Vivid Seats Inc. ( (SEAT) ) has released its Q4 earnings. Here is a breakdown of the information Vivid Seats Inc. presented to its investors.
Vivid Seats Inc., a prominent online ticket marketplace, connects fans with live events through its technology platform, offering a wide selection of tickets and a rewards program. The company reported its financial results for the fourth quarter and full year of 2024, highlighting a mixed performance. While revenues increased by 9% to $775.6 million for the year, net income saw a significant decline of 87% compared to 2023. The company also reported a net loss of $4.4 million for the fourth quarter, a stark contrast to the net income of $28.5 million in the same period the previous year.
Key financial metrics revealed that the Marketplace Gross Order Value (GOV) slightly decreased by 1% to $3.89 billion for the year, while adjusted EBITDA rose by 7% to $151.4 million. The fourth quarter saw a more pronounced decline in Marketplace GOV by 11%, though revenues managed a modest 1% increase. Despite these challenges, Vivid Seats continued to innovate, launching new features like Game Center and Skybox Drive, and expanding its international presence with a European launch.
The company remains optimistic about the future, with expectations of returning to top-line growth in the latter half of 2025. Management is focused on leveraging strategic partnerships, such as the new collaboration with United Airlines, to tap into new audiences and drive growth. Vivid Seats is also committed to maintaining its competitive edge in the live events industry by investing in technology and exploring international opportunities.
Looking ahead, Vivid Seats anticipates Marketplace GOV to range between $3.7 billion and $4.1 billion in 2025, with revenues expected to be between $730 million and $810 million. The company aims to continue generating substantial cash flow and achieving double-digit growth over the intermediate term, reflecting confidence in its strategic initiatives and market position.