Vivid Seats (NASDAQ: SEAT) announced it would be unveiling its Third Quarter 2021 financial results on Monday, November 15 in the morning prior to the stock market opening. The results will be the first since the company went public last month in a merger with Horizon Acquisitions. Management will discuss the quarterly results on a webcast scheduled for 8:30 a.m.
Those who wish to tune in for the webcast can find details at https://investors.vividseats.com/.
As of Wednesday afternoon, Vivid Seats was trading at approximately $13.29. Just this week, news broke that the company had seen a $7.5 million class action settlement reach final approval, while another multi-million dollar settlement over COVID-related refund disputes was announced by New York Attorney General Letitia James.
In its Q2 earnings report, issued in August prior to its being publicly traded, Vivid Seats reported marketplace gross order value (GOV) of $693.1 million and revenues of $115.5 million, both substantially up from its prior year numbers for the same time period (which was, obviously, dramatically impacted by COVID). In October, the company updated its financial guidance for 2021, indicating it expected its full year 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,” it said in a press release announcing the updated financial guidance. “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.”
The press release announcing the earning report timing from Vivid Seats is available here.