Vivid Seats Inc. · NASDAQ:SEAT
Vivid Seats — Q1 2025 Earnings Presentation
17 slides from Vivid Seats's earnings presentation, May 6, 2025
Slide 1: Q1 2025 Financial Results
Q1 2025 Financial Results May 6, 2025 (Nasdaq: SEAT)
Slide 2: Agenda
Agenda 1 Business Highlights & Updates Stan Chia, Chief Executive Officer 2 Financial Results & Outlook Lawrence Fey, Chief Financial Officer 3 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: Q1 2025 Overview
Q1 2025 Overview Marketplace GOV1 Revenues Adjusted EBITDA2 $820M $164M $22M • Pursuing balance across volume and unit economics in competitive environment with muted industry growth • Despite current consumer uncertainties, we continue to believe in the long-term resiliency of the industry (1) Mark
Slide 6: Financial Results & Outlook
Financial Results & Outlook Lawrence Fey, Chief Financial Officer
Slide 7: Marketplace GOV & Revenues
Marketplace GOV & Revenues (in thousands) Marketplace GOV1 Revenues $1,028,477 $998,065 $994,377 $198,316 $199,813 $190,852 $186,605 $871,726 $164,023 $820,359 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 1.(1) Marketplace GOVrepresents Marketplace GOV representsth
Slide 8: Net Income (Loss) & Adjusted EBITDA
Net Income (Loss) & Adjusted EBITDA (in thousands) Net Income (Loss)1 Adjusted EBITDA2 $50,000 $50,000 27% $45,000 $44,178 27% $40,000 $40,000 $38,920 22% 22% $30,000 22% $34,077 $34,243 $35,000 20% 17% 17% 18% $30,000 17% $20,000 $10,742 Adj. EBITDA 12% margin % 12% $25,000 13% $9,196 $21,721 $10,0
Slide 9: Cash Generation & Balance Sheet
Cash Generation & Balance Sheet 2023 2024 Future $116M Cash Generated1,3 Strong Balance Sheet Growth & Cash Generation1,3 $213M deployed for ~1x LTM Deliver substantial strategic acquisitions & net leverage at 12/312,3 cash generation / adjusted EBITDA investments at long-term growth rates1,3 $20M d
Slide 10: Closing Remarks
Closing Remarks Stan Chia, Chief Executive Officer
Slide 11: Key Takeaways
Key Takeaways Long-Term Secular Growth in Live Events While current economic uncertainty makes near-term growth less clear, we anticipate structural tailwinds will lead to long-term growth in live events Executing with Discipline & Investing for Growth Balancing efforts to navigate muted industry gr
Slide 12: Q+A
Q+A
Slide 13: Thank You
Thank You investors@vividseats.com
Slide 14: Capital Structure
Capital Structure 208.6M Shares Outstanding1 at 3/31/25 CLASS A CLASS B Class A 132.4 Class B 76.2 M M • Publicly traded (Nasdaq: SEAT) • Privately held by PE investors • EPS reflects ~63% economic • Convertible 1-for-1 into Class A interest and shares outstanding • Consolidated financial statements
Slide 15: Supplementary Financial Data
Supplementary Financial Data Historical Average Order Size1 ($) Vegas.com & Wavedash acquisitions dilute AOS starting Q4’23 405 397 385 388 376 380 374 368 363 Venue and 355 358artist mix shift 357 338 329 331 322 299 303 304 3-4% historical CAGR 294 285 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2021 Q2 20
Slide 16: Supplementary Financial Data
Supplementary Financial Data (in thousands, except share and per share data) Marketplace Revenues by Event Category Earnings Per Share Three Months Ended March 31, Three Months Ended March 31, 2025 2024 % Change Numerator—basic: 2025 2024 Concerts $58,154 $68,029 -15% -$9,788 $10,742 Net income (los
Slide 17: Non-U.S. GAAP Reconciliations
Non-U.S. GAAP Reconciliations (in thousands, except percentages) 2024 2025 2024 2025 Q1 20 24 Q2 20 24 Q3 20 24 Q4 20 24 Q1 20 25 Q1 20 24 Q2 20 24 Q3 20 24 Q4 20 24 Q1 20 25 Net income (loss) / Net income (loss) margin $10 ,742 -$1,221 $9,196 -$4,415 -$9,788 5.6% -0 .6% 4.9% -2.2% -6.0 % Income tax