquartered in Chicago, Illinois and currently employs 430 full-time employees. The company went IPO on 2020-08-20. The firm operates through two segments: marketplace and resale. Its marketplace segment acts as an intermediary between ticket buyers and third-party ticket sellers. The company facilitates the sale of tickets by third-party ticket sellers through its Website www.vividseats.com and Vivid Seats native applications. The company also provides a private label offering to third-party distribution partners with software solutions that enable them to sell tickets on their own Websites. The firm's resale segment primarily serves as an internal research and development group that is focused on creating seller software and tools. The firm supports sellers with its Skybox platform, an enterprise resource planning (ERP) tool that helps sellers to manage inventory, adjust pricing and fulfill orders.
Leadership Change: Lawrence Fey, previously CFO, is now CEO, succeeding Stan Chia. Ted Pickus named Interim CFO.
Q3 Results: Revenue and order volumes declined sharply year-over-year due to a tough competitive environment and the loss of a major private label partner.
Cost Cutting: The fixed cost reduction target more than doubled, from $25 million to $60 million, with significant progress already made.
App Focus: The company is investing heavily in its app, with a new lowest price guarantee and loyalty rewards to drive recurring users and protect against paid search costs.
2026 Guidance: Early 2026 outlook provided, assuming flat industry volumes, with Marketplace GOV expected at $2.2–$2.6 billion and adjusted EBITDA of $30–$40 million.
Take Rate Pressure: Marketplace take rate declined to 17.0% in Q3 and is expected to remain in the 16% range near-term as investments in customer value increase.
Industry Dynamics: Competitive intensity has recently eased, notably with StubHub pulling back on marketing spend, leading to stabilization in Vivid Seats' owned properties.
Corporate Simplification: Terminated tax receivable agreement and collapsed dual class share structure, delivering immediate and ongoing savings.
