Vivid Seats Q4 revenue misses on weak demand

Vivid Seats

12/03/2026 10:39

Overview

U.S. ticket marketplace's Q4 revenue fell 37% yr/yr, missing analyst expectations

Adjusted EBITDA for Q4 missed analyst expectations, dropping sharply from prior year

Company posted large net loss due to non-cash impairment charges

Outlook

Vivid Seats sees Q1 2026 Marketplace GOV between $570 mln and $620 mln

Company expects Q1 2026 adjusted EBITDA of $8 mln to $10 mln

Vivid Seats forecasts 2026 Marketplace GOV of $2.2 bln to $2.6 bln

Result Drivers

IMPAIRMENT CHARGES - Co said Q4 results were significantly affected by non-cash impairment charges related to goodwill and intangible assets, triggered by declines in financial performance and outlook

WEAKER DEMAND - Q4 revenue and gross order value fell sharply yr/yr, with management citing recent declines in financial performance and near-term outlook

COST REDUCTION PROGRAM - Co highlighted ongoing cost reduction efforts as a positive, though these did not offset declines in business metrics

Company press release: ID:nGNX6XHPlt

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
$126.80 mln
$137.14 mln (9 Analysts)
Q4 Net Income
-$428.70 mln
Q4 Adjusted EBITDA
Miss
$800,000
$4.57 mln (8 Analysts)

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)