Vivid Seats reports Q3 revenue $136.4M, consensus $131.38M

Q3 adjusted EBITDA was $4.9M, down $29.2M from $34.1M in Q3 2024. New CEO and current CFO Lawrence Fey said, “We are more than doubling our annualized cost savings target to $60M and have simplified our corporate structure as a central part of our commitment to maximize our operating efficiency. These cost reductions enable reinvestment in our value proposition and we are seeing encouraging early signs including Owned Properties delivering sequential GOV growth and the Vivid Seats (SEAT) app delivering year-over-year GOV growth. At the same time, Private Label performance weighed negatively on year-over-year and sequential trends and negatively impacted consolidated results. Our progress to date executing our cost reduction program underpins our 2026 Initial Outlook and gives us confidence that we are building a more efficient, resilient, and profitable business for the long term.”