A Business at a Glance
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We are an online ticket marketplace that utilizes our technology platform to connect fans of live events seamlessly with ticket sellers. We believe in the power of shared experiences to connect people with live events that deliver some of life’s most exciting moments, and our mission is to empower and enable fans to Experience It Live. For ticket buyers, we represent a differentiated value proposition. In addition to our compelling and easy-to-use mobile app and website: our ‘Lowest Price Guarantee’ is designed to ensure that we provide the most competitively priced tickets among our competitors; our ‘100% Buyer Guarantee’ promotes safe and secure transactions; our Vivid Seats Rewards loyalty program allows enrolled buyers to earn reward credits to spend on future orders; and our in-app Game Center engages users with the opportunity to win free tickets or promotional discounts. For ticket sellers, we offer a variety of products and services designed to help their businesses thrive.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 571M | 571M | 776M | 713M | 600M | 443M |
| Net Income | 806M | 806M | 13M | 69M | 71M | -19M |
| EPS | $-69.20 | $-69.20 | $22.40 | $5.20 | $7.20 | $-0.80 |
| Free Cash Flow | -94M | -94M | 50M | 146M | 11M | 175M |
| ROIC | -338.5% | -656.4% | 14.9% | 60.3% | 6.8% | 5.4% |
| Gross Margin | 69.6% | 69.6% | 74.0% | 74.4% | 76.6% | 79.5% |
| Debt/Equity | 0.00 | -4.70 | 1.55 | 2.67 | -0.69 | -0.53 |
| Dividends/Share | $0.00 | - | - | - | $0.00 | $1.81 |
| Operating Income | -780M | -780M | 42M | 81M | 78M | 77M |
| Operating Margin | -136.6% | -136.6% | 5.4% | 11.4% | 13.0% | 17.3% |
| ROE | 0.0% | 916.1% | 5.1% | 66.1% | - | - |
| Shares Outstanding | 11M | 11M | 1M | 13M | 10M | 10M |
| Metric | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | N/A | 443M | 600M | 713M | 776M | 571M | 571M |
| Gross Margin | N/A | 79.5% | 76.6% | 74.4% | 74.0% | 69.6% | 69.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 66M | 92M | 128M | 159M | 202M | 174M | 174M |
| EBIT | -716M | 77M | 78M | 81M | 42M | -780M | -780M |
| Op. Margin | N/A | 17.3% | 13.0% | 11.4% | 5.4% | -136.6% | -136.6% |
| Net Income | -774M | -19M | 71M | 69M | 13M | 806M | 806M |
| Net Margin | N/A | -4.3% | 11.8% | 9.7% | 1.7% | 141.2% | 141.2% |
| Non-Recurring | 574M | 0 | 0 | 0 | 0 | 723M | 723M |
| Returns on Capital | |||||||
| ROIC | -129.2% | 5.4% | 6.8% | 60.3% | 14.9% | N/M | N/M |
| ROE | N/A | N/A | N/A | 66.1% | 5.1% | 916.1% | 0.0% |
| ROA | -66.8% | -1.4% | 6.1% | 4.5% | 0.8% | 70.9% | 126.6% |
| Cash Flow | |||||||
| Op. Cash Flow | -34M | 176M | 14M | 147M | 54M | -92M | -92M |
| Free Cash Flow | -34M | 175M | 11M | 146M | 50M | -94M | -94M |
| Owner Earnings | -86M | 167M | -12M | 103M | -41M | -178M | -178M |
| CapEx | 341K | 1.1M | 3.6M | 895K | 4.2M | 2.2M | 2.2M |
| Maint. CapEx | 48M | 2.3M | 7.7M | 17M | 44M | 49M | 49M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 48M | 2.3M | 7.7M | 17M | 44M | 49M | 49M |
| CapEx/OCF | N/A | 0.6% | 24.8% | 0.6% | 7.8% | N/A | 0.0% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 18M | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | 0.8% | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 32M | 20M | 23M | 18M | 18M |
| Buyback Yield | N/A | N/A | 2.4% | 1.2% | 2.7% | 0.0% | 25.7% |
| Stock-Based Comp | 4.3M | 6.0M | 19M | 28M | 50M | 37M | 37M |
| Debt Repayment | 0 | 28M | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | 586M | -519M | -238M | 30M | -83M | 194M | 297M |
| Cash & Equiv. | 285M | 490M | 252M | 125M | 243M | 103M | 103M |
| Long-Term Debt | 871M | 460M | 265M | 265M | 385M | 383M | 383M |
| Debt/Equity | -3.20 | -0.53 | -0.69 | 2.67 | 1.55 | -4.70 | 0.00 |
| Interest Coverage | -1045.3 | 2.1 | 18.2 | N/A | N/A | -973.2 | -973.2 |
| Equity | -272M | -861M | -383M | 105M | 261M | -85M | -85M |
| Total Assets | 1.2B | 1.4B | 1.2B | 1.6B | 1.6B | 637M | 637M |
| Total Liabilities | 1.4B | 3.1B | 1.5B | 963M | 1.0B | 722M | 722M |
| Intangibles | 67M | 79M | 82M | 241M | 233M | 142M | 142M |
| Retained Earnings | -1.0B | -1.0B | -1.0B | -940M | -930M | -1.4B | -1.4B |
| Working Capital | 77M | 113M | -46M | -242M | -81M | -125M | -125M |
| Current Assets | 408M | 610M | 332M | 246M | 345M | 178M | 178M |
| Current Liabilities | 331M | 497M | 378M | 488M | 426M | 303M | 303M |
| Per Share Data | |||||||
| EPS | -78.45 | -0.80 | 7.20 | 5.20 | 22.40 | -69.20 | -69.20 |
| Owner EPS | -8.76 | 17.14 | -1.26 | 7.68 | -67.97 | -16.51 | -16.51 |
| Book Value | -27.54 | -88.10 | -38.92 | 7.87 | 435.61 | -7.91 | -7.91 |
| Cash Flow/Share | -3.43 | 17.99 | 1.46 | 11.04 | 89.96 | -8.51 | 79.46 |
| Dividends/Share | N/A | 1.81 | 0.00 | N/A | N/A | N/A | 0.00 |
| Shares Out. | 9.9M | 9.8M | 9.8M | 13.3M | 0.6M | 10.8M | 10.8M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | 18.8 | 24.5 | 63.2 | N/A | -0.1 |
| P/FCF | N/A | 12.1 | 123.1 | 11.6 | 0.9 | N/A | N/A |
| EV/EBIT | N/A | 27.1 | 17.2 | 22.6 | 23.4 | N/A | N/A |
| Price/Book | N/A | N/A | N/A | 16.2 | 3.2 | N/A | N/A |
| Price/Sales | N/A | 5.2 | 2.9 | 2.8 | 1.4 | N/A | 0.1 |
| FCF Yield | N/A | 8.3% | 0.8% | 8.6% | 5.9% | N/A | -132.0% |
| Market Cap | N/A | 2.1B | 1.3B | 1.7B | 848M | 0 | 71M |
| Avg. Price | N/A | 236.35 | 179.89 | 149.13 | 97.81 | 0.00 | 6.60 |
| Year-End Price | N/A | 215.80 | 135.40 | 127.40 | 75.80 | 0.00 | 6.60 |
Vivid Seats Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
The company's 5-year average ROIC is 21.9% with a gross margin of 74.8%. Total shareholder yield (buybacks) is 25.7%. At current prices, the estimated annualized return to fair value is -53.9%.
Vivid Seats Inc. (SEAT) has a 5-year average return on invested capital (ROIC) of 21.9%. This indicates strong capital allocation and a potential competitive advantage.
Vivid Seats Inc. (SEAT) has a market capitalization of $71M. It is classified as a small-cap stock.
Vivid Seats Inc. (SEAT) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 25.75%.
Vivid Seats Inc. (SEAT) operates in the Services-Miscellaneous Amusement & Recreation industry, within the Consumer Cyclical sector.
Vivid Seats Inc. (SEAT) reported annual revenue of $571 million in its most recent fiscal year, based on SEC EDGAR filings.
Vivid Seats Inc. (SEAT) has a net profit margin of 141.2%. This is a strong margin indicating high profitability.
Vivid Seats Inc. (SEAT) generated $-94 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Vivid Seats Inc. (SEAT) reported earnings per share (EPS) of $-69.20 in its most recent fiscal year.
Vivid Seats Inc. (SEAT) has a return on equity (ROE) of 916.1%. This indicates the company generates strong returns for shareholders.
Vivid Seats Inc. (SEAT) has a 5-year average gross margin of 74.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 6 years of financial data for Vivid Seats Inc. (SEAT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Vivid Seats Inc. (SEAT) has a book value per share of $-7.91, based on its most recent annual SEC filing.