Vivid Seats Reports Net Loss in Q1, Citing “Uncertainty”
Vivid Seats reported a net loss for the first quarter of 2025, citing intensified competition and softer industry trends across the live events landscape. WIth the news, Vivid Seats saw a sharp drop in its share price (NASDAQ: SEAT) as markets opened Tuesday – trading at $1.86 as of 10 a.m. – down over 30% over Monday’s closing price of $2.79.
“In the first quarter we continued to see robust competitive intensity and softening industry trends amidst consumer uncertainty,” said Stan Chia, chief executive officer of Vivid Seats. “Despite these headwinds, we remain confident in the resiliency of our industry and the long-term tailwinds driving North American live events.”
The Chicago-based ticket marketplace posted a net loss of $9.8 million for the quarter ending March 31, compared to net income of $10.7 million during the same period in 2024. Revenue declined 14% year over year, landing at $164 million, while Marketplace Gross Order Value (GOV) totaled $820.4 million, down 20% from the $1.03 billion recorded in the first quarter of 2024.
Executives highlighted the company’s “cost-disciplined approach” and a focus on managing for the long term. Adjusted EBITDA, a non-GAAP measure the company uses to gauge its performance, stood at $21.7 million, a 44% drop from last year’s $38.9 million.
Looking ahead, Vivid Seats said it is suspending its 2025 financial guidance. Chief Financial Officer Lawrence Fey attributed the move to “elevated uncertainty across the global economy, the health of the consumer, and the performance marketing landscape.”
“We currently anticipate industry volumes to be flat-to-down for the year versus our prior expectation of mid-to-high single digit growth,” Fey said. “We will face easier year-over-year comps in the second half of the year, but anticipate competitive intensity to persist and continue to pressure results.”
Chia underscored that while the immediate outlook is tempered by macroeconomic concerns and tighter consumer spending, the company remains focused on targeted marketing and technological investments to drive future growth.
