StubHub Holdings Incorporation Class A (STUB)
NYSE:STUB
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Earnings Data
Report Date
Nov 12, 2026After Close (Confirmed)
Period Ending
2026 (Q3)Consensus EPS Forecast
―Last Year’s EPS
-4.27Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a clear positive operating and financial inflection: solid top-line growth (GMS +7%, revenue +12%), expanded margins (adjusted EBITDA margin +400 bps to 16%) and strong cash generation with active deleveraging. Management reiterated full‑year guidance and highlighted tangible product and distribution progress (AI self‑serve Distribution Manager, primary integrations, AI/chat partnerships and advertising tests) and robust international momentum. Near‑term challenges include higher G&A from IPO‑related items, ongoing share dilution from equity conversions and RSUs, remaining leverage (~4x), and the early-stage nature of new monetization streams and regulatory uncertainties. Overall, the positives materially outweigh the negatives and show the company executing against its stated priorities.Company Guidance
Top-line Growth: GMS and Revenue
Gross Merchandise Sales (GMS) increased 7% year-over-year to $2.2 billion in Q1 2026; revenue grew 12% year-over-year to $446 million, outpacing GMS growth and reflecting improved conversion from GMS to revenue.
Profitability Expansion
Adjusted EBITDA was $72.1 million with a 16% margin, representing margin expansion of over 400 basis points year-over-year driven by normalized revenue conversion, stronger gross margin and marketing efficiency.
Improving Unit Economics and Margins
Gross margin improved to 85%, expanding ~100 basis points year-over-year; company expects blended GMS-to-revenue conversion to trend toward historical levels (~20%) for the full year.
Marketing Efficiency and Cost Discipline
Sales & marketing declined to ~50% of revenue (a 500 basis point improvement year-over-year from ~55%), contributing materially to operating leverage; operations/support costs remained low at ~3% of revenue.
Strong Cash Generation and Deleveraging
Trailing 12‑month free cash flow was approximately $298 million (116% conversion of adjusted EBITDA); underlying free cash flow ~ $234 million (91% conversion). Cash and cash equivalents were ~$1.5 billion ($508 million net of seller obligations). Net leverage improved to ~4.0x trailing adjusted EBITDA from 4.5x at year-end 2025.
Capital Structure Progress and Debt Reduction
Repayments exceeded $1 billion over the last 12 months, with $100 million repaid subsequent to quarter end; total outstanding debt ~ $1.4 billion with no maturities until March 2030, improving interest burden and flexibility.
Reiterated Full-Year Guidance
Management reiterated full-year 2026 guidance: GMS of $9.9B–$10.1B (growth of ~8%–10%) and adjusted EBITDA of $400M–$420M, indicating confidence in the year’s trajectory following Q1 results.
Product and Distribution Innovation
Launched AI‑powered Distribution Manager (self‑serve tool for rights holders), announced direct integrations with primary ticketing platforms (example: Stanford Athletics), and expanded AI partnerships (Anthropic Claude, ChatGPT) — plus advertising tests — positioning longer-term distribution and monetization opportunities.
International Momentum
International growth outpaced North America in Q1 with notable strength in Latin America and Asia Pacific, leveraging StubHub's global platform and increasing opportunity from cross-border touring and events.
StubHub Holdings Incorporation Class A (STUB) Earnings, Revenues Date & History
STUB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
STUB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 13, 2026 | $7.52 | $8.55 | +13.70% |
Mar 04, 2026 | $10.17 | $8.91 | -12.39% |
Nov 13, 2025 | $18.82 | $14.87 | -20.99% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does StubHub Holdings Incorporation Class A (STUB) report earnings?
StubHub Holdings Incorporation Class A (STUB) is schdueled to report earning on Nov 12, 2026, After Close (Confirmed).
What is StubHub Holdings Incorporation Class A (STUB) earnings time?
StubHub Holdings Incorporation Class A (STUB) earnings time is at Nov 12, 2026, After Close (Confirmed).
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What is STUB EPS forecast?
Currently, no data Available