Reports Q2 adjusted EBITDA $14.4M vs. $44.2M last year. “We continued to navigate a challenging industry backdrop in the second quarter as we saw pressure on consumer spending coupled with continued competitive intensity in performance marketing channels,” said Stan Chia, CEO. “Industry monthly volume trends have been unpredictable while competitive intensity persists near peak levels. While near-term growth is under pressure, we continue to view live events as an attractive long-term opportunity with durable supply and demand tailwinds. We have identified $25M of annualized cost savings that we expect to fully action by the end of 2025. This cost reduction program will both right-size the organization for the current environment and drive enhanced long-term efficiency to ensure Vivid Seats (SEAT) can offer a leading value proposition to fans and sellers over the long-term. We are taking decisive action to strengthen our foundation for the future.” “We intend to utilize a portion of the savings generated by our cost reduction program to be more competitive across key levers to stabilize top line as we look to 2026 and beyond,” said Lawrence Fey, CFO. “We anticipate positive cash flow in the third quarter due to a combination of typical seasonality improvements and a belief that the degree of June’s industry volume softness was atypical.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SEAT: