StubHub Holdings Incorporation Class A (STUB)

NYSE:STUB

STUB

StubHub Holdings Incorporation Class A

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StubHub Holdings Incorporation Class A (STUB) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Nov 12, 2026

After Close (Confirmed)

Period Ending

2026 (Q3)

Consensus EPS Forecast

―

Last Year’s EPS

-4.27

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 12 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Mar 04, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call conveyed a largely positive operational and strategic picture: management highlighted durable marketplace fundamentals (GMS growth, ~50% North American share, >80% gross margins), strong cash conversion and meaningful debt reduction, and provided confident 2026 guidance (GMS +9% midpoint and a substantial adjusted EBITDA increase). Offsetting this optimism were near-term headwinds: a soft Q4 (down 8% GMS, Q4 revenue down 16%), elevated sales & marketing spend that compressed current margins, large noncash GAAP charges tied to the IPO, and deliberate delays in monetizing direct issuance and advertising while product work continues. Overall, the company presented robust long-term opportunity and margin expansion plans while acknowledging short-term investments and timing risks.

Company Guidance

StubHub guided fiscal 2026 GMS of $9.9–$10.1 billion (≈9% growth at the midpoint) and adjusted EBITDA of $400–$420 million, assuming core resale economics with take rates in the ~20% range, adjusted gross margins above 80%, international GMS of ~15% growing faster than North America, and disciplined operating spend to support direct issuance and advertising without assuming material near‑term revenue from those initiatives. For context, in 2025 the company delivered $9.2 billion of GMS (+6% YoY; +18% ex‑Eras), full‑year revenue of $1.7 billion (19% of GMS), adjusted gross margin of 83%, adjusted EBITDA of $232 million (13% of revenue), Q4 GMS of $2.3 billion (‑8% YoY; ~+6% ex‑Eras) with Q4 revenue $449 million (19% of GMS) and Q4 adjusted EBITDA $63 million (14% margin), full‑year adjusted sales & marketing ~$943 million (54% of revenue; Q4 $234M or 52%), adjusted ops & support $57 million (3%), adjusted G&A $223 million (13%). The company also reported ~70% free cash flow conversion of adjusted EBITDA in 2025 (including interest), reduced total debt by ~35% via ~$900 million term‑loan repayment to $1.5 billion, and ended the year with ~$1.2 billion in cash (~$494 million net of seller payments).

Full-Year GMS Growth and Underlying Strength

Generated $9.2B of GMS in 2025, up 6% year-over-year; excluding the Eras Tour, GMS grew ~18% YoY, indicating strong underlying marketplace performance.

Market Share Leadership in North America

Expanded North American secondary market share to approximately 50%, establishing a dominant marketplace position and reinforcing network effects and liquidity advantages.

Improved Adjusted Gross Margins

Adjusted gross margin strengthened to 83% in the fourth quarter (up from 76% in the prior-year period) and was 83% for the full year, up 200 basis points versus 2024—demonstrating the asset-light marketplace economics.

Strong Cash Generation and Debt Reduction

Free cash flow converted at nearly 70% of adjusted EBITDA in 2025; repaid ~ $900M of U.S. term loan reducing total debt by ~35%, ending the year with ~$1.2B cash (or ~$494M net of seller payments).

2026 Financial Guidance and EBITDA Expansion

Provided 2026 guidance of GMS $9.9B–$10.1B (midpoint ≈ 9% growth) and adjusted EBITDA $400M–$420M, signaling expected meaningful margin and earnings expansion versus 2025 adjusted EBITDA of $232M (13% of revenue).

Accelerating International Opportunity

International expansion outpaced North America; international markets account for ~15% of GMS and grew at multiples of North America in the fourth quarter, representing a material growth runway.

Strategic Shift to Product-Led, AI-Enabled Direct Issuance

Transitioning from business-development-led direct issuance to a product-led, AI-enabled supply-side strategy to reduce partner friction and enable scalable self-serve distribution—prioritizing long-term durable revenue upside.

StubHub Holdings Incorporation Class A (STUB) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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STUB Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 12, 2026	2026 (Q3)	- / -	-4.27	―	―	―
Mar 04, 2026	2025 (Q4)	-0.01 / -1.56	0.147	-1161.22% (-1.71)
Nov 13, 2025	2025 (Q3)	-2.87 / -4.27	-0.09	-4644.44% (-4.18)

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
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).

Where can I see when companies are reporting earnings?

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What is STUB EPS forecast?

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