Vivid Seats Inc. · NASDAQ:SEAT
Vivid Seats — Q4 2024 Earnings Presentation
20 slides from Vivid Seats's earnings presentation, Mar 12, 2025
Slide 1: Q4 2024 Financial Results
Q4 2024 Financial Results March 12, 2025 (Nasdaq: SEAT)
Slide 2: Agenda
Agenda 01 Business Highlights & Updates Stan Chia, Chief Executive Officer 02 Financial Results & Outlook Lawrence Fey, Chief Financial Officer 03 Q&A Stan Chia, Chief Executive Officer Lawrence Fey, Chief Financial Officer
Slide 3: Important Disclaimers
Important Disclaimers Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “can,” “continue,” “could,” “design,” “esti
Slide 4: Business Highlights & Updates
Business Highlights & Updates Stan Chia, Chief Executive Officer
Slide 5: Q4 2024 Highlights
Q4 2024 Highlights Marketplace GOV1 Revenues Adjusted EBITDA2 $994M $200M $34M • Maintained strong unit economics while starting to monetize Skybox Drive • Signed United Airlines along with a robust pipeline of new partnerships that are expected to ramp volume in 2025 • Anticipate industry growth in
Slide 6: 2024 Highlights
2024 Highlights Marketplace GOV1 Revenues Adjusted EBITDA2 $3.9B $776M $151M • Maintained unit economics amidst muted industry backdrop after robust growth in 2022 and 2023 • Built technology infrastructure for international expansion and began European launch • Focused on product differentiation an
Slide 7: Harnessing Repeat Orders through Loyalty Program and Differentiation
Harnessing Repeat Orders through Loyalty Program and Differentiation Order Mix from Repeat Buyers1,2 61% 60% 57% 52% 51% 48% FY2018 FY2019 FY2021 FY2022 FY2023 FY2024 (1) Represents orders from repeat buyers vs. total orders (from both repeat and new buyers) placed on Vivid Seats website and Vivid S
Slide 8: Financial Results & Outlook
Financial Results & Outlook Lawrence Fey, Chief Financial Officer
Slide 9: Marketplace GOV and Revenues
Marketplace GOV and Revenues (in thousands) Marketplace GOV1 Revenues $1,112,326 $198,303 $198,316 $199,813 $190,852 $1,028,477 $186,605 $998,065 $994,377 $871,726 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 1. Marketplace GOV represents the total transactional am
Slide 10: Net Income / (Loss) and Adjusted EBITDA
Net Income / (Loss) and Adjusted EBITDA (in thousands) U.S. GAAP Net Income / (Loss)1 Adjusted EBITDA2 $50,000 $50,000 27% $45,000 $44,178 27% $38,920 $40,000 $40,000 22% 22% $35,103 22% $34,077 $34,243 $30,000 $28,525 $35,000 20% 18% 17% 17% $30,000 18% 17% Adj. EBITDA 14% 12% margin % 12% $25,000
Slide 11: 2025 Financial Guidance
2025 Financial Guidance Key Financial Metrics 3/12/25 Marketplace GOV $3.7B to $4.1B Revenues $730M to $810M Adjusted EBITDA1 $110M to $150M (1) Adjusted EBITDA is a non-U.S. GAAP financial measure. See “Important Disclaimers.” We calculate forward- looking adjusted EBITDA based on internal forecast
Slide 12: Cash Generation & Balance Sheet
Cash Generation & Balance Sheet 2023 2024 2025 & Beyond $116M Cash Generated1,4 Strong Balance Sheet Continued Cash Generation $213M deployed for ~1x LTM 60-70% Cash generation / strategic acquisitions & net leverage at 12/312,4 Adjusted EBITDA at long-term investments growth rates1,3,4 $243M cash a
Slide 13: Closing Remarks
Closing Remarks Stan Chia, Chief Executive Officer
Slide 14: Key Takeaways
Key Takeaways Continued Growth of Live Events Concert announcements to date are supportive of industry growth in 2025 that is consistent with the historical trendline. We expect to return to topline growth towards the second half of 2025 after we lap more difficult comps in the first half. Driving E
Slide 15: Q+A
Q+A
Slide 16: Thank You
Thank You investors@vividseats.com
Slide 17: Capital Structure
Capital Structure 208.6M Shares Outstanding1 as of 12/31/24 CLASS A CLASS B Class A Class B 132.4 M 76.2 M • Publicly traded (SEAT) • Privately held by • EPS calculation reflects PE investors ~63% economic interest and • Convertible 1-for-1 ~63% shares outstanding into Class A • Consolidated financi
Slide 18: Supplementary Financial Data – Historical AOS
Supplementary Financial Data – Historical AOS1 Average Order Size ($) Vegas.com & Wavedash acquisitions dilute AOS starting 405 Q4’23 397 385 388 376 380 374 368 363 355 358 Venue and artist mix 338 shift 331 322 303 304 3-4% historical CAGR 294 Q4 2019 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 202
Slide 19: Supplementary Financial Data – 2024
Supplementary Financial Data – 2024 (in thousands except for share counts and EPS) Marketplace Revenues by Event Category EPS Twelve Months Ended December 31, Twelve Months Ended December 31, 2024 2023 % Change Numerator—basic: 2024 2023 Revenues: Net income $14,302 $113,141 Concerts $283,192 $308,5
Slide 20: Non-U.S. GAAP Reconciliations
Non-U.S. GAAP Reconciliations (in thousands except for percentages) 2023 2024 2023 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Net income (loss) / Net income (loss) margin $30,272 $38,326 $16,018 $28,525 $10,742