Vivid Seats Q4 revenue misses on weak demand
Overview
U.S. ticket marketplace's Q4 revenue fell 37% yr/yr, missing analyst expectations
Adjusted EBITDA for Q4 missed analyst expectations, dropping sharply from prior year
Company posted large net loss due to non-cash impairment charges
Outlook
Vivid Seats sees Q1 2026 Marketplace GOV between $570 mln and $620 mln
Company expects Q1 2026 adjusted EBITDA of $8 mln to $10 mln
Vivid Seats forecasts 2026 Marketplace GOV of $2.2 bln to $2.6 bln
Result Drivers
IMPAIRMENT CHARGES - Co said Q4 results were significantly affected by non-cash impairment charges related to goodwill and intangible assets, triggered by declines in financial performance and outlook
WEAKER DEMAND - Q4 revenue and gross order value fell sharply yr/yr, with management citing recent declines in financial performance and near-term outlook
COST REDUCTION PROGRAM - Co highlighted ongoing cost reduction efforts as a positive, though these did not offset declines in business metrics
Company press release: ID:nGNX6XHPlt
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Miss | $126.80 mln | $137.14 mln (9 Analysts) |
Q4 Net Income |
| -$428.70 mln |
|
Q4 Adjusted EBITDA | Miss | $800,000 | $4.57 mln (8 Analysts) |
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