NASDAQ : SEAT
Vivid Seats Inc. — Financial statements
Communication Services · Internet Content & Information · United States
Last price 2.35 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 26.42M
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Financial statements
Vivid Seats Inc. (SEAT) reported revenue of 518.83M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 518.83M | 570.78M | 775.59M | 712.88M | 600.27M | 443.04M |
| Cost of Revenue | 164.32M | 173.44M | 201.85M | 182.18M | 140.51M | 90.62M |
| Gross Profit | 354.51M | 397.34M | 573.73M | 530.70M | 459.77M | 352.42M |
| Selling, General & Admin | 358.59M | 403.93M | 479.83M | 428.58M | 375.99M | 273.53M |
| Other Operating Expenses | 1.99M | 512.00K | 7.44M | |||
| Operating Expenses | 410.64M | 453.83M | 531.51M | 445.75M | 383.73M | 275.85M |
| Operating Income | -56.13M | -56.50M | 42.23M | 84.94M | 76.04M | 76.57M |
| Interest Expense | -24.43M | -23.74M | -23.17M | -13.51M | -12.86M | -58.18M |
| Other Non Operating Income (Expenses) | -4.41M | 152.56M | 3.67M | 3.11M | 8.23M | -89.00K |
| EBT Excluding Unusual Items | -84.97M | 72.32M | 22.72M | 74.54M | 71.41M | 18.30M |
| Merger & Restructuring Charges | -4.60M | -1.30M | ||||
| Impairment of Goodwill | -660.67M | -660.67M | ||||
| Asset Writedown | 258.10M | -62.35M | ||||
| Other Unusual Items | -1.40M | 998.00K | -2.22M | -35.83M | ||
| Pretax Income | -487.54M | -652.11M | 22.72M | 70.94M | 69.19M | -18.82M |
| Income Tax Expense | -10.21M | 69.39M | 8.42M | -42.20M | -1.59M | 304.00K |
| Earnings From Continuing Operations | -477.33M | -721.49M | 14.30M | 113.14M | 70.78M | -19.13M |
| Minority Interest in Earnings | 164.69M | 292.19M | -4.88M | -38.60M | -42.12M | 3.01M |
| Net Income | -312.64M | -429.30M | 9.43M | 74.54M | 28.66M | -16.12M |
| Preferred Dividends & Other Adjustments | -12.84M | |||||
| Net Income to Common | -312.64M | -429.30M | 9.43M | 74.54M | 28.66M | -3.28M |
| Shares Outstanding (Basic) | 9.43M | 7.25M | 6.62M | 4.63M | 4.01M | 3.87M |
| Shares Outstanding (Diluted) | 9.43M | 10.43M | 10.46M | 9.94M | 9.94M | 3.87M |
| EPS (Basic) | -33.17 | -59.20 | 1.42 | 16.08 | 7.14 | -0.85 |
| EPS (Diluted) | -50.64 | -69.20 | 1.12 | 5.15 | 7.12 | -0.88 |
| Free Cash Flow | 7.37M | -93.76M | 49.70M | 146.43M | 10.82M | 174.66M |
| Free Cash Flow Per Share | 0.78 | -8.99 | 4.75 | 14.72 | 1.09 | 45.07 |
| Gross Margin | 68.33% | 69.61% | 73.97% | 74.44% | 76.59% | 79.55% |
| Operating Margin | -10.82% | -9.90% | 5.44% | 11.92% | 12.67% | 17.28% |
| Profit Margin | -60.26% | -75.21% | 1.21% | 10.46% | 4.78% | -0.74% |
| Free Cash Flow Margin | 1.42% | -16.43% | 6.41% | 20.54% | 1.80% | 39.42% |
| EBITDA | -6.08M | -7.10M | 86.46M | 102.12M | 83.77M | 78.89M |
| EBITDA Margin | -1.17% | -1.24% | 11.15% | 14.32% | 13.96% | 17.81% |
| D&A For EBITDA | 50.05M | 49.39M | 44.24M | 17.18M | 7.73M | 2.32M |
| EBIT | -56.13M | -56.50M | 42.23M | 84.94M | 76.04M | 76.57M |
| EBIT Margin | -10.82% | -9.90% | 5.44% | 11.92% | 12.67% | 17.28% |
| Effective Tax Rate | 37.05% | |||||
| Advertising Expenses | 180.70M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 136.68M | 102.70M | 243.48M | 125.48M | 251.54M | 489.53M |
| Cash & Short-Term Investments | 136.68M | 102.70M | 243.48M | 125.48M | 251.54M | 489.53M |
| Accounts Receivable | 45.04M | 30.66M | 48.31M | 52.52M | 32.30M | 36.12M |
| Other Receivables | 5.96M | 4.23M | ||||
| Receivables | 45.04M | 30.66M | 48.31M | 58.48M | 36.53M | 36.12M |
| Inventory | 26.93M | 18.17M | 19.60M | 21.02M | 12.78M | 11.77M |
| Prepaid Expenses | 8.21M | 9.81M | 7.39M | 8.22M | 6.03M | 9.57M |
| Restricted Cash | 904.00K | 604.00K | 1.17M | 6.95M | 748.00K | 280.00K |
| Other Current Assets | 30.98M | 16.53M | 25.22M | 25.84M | 23.88M | 62.93M |
| Total Current Assets | 248.73M | 178.47M | 345.17M | 245.99M | 331.52M | 610.21M |
| Property, Plant & Equipment | 21.04M | 22.89M | 24.57M | 19.98M | 18.29M | 1.08M |
| Long-Term Investments | 4.68M | 4.24M | 3.60M | 2.87M | ||
| Goodwill | 283.47M | 283.92M | 943.12M | 947.36M | 715.26M | 718.20M |
| Other Intangible Assets | 96.65M | 112.86M | 207.31M | 223.88M | 67.75M | 78.51M |
| Long-Term Deferred Tax Assets | 1.30M | 1.12M | 77.97M | 85.56M | ||
| Long-Term Deferred Charges | 27.52M | 28.67M | 25.81M | 17.27M | 14.22M | |
| Other Long-Term Assets | 5.42M | 4.70M | 8.54M | 7.18M | 4.39M | 787.00K |
| Total Assets | 688.80M | 636.87M | 1.64B | 1.55B | 1.15B | 1.41B |
| Accounts Payable | 230.85M | 153.42M | 232.98M | 257.51M | 161.31M | 191.20M |
| Accrued Expenses | 39.42M | 43.42M | 56.89M | 77.42M | 51.29M | 36.59M |
| Current Portion of Long-Term Debt | 3.93M | 3.93M | 3.95M | 3.93M | 2.75M | |
| Current Portion of Leases | 2.31M | 1.97M | 2.06M | 579.00K | 3.44M | |
| Current Income Taxes Payable | 9.33M | |||||
| Current Unearned Revenue | 70.14M | 72.29M | 79.59M | 98.99M | 120.15M | 25.14M |
| Other Current Liabilities | 34.25M | 27.91M | 50.40M | 47.85M | 41.94M | 231.80M |
| Total Current Liabilities | 378.59M | 303.28M | 425.79M | 487.76M | 378.01M | 497.50M |
| Long-Term Debt | 381.84M | 383.43M | 384.96M | 264.63M | 264.90M | 437.52M |
| Long-Term Leases | 15.26M | 16.45M | 18.73M | 16.21M | 14.91M | 22.61M |
| Other Long-Term Liabilities | 18.20M | 18.83M | 192.59M | 194.73M | 13.45M | 25.83M |
| Total Liabilities | 793.88M | 722.00M | 1.02B | 963.34M | 671.27M | 983.46M |
| Common Stock | 23.00K | 23.00K | 22.00K | 22.00K | 20.00K | 20.00K |
| Additional Paid-In Capital | 1.38B | 1.37B | 1.27B | 1.10B | 663.91M | 182.09M |
| Retained Earnings | -1.39B | -1.36B | -930.17M | -939.60M | -1.01B | -1.04B |
| Treasury Stock | -93.92M | -93.92M | -75.57M | -52.59M | -32.49M | |
| Comprehensive Income & Other | 555.00K | 173.00K | -880.00K | 747.00K | ||
| Total Common Equity | -105.08M | -85.13M | 261.11M | 105.02M | -382.70M | -860.68M |
| Minority Interest | 352.92M | 481.74M | 862.86M | 1.29B | ||
| Shareholders' Equity | -105.08M | -85.13M | 614.03M | 586.76M | 480.16M | 425.33M |
| Total Liabilities & Equity | 688.80M | 636.87M | 1.64B | 1.55B | 1.15B | 1.41B |
| Total Debt | 401.03M | 406.12M | 409.61M | 286.84M | 283.14M | 463.57M |
| Net Cash (Debt) | -264.35M | -303.42M | -166.13M | -161.35M | -31.60M | 25.96M |
| Net Cash Per Share | -28.04 | -29.10 | -15.89 | -16.23 | -3.18 | 6.70 |
| Filing Date Shares Outstanding | 11.24M | 10.77M | 6.63M | 6.70M | 3.86M | 3.96M |
| Total Common Shares Outstanding | 11.24M | 10.76M | 6.62M | 6.69M | 3.90M | 3.95M |
| Working Capital | -129.85M | -124.81M | -80.61M | -241.77M | -46.50M | 112.72M |
| Book Value Per Share | -9.35 | -7.91 | 39.45 | 15.69 | -98.04 | -217.64 |
| Tangible Book Value | -485.20M | -481.90M | -889.32M | -1.07B | -1.17B | -1.66B |
| Tangible Book Value Per Share | -43.16 | -44.78 | -134.35 | -159.29 | -298.64 | -419.11 |
| Machinery | 6.41M | 5.14M | 4.50M | 3.56M | 568.00K | |
| Construction In Progress | 55.00K | 2.17M | 564.00K | |||
| Leasehold Improvements | 11.18M | 8.69M | 7.66M | 7.47M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -312.64M | -429.30M | 9.43M | 74.54M | 28.66M | -16.12M |
| Depreciation & Amortization | 51.57M | 50.91M | 45.94M | 18.00M | 9.90M | 2.32M |
| Other Amortization | 959.00K | 970.00K | 988.00K | 924.00K | 1.05M | 4.47M |
| Loss (Gain) From Sale of Assets | 445.00K | 555.00K | 277.00K | 685.00K | 369.00K | |
| Asset Writedown & Restructuring Costs | 402.57M | 723.02M | ||||
| Stock-Based Compensation | 23.42M | 36.73M | 50.43M | 27.61M | 19.05M | 6.05M |
| Other Operating Activities | -162.21M | -370.56M | -121.00K | -10.62M | 36.11M | 59.42M |
| Change in Accounts Receivable | 3.93M | 17.55M | 9.78M | -17.13M | -329.00K | -874.00K |
| Change in Inventory | 5.69M | 1.43M | 1.41M | -8.18M | -1.01M | -4.31M |
| Change in Accounts Payable | 27.60M | -79.46M | -23.69M | 53.82M | -30.78M | 128.16M |
| Change in Unearned Revenue | -2.65M | -3.83M | -10.87M | 827.00K | 6.84M | 19.18M |
| Change in Other Net Operating Assets | -31.17M | -41.64M | -29.64M | 6.86M | -55.50M | -22.51M |
| Operating Cash Flow | 7.52M | -91.60M | 53.92M | 147.32M | 14.38M | 175.79M |
| Capital Expenditures | -144.00K | -2.16M | -4.23M | -895.00K | -3.56M | -1.13M |
| Cash Acquisitions | -417.00K | -206.87M | -8.00K | 301.00K | ||
| Sale (Purchase) of Intangibles | -15.29M | -18.01M | -20.10M | -11.88M | -11.85M | -8.51M |
| Other Investing Activities | -6.00M | |||||
| Investing Cash Flow | -15.44M | -20.17M | -26.74M | -225.64M | -15.41M | -9.35M |
| Long-Term Debt Issued | 76.99M | 125.50M | 275.00M | |||
| Total Debt Issued | 76.99M | 125.50M | 275.00M | |||
| Long-Term Debt Repaid | -79.93M | -5.32M | -3.03M | -467.77M | -413.01M | |
| Total Debt Repaid | -3.93M | -79.93M | -5.32M | -3.03M | -467.77M | -413.01M |
| Net Debt Issued (Repaid) | -3.93M | -2.95M | 120.18M | -3.03M | -192.77M | -413.01M |
| Issuance of Common Stock | 475.17M | |||||
| Repurchase of Common Stock | -3.27M | -20.19M | -23.70M | -20.09M | -32.49M | |
| Other Financing Activities | -379.00K | -6.24M | -10.41M | -20.31M | -11.21M | 229.59M |
| Financing Cash Flow | -7.58M | -29.37M | 86.08M | -43.43M | -236.48M | 38.03M |
| Foreign Exchange Rate Adjustments | -909.00K | -200.00K | -1.04M | 1.90M | ||
| Net Cash Flow | -16.41M | -141.34M | 112.21M | -119.86M | -237.52M | 204.47M |
| Free Cash Flow | 7.37M | -93.76M | 49.70M | 146.43M | 10.82M | 174.66M |
| Free Cash Flow Margin | 1.42% | -16.43% | 6.41% | 20.54% | 1.80% | 39.42% |
| Free Cash Flow Per Share | 0.78 | -8.99 | 4.75 | 14.72 | 1.09 | 45.07 |
| Levered Free Cash Flow | 21.17M | -78.61M | 41.85M | 144.95M | -24.58M | 185.99M |
| Unlevered Free Cash Flow | 35.48M | -64.75M | 55.34M | 152.47M | -17.59M | 217.88M |
| Cash Interest Paid | 24.88M | 27.68M | 19.50M | 19.33M | 14.79M | 72.74M |
| Cash Income Tax Paid | 4.68M | 6.37M | 5.47M | 4.02M | ||
| Change in Working Capital | 3.40M | -105.95M | -53.01M | 36.19M | -80.77M | 119.65M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 29.79M | 77.33M | 608.94M | 852.52M | 593.46M | 837.20M |
| Enterprise Value | 294.14M | 400.81M | 1.09B | 1.51B | 1.51B | 1.50B |
| Last Close Price | 2.31 | 7.21 | 92.60 | 126.40 | 146.00 | 217.60 |
| PE Ratio | 64.61 | 11.44 | 20.71 | |||
| Forward PE | 53.67 | 37.20 | 18.75 | 22.42 | 51.24 | |
| PS Ratio | 0.06 | 0.14 | 0.79 | 1.20 | 0.99 | 1.89 |
| PB Ratio | -0.91 | 0.99 | 1.45 | 1.24 | 1.97 | |
| P/FCF Ratio | 3.98 | 12.25 | 5.82 | 54.86 | 4.79 | |
| P/OCF Ratio | 3.90 | 11.29 | 5.79 | 41.28 | 4.76 | |
| PEG Ratio | 8.83 | 8.83 | 2.04 | 1.66 | ||
| EV/Sales Ratio | 0.57 | 0.70 | 1.41 | 2.12 | 2.51 | 3.38 |
| EV/EBITDA Ratio | 12.65 | 14.78 | 18.01 | 18.98 | ||
| EV/EBIT Ratio | 25.91 | 17.77 | 19.84 | 19.56 | ||
| EV/FCF Ratio | 39.83 | 22.02 | 10.31 | 139.46 | 8.57 | |
| Debt / Equity Ratio | -3.82 | -4.77 | 0.67 | 0.49 | 0.59 | 1.09 |
| Debt / EBITDA Ratio | 4.58 | 2.75 | 3.24 | 5.61 | ||
| Debt / FCF Ratio | 54.39 | 8.24 | 1.96 | 26.18 | 2.65 | |
| Net Debt / Equity Ratio | -2.52 | -3.56 | 0.27 | 0.28 | 0.07 | -0.06 |
| Net Debt / EBITDA Ratio | -43.51 | -42.71 | 1.92 | 1.58 | 0.38 | -0.33 |
| Net Debt / FCF Ratio | 35.85 | -3.24 | 3.34 | 1.10 | 2.92 | -0.15 |
| Asset Turnover | 0.56 | 0.50 | 0.49 | 0.53 | 0.47 | 0.34 |
| Inventory Turnover | 5.52 | 9.19 | 9.94 | 10.78 | 11.44 | 9.42 |
| Quick Ratio | 0.48 | 0.44 | 0.69 | 0.38 | 0.76 | 1.06 |
| Current Ratio | 0.66 | 0.59 | 0.81 | 0.50 | 0.88 | 1.23 |
| Return on Equity (ROE) | -395.99% | -272.82% | 2.38% | 21.21% | 15.63% | -10.02% |
| Return on Assets (ROA) | -3.82% | -3.11% | 1.66% | 3.93% | 3.71% | 3.73% |
| Return on Invested Capital (ROIC) | -17.79% | -10.14% | 3.48% | 13.48% | 16.69% | 12.48% |
| Return on Capital Employed (ROCE) | -18.10% | -16.90% | 3.50% | 8.00% | 9.80% | 8.40% |
| Earnings Yield | -1,910.99% | -555.16% | 1.55% | 8.74% | 4.83% | -1.93% |
| FCF Yield | 25.13% | -121.25% | 8.16% | 17.18% | 1.82% | 20.86% |
| Buyback Yield / Dilution | -43.12% | 0.29% | -5.16% | -0.07% | -156.45% |