Business
Vivid Seats Updates 2021 Financial Guidance
Files 8-K with the U.S. Securities and Exchange Commission CHICAGO, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (“Vivid Seats” or the “Company”), a
About this update from Vivid Seats Inc.
[{"type":"text","content":"Files 8-K with the U.S. Securities and Exchange Commission\nCHICAGO, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Vivid Seats Inc. (“Vivid Seats” or the “Company”), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today announced that it had filed an 8-K with the U.S. Securities and Exchange Commission (“SEC”) providing guidance regarding its financial and operational trends. For the full-year 2021, the Company expects Marketplace GOV to be in the range of $2,225,000,000 to $2,325,000,000(1), Revenues to be in the range of $420,000,000 to $435,000,000 and Adjusted EBITDA to be in the range of $102,000,000 to $107,000,000(2). While the COVID-19 pandemic has had, and may continue to have, material impacts on the Company’s business and operating results, the Company anticipates a smaller degree of impact on the above financial and operational results for full year 2021 than originally anticipated. The Company expects this off-cycle guidance to be a unique circumstance and hereafter expects to provide annual guidance at a regularly scheduled time each year. On October 18, 2021, Vivid Seats completed a business combination with Horizon Acquisition Corporation. On October 19, 2021, the common stock and warrants of the Company began trading on the Nasdaq Global Market under the symbols “SEAT” and “SEATW,” respectively. About Vivid Seats Founded in 2001, Vivid Seats is a leading online ticket marketplace committed to becoming the ultimate partner for connecting fans to the live events, artists, and teams they love. Based on the belief that everyone should “Experience It Live”, the Chicago-based company provides exceptional value by providing one of the widest selections of events and tickets in North America and an industry leading Vivid Seats Rewards program where all fans earn on every purchase. Vivid Seats has been chosen as the official ticketing partner by some of the biggest brands in the entertainment industry including ESPN, Rolling Stone, and the Los Angeles Clippers. Through its proprietary software and unique technology, Vivid Seats drives the consumer and business ecosystem for live event ticketing and enables the power of shared experiences to unite people. Vivid Seats is recognized by Newsweek as America’s Best ...