NYSE$SEAT
Vivid Seats Inc (Class A) · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Vivid Seats reported Q4 2025 revenue of $126.8M and a net loss of $428.7M.
Q4 marketplace GOV was $580.6 million (-42% YoY) with revenue of $126.8 million. The net loss included large non-cash items; adjusted EBITDA was $0.8 million versus $34.2 million a year ago. Management reaffirmed 2026 outlook and highlighted app value proposition and cost reductions.
- Q4 revenue $126.8M (-37% YoY); marketplace GOV $580.6M.
- FY2025 revenue $570.8M; adjusted EBITDA $41.8M.
- Q1 2026 and FY2026 guidance reaffirmed on efficiency initiatives.
- Strategic focus on leading value proposition and operating leverage.
Headline financials
Revenue & EPS history
Vivid Seats · Revenue · Quarterly
$127M
Forward guidance
Management reaffirms FY2026 outlook with Q1 guidance on subscribers and adjusted EBITDA.
Tailwinds
- App value proposition and cost program cited as working.
- Marketplace technology and data assets.
Headwinds
- GOV and revenue down sharply YoY.
- Adjusted EBITDA near breakeven in Q4.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q4 2025
-5.4%
Avg return
Earnings day
-1.2%
Avg return
5 days after
-5.7%
Avg return
30 days after
26%
5 / 19 earnings
Positive
+20.9%
Q1 2023
Best reaction
-37.5%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +11.9% | +40.8% | +40.8% | |
| Q4 2025 | -7.7% | +4.9% | -0.7% | |
| Q3 2025 | -10.4% | -18.7% | -35.9% | |
| Q1 2025 | -37.5% | -35.8% | -41.2% | |
| Q4 2024 | -23.1% | -28.9% | -24.9% | |
| Q3 2024 | -12.9% | -4.4% | -17.8% | |
| Q2 2024 | -11.4% | -12.9% | +10.7% | |
| Q1 2024 | -2.6% | +0.2% | -4.2% | |
| Q4 2023 | -13.6% | -6.4% | -4.9% | |
| Q3 2023 | +17.3% | +17.9% | +8.2% | |
| Q2 2023 | -3.1% | -2.5% | -8.0% | |
| Q1 2023 | +20.9% | +21.9% | -1.3% | |
| Q4 2022 | +10.3% | +7.3% | +19.9% | |
| Q3 2022 | -8.8% | -0.5% | -5.7% | |
| Q2 2022 | -1.1% | +10.6% | -0.3% | |
| Q1 2022 | -15.5% | -3.0% | -1.4% | |
| Q4 2021 | -11.5% | -5.1% | -13.0% | |
| Q3 2021 | -3.8% | -6.9% | -23.4% | |
| Q1 2021 | +0.8% | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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