Vivid Seats Inc. (SEAT) Earnings
Vivid Seats Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $-1.03. SEAT has beaten EPS estimates in 3 of its last 9 reported quarters (average surprise -173.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-1.03 | $-1.35 | -31.1% | $126M | +1.0% |
| Mar 12, 2026 | $-1.66 | $-10.39 | -525.5% | $127M | +1.2% |
| Nov 6, 2025 | $-1.68 | $-1.91 | -13.7% | $136M | -0.6% |
| Mar 12, 2025 | $0.03 | $-0.01 | -122.3% | $200M | +8.1% |
| Nov 7, 2024 | $0.02 | $0.04 | +66.7% | $187M | -4.1% |
| Mar 5, 2024 | $0.05 | $0.09 | +80.0% | $198M | +8.0% |
| Mar 7, 2023 | $0.13 | $0.13 | +0.0% | $165M | +6.8% |
| Mar 10, 2022 | $0.02 | $0.44 | +1870.4% | $164M | +9.2% |
| Nov 15, 2021 | $-0.09 | $-44.05 | -48844.4% | $140M | — |
| Aug 6, 2021 | — | $0.03 | — | $115M | — |
| May 24, 2021 | — | $-0.26 | — | $24M | — |
| Mar 31, 2021 | — | $-0.43 | — | $1M | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Larry mentioned entering fiscal year 2026 with a focus to enhance market position and financial trajectory. Delivered measurable progress in Q1 with growth in GOV, adjusted EBITDA, and cash balance sequentially. Focus on product innovation for core customer journey, improving funnel efficiency, conversion, and experience. Deployed upgraded app checkout experience. App GOV up 20% y/y with share exceeding 40%. Investing in innovation with AI, like ads on ChatGPT. Launched new private label partner with strong performance, private label revenue grew sequentially. Joe walked through financial results, noting Q1 marketplace GOV growth, consolidated revenue flat, private label revenue growth, lower take rate, adjusted EBITDA increase, cash increase
Guidance
Reaffirming 2026 outlook: marketplace GOV in range of 2.2 to 2.6 billion and adjusted EBITDA in range of 30 to 40 million. Confident in returning to year-over-year growth in second half of 2026 and beyond
Segment performance
In Q1 2026, Vivid Seats app GOV was up 20% year over year, with app share of GOV exceeding 40% for the quarter. Marketplace GOV was $612 million in Q1 2026, up 5.5% sequentially from Q4 2025. Consolidated revenue was $126 million, essentially flat with Q4 2025. Private label revenue grew 20% quarter to quarter. Adjusted EBITDA was $9.5 million in Q1 2026, up from $1 million in Q4 2025
Risks & headwinds
None explicitly detailed in the provided transcript regarding specific risks other than general risks mentioned about actual results differing from projections as per federal securities laws
Analyst Q&A
Q: Cameron Mansoon Perrone asked about competitive environment trends and app insulation.
A: Larry responded on moderation of StubHub's paid search spend, price testing, and app's insulation due to reduced exposure.
Q: Ryan Sickdahl asked on industry volume and market share.
A: Larry said industry up low single digits in Q1, Q2 flat, share sequentially steady.
Q: Ralph Shacker asked on macro environment and app conversion.
A: Larry talked about no clear consumer shift from oil prices, app conversion focus.
Q: Brad Erickson asked on return to growth and AI partnerships.
A: Larry discussed private label growth drivers and AI's operational tailwind.
Q: Stephen McDermott asked on United partnership and cost position.
A: Larry said United not explicit needle mover, cost side bright.
Q: Thomas Forte asked on World Cup and cash conversion.
A: Larry talked about World Cup tailwind and cash flow positive expectation.
Q: Kunal Madakar asked on app user demographics and growth.
A: Larry said app users repeat more often, sports oriented.
Q: Andrew Merrick asked on app growth and international strategy.
A: Larry talked about app growth nudges and international focus on universal upgrades.
Q: Maria Ripps asked on private label and international strategy.
A: Larry said private label to grow above industry, international focus on universal upgrades