Vivid Seats Inc. · NASDAQ:SEAT
Vivid Seats — Q3 2021 Earnings Presentation
18 slides from Vivid Seats's earnings presentation, Nov 15, 2021
Slide 1: Vivid Seats Q3 2021 Earnings Report
Vivid Seats Q3 2021 Earnings Report (Nasdaq: SEAT) November 15, 2021
Slide 2: Agenda
Agenda 01 Q3 Business Highlights & Update Stan Chia, Chief Executive Officer 02 Financial Results Lawrence Fey, Chief Financial Officer 03 Q&A Stan Chia, Chief Executive Officer Lawrence Fey, Chief Financial Officer
Slide 3: Forward looking statements and use of non-GAAP financial measures
Forward looking statements and use of non-GAAP financial measures Safe Harbor • This presentation has been prepared by Vivid Seats Inc. and is made for informational purposes only. The information set forth herein does not purport to be complete or to contain all of the information you may desire. Y
Slide 4: Q3 Business Highlights & Updates
Q3 Business Highlights & Updates Stan Chia, Chief Executive Officer
Slide 5: Business Combination Complete
Business Combination Complete Completed business combination with Horizon Acquisition Corporation on October 18, 2021 Began trading on the NASDAQ Global Select Market on October 19, 2021 All net proceeds used to retire debt and optimize capital structure; resulting in cash in excess of debt Vivid Se
Slide 6: Key Q3 Financial Highlights
Key Q3 Financial Highlights Net Loss $2M; Marketplace GOV1 Revenues $713M $140M Adjusted EBITDA2 $42M • Record quarterly • Record quarterly • Record quarterly Marketplace GOV Revenues Adjusted EBITDA • Up from ($31M) in Q3’20 • Up from ($7M) in • Adjusted EBITDA up when cancellations Q3’20 and +21%
Slide 7: Vivid Seats Overview
Vivid Seats Overview Our mission is to enable our fans to Experience It Live. Our two-sided marketplace connects millions of buyers with thousands of sellers Fans Sellers 17 million+ tickets sold1 200,000+ unique events sold Across three major event categories Concerts Sports Theater & Comedy Vivid
Slide 8: Recent Consumer Experience Launches
Recent Consumer Experience Launches New App Re-platformed Web Revamped Loyalty Brand (re)Launch iOS & Android mWeb & Desktop Vivid Seats • 8
Slide 9: Financial Results
Financial Results Lawrence Fey, Chief Financial Officer
Slide 10: Marketplace GOV and Revenues
Marketplace GOV and Revenues (in thousands) Marketplace Marketplace GOV GOV11 Revenues $693,090 $713,062 $139,538 $115,498 $116,473 $24,114 $37,951 ($30,778) $1,395 ($7,082) Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Vivid Seats • 10 (1) Marketplace GOV represent
Slide 11: Net Income/(Loss) and Adjusted EBITDA
Net Income/(Loss) and Adjusted EBITDA (in thousands) GAAP Net Income/(Loss) Adjusted EBITDA1 31.3% 30.1% $2,645 17.4% nm nm $41,965 Adj. EBITDA $36,195 margin % ($1,847) $4,187 ($20,251) ($19,549) ($13,519) ($33,357) ($40,216) Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q
Slide 12: Net Debt and Cash Flow
Net Debt and Cash Flow (in thousands) Cash Flow from Operations Cash as of 9/30/21 $215,262 $488M Term Loan principal balance as of 9/30/21 As compared to $918M $285M as of 12/31/20 ($30,984) Upon the close of the Business Combination, net proceeds were used to repay $452M of Term Loan principal Nin
Slide 13: 2021 Financial Guidance
2021 Financial Guidance Issued October 25, 2021 Key Financial Metrics 2021 Guidance Marketplace GOV $2.225B to $2.325B Revenues $420M to $435M Adjusted EBITDA1 $102M to $107M (1) Adjusted EBITDA is not a measure defined under GAAP. GAAP means generally accepted accounting principles in the United St
Slide 14: Closing Remarks
Closing Remarks Stan Chia, Chief Executive Officer
Slide 15: Key Takeaways
Key Takeaways Record financial Robust financial results and record setting Marketplace GOV, performance in Q3 Revenues and Adjusted EBITDA Brand marketing Brand marketing efforts launched in October initiative underway Poised for 2022 and Customer experience and loyalty upgrades set the table for st
Slide 16: Q&A
QSA vividseats
Slide 17: Thank You!
Thank You! investors@vividseats.com
Slide 18: Non-GAAP Reconciliations
Non-GAAP Reconciliations $000s (1) These expenses relate to sales tax liabilities incurred during the periods presented. We incur sales tax expenses in jurisdictions where we expect to remit sales tax payments. We are in the process of upgrading our IT infrastructure to enable us to collect sales ta