Debt ReductionWith the IPO proceeds, the company paid down $750M in debt and reduced net leverage to 3.9x from 7.7x, resulting in ~$75M of savings in debt service cost annually, driving higher future FCF.
Market LeadershipStubHub's scale, differentiated offering, and market leadership in secondary ticketing provide a key competitive advantage, enabling the company to continue gaining market share and become the global leader in live event ticketing.
Revenue GrowthRevenue growth is supported by share gains in the Resale business and the emerging Direct Issuance business.