Online ticket marketplace Vivid Seats' Q3 revenue beats estimates; to reduce debt
Overview
U.S. ticket marketplace's Q3 revenue slightly beat analyst expectations
Adjusted EBITDA for Q3 rose and beat analyst estimates
Company reached agreement in principle for recapitalization to reduce debt by $200 mln
Outlook
Vivid Seats expects 2026 Marketplace GOV between $2.3 bln and $2.6 bln
Company sees 2026 adjusted EBITDA in the range of $34 mln to $40 mln
Result Drivers
EVENT CANCELLATIONS - Company said event cancellations negatively impacted Marketplace GOV by $10.2 mln in Q3, down from $11.4 mln a year earlier
LOWER MARKETPLACE ORDERS - Marketplace orders declined to 1,876 in Q3 from 2,101 a year earlier, reflecting fewer transactions on the platform
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Slight Beat* | $126.90 mln | $126.11 mln (7 Analysts) |
Q3 Net Loss | $17.40 mln | ||
Q3 Adjusted EBITDA | Beat | $8.90 mln | $7.37 mln (7 Analysts) |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the online services peer group is "buy."
Wall Street's median 12-month price target for Vivid Seats Inc is $12.00, about 474.2% above its November 6 closing price of $2.09
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)