Vivid Seats Inc.

Listed Company

SEATWCIK 0001856031NasdaqAcceleratedSmaller ReportingEmerging GrowthServices-Miscellaneous Amusement & RecreationDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$806.05M

Total Assets

$636.87M

Equity

$-85.13M

Shares Out

10.77M

Op. Cash Flow

$-91.60M

Business

Vivid Seats Inc. is an online ticket marketplace that operates a technology platform to connect fans of live events with ticket sellers. It offers ticket discovery and purchase services, hotel and package bookings, a rewards program, the Vivid Picks fantasy sports app and Game Center, and seller tools including the Skybox ERP and Skybox Drive. The company operates through two business segments — Marketplace and Resale — facilitating ticket transactions, referrals, and inventory resale. It distributes via its websites and mobile applications (including Vivid Seats, Vegas.com, and Wavedash), APIs, media and distribution partners, and other third-party channels across the U.S., Japan, and partner markets.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	49	44	17	8	2
Impairment charges	723	0	0	0	0
Change in fair value of contingent consideration	0	0	−998,000	−2	0
Loss on extinguishment of debt	801,000	0	0	4	36
Income (loss) before income taxes	−652	23	71	69	−19
Income tax expense (benefit)	69	8	−42	−2	304,000
Net income (loss)	−721	14	113	29	−19
Net income (loss) attributable to redeemable noncontrolling interests	−429	9	75	29	—
Net income (loss) attributable to Class A common stockholders	806	13	69	71	−5
Basic (per share)	—	—	16.08	—	—
Diluted (per share)	—	1.12	5.15	—	—
Basic (shares)	—	—	5	—	—
Diluted (shares)	—	10	10	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	103	243	125	252	490
Restricted cash	604,000	1	7	748,000	280,000
Accounts receivable- net	31	48	58	37	36
Inventory - net	18	20	21	13	12
Prepaid expenses and other current assets	26	33	34	30	73
Total current assets	178	345	246	332	610
Property and equipment - net	12	13	10	10	1
Right-of-use assets - net	11	12	10	8	0
Intangible assets - net	142	233	241	82	79
Goodwill - net	284	943	947	715	718
Deferred tax assets - net	1	78	86	0	—
Investments	5	7	7	0	—
Other assets	4	5	3	4	787,000
Total Assets	637	1,636	1,550	1,151	1,409
Accounts payable	153	233	258	161	191
Accrued expenses and other current liabilities	126	165	192	182	281
Deferred revenue	20	24	35	32	25
Current maturities of long-term debt	4	4	4	3	0
Total current liabilities	303	426	488	378	497
Long-term debt - net	383	385	265	265	460
Long-term lease liabilities	16	19	16	15	0
TRA liability	0	156	166	0	—
Other liabilities	19	37	29	13	26
Total liabilities	722	1,022	963	—	—
Commitments and contingencies (Note 18)	—	—	—	—	—
Redeemable noncontrolling interests	0	353	482	863	1,286
Additional paid-in capital	1,368	1,268	1,096	664	182
Treasury stock, at cost, 949,665 and 571,687 shares at December 31, 2025 and 2024, respectively	−94	−76	−53	−32	0
Accumulated deficit	−1,359	−930	−940	−1,014	−1,043
Accumulated other comprehensive income (loss)	173,000	−880,000	747,000	0	—
Total shareholders' equity (deficit)	−85	261	105	−383	—
Total liabilities, redeemable noncontrolling interests, and shareholders' equity (deficit)	637	1,636	1,550	1,151	1,409

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Amortization of leases	2	2	818,000	2	0
Amortization of deferred financing costs	970,000	988,000	924,000	1	4
Equity-based compensation	37	50	28	19	6
Change in fair value of warrants	−6	−4	−971,000	−8	1
Loss on asset disposals	555,000	277,000	685,000	369,000	0
Change in fair value of derivative asset	2	800,000	−536,000	0	0
Deferred income tax expense (benefit)	75	1	−45	−2	—
Non-cash interest income - net	651,000	−890,000	−261,000	0	0
Unrealized foreign currency loss (gain)	−126,000	4	−2	0	0
Adjustment of liabilities under TRA	−151	−6	574,000	0	0
Write-off of Sponsorship Loan	2	0	0	—	—
Accounts receivable - net	18	10	−17	−329,000	−874,000
Inventory - net	1	1	−8	−1	−4
Prepaid expenses and other current assets	6	1	−1	43	8
Accounts payable	−79	−24	54	−31	128
Accrued expenses and other current liabilities	−36	−30	1	−94	14
Deferred revenue	−4	−11	827,000	7	19
Long-term Lease Liabilities	−2	−994,000	0	0	—
Other assets and liabilities - net	−9	358,000	7	−4	−189,000
Net cash provided by operating activities	−92	54	147	14	176
Purchases of property and equipment	−2	−4	−895,000	−4	−1
Purchases of personal seat licenses	−983,000	−737,000	−542,000	−165,000	−76,000
Investments in developed technology	−16	−19	−11	−12	−8
Disbursement of Sponsorship Loan	0	−2	0	0	—
Payments toward Acquired Domain Name Obligation	0	−417,000	0	—	—
Transfer of cash consideration during 2023 Acquisitions, net of cash acquired	0	0	−207	−8,000	301,000
Investment in Note and Warrant	0	0	−6	0	0
Net cash used in investing activities	−20	−27	−226	−15	−9
Payments of Shoko Chukin Bank Loan	0	−3	−279,000	0	—
Payments of Acquired Domain Name Obligation	−2	0	0	0	—
Repurchases of Class A common stock	−18	−23	−20	—	—
Tax distributions to redeemable noncontrolling interests	−2	−10	−14	—	—
Payments of deferred financing costs and other debt-related expenses	−162,000	−315,000	0	−5	0
Payments of taxes related to net settlement of equity incentive awards	−2	−714,000	0	0	—
Payment of liabilities under TRA	−4	−77,000	0	0	—
Mergers and exchange of Class B common stock for Class A common stock in connection with Corporate Simplification	2	0	0	0	278
Cash paid for milestone payments	0	0	−6	−1	0
Net cash provided by (used in) financing activities	−29	86	−43	−236	38
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	−200,000	−1	2	0	0
Net increase (decrease) in cash and cash equivalents and restricted cash	−141	112	−120	−238	204
Cash paid for interest	28	19	19	15	73
Cash paid for income tax	6	5	4	0	0
Cash paid for operating lease liabilities	3	3	1	3	0
Equity-based compensation expense related to capitalized development costs	650,000	766,000	428,000	79,000	0
Right-of-use assets obtained in exchange for operating lease liabilities	0	5	0	3	0
Repurchase Of Common Stock Recorded In Accounts Payable	57,000	0	0	—	—
Property and equipment acquired through tenant improvement allowance	0	651,000	0	6	0
Tax Distribution to Redeemable Noncontrolling Interests Recorded in Prepaid Expenses and Other Current Assets	239,000	0	0	—	—
Domain obtained through Acquired Domain Name Obligation	0	17	0	0	—
Reduction of deferred tax assets under the repurchases of Class A common stock, net of tax impacts	0	2	0	0	—
Transfer of non-cash consideration during Vegas.com Acquisition	0	0	95	0	21
Establishment of liabilities under TRA	0	0	165	0	0
Establishment of deferred tax assets under 2023 Secondary Offerings and other equity transactions	0	0	67	0	0

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro