olivLaw · US equity research
Vivid Seats Inc. SEAT
Services-Miscellaneous Amusement & Recreation · SIC 7990 · Vertical: Services-Miscellaneous Amusement & Recreation (SIC 7990)
Vivid Seats is an online ticket marketplace that connects fans with live event sellers through its own technology and the Skybox ERP tool. Volumes contracted sharply in 2025, and the first half of 2026 shows a modest recovery supported by demand from the FIFA World Cup. The company updated its 2026 guidance, so the trend in volumes and profitability is still to be watched. The key base figures are 2.7 billion USD of Marketplace gross order value in 2025 and 659.4 million USD in the second quarter of 2026.
At the close of 05 Nov 2026, Vivid Seats Inc. (SEAT) stock was 2.74 USD (−3.86% on the day), with market capitalisation 30.8 m USD, P/E 2.4 on diluted EPS of 1.12 USD over the last 12 months, beta 1.28, 52-week range 2.18–10.87 USD. Latest reported quarter (Q2 2026): revenue of 103.9 m USD (−9.2% YoY), net income of -14.3 m USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 41.9
- weak (30–45)
- Bollinger (20, 2)
- 2.18 – 3.20
- in the upper half of the band · %B 0.55 · band width 37.7%
- SMA 50 / 200
- 3.77 / 6.32
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.33 / -0.44
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −10.7% | −1.1% | −9.7 pp | — |
| 3 months | −65.2% | −0.5% | −64.8 pp | — |
| 6 months | −69.5% | +4.4% | −73.8 pp | — |
| Year to date | −62.0% | +12.3% | −74.3 pp | — |
| 1 year | −77.0% | +13.5% | −90.5 pp | −33.4% |
| 3 years | −97.8% | +76.4% | −174.2 pp | −22.6% |
| 5 years | −99.0% | +63.7% | −162.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 152.7 m | 165.2 m | 133.7 m | 114.5 m | 104.8 m | 97.5 m | 97.5 m | 103.9 m |
| Depreciation & amortisation | 10.7 m ≈ | 12.6 m | 11.6 m | 12.3 m ≈ | 13.7 m ≈ | 11.7 m | 12.3 m | 12.3 m ≈ |
| Net income | 10.6 m | -9.6 m | -10.6 m | -335.4 m | -30.2 m | 1.2 bn | -14.6 m | -14.3 m ≈ |
| Diluted EPS | — | — | -0.94 | — | — | — | -1.35 | — |
| Operating cash flow | -19.2 m ≈ | 47.8 m | -25.3 m | -28.6 m ≈ | 512.0 k ≈ | -38.2 m | 46.0 m | -799.0 k ≈ |
| Capex | 389.0 k ≈ | 3.5 m | 1.8 m | 207.0 k ≈ | 10.0 k ≈ | 111.0 k | 23.0 k | 0 ≈ |
| Share repurchases | 2.9 m ≈ | -16.0 k | 6.0 m | 9.9 m ≈ | 2.4 m ≈ | 3.0 k | 0 | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 2-quarter history (min 24.5, median 53.6, max 82.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | 403.6 m | 23.3 m | 389.7 m | 511.1 m | 597.4 m | 647.9 m | 450.5 m |
| Revenue YoY | unavailable | −94.2% | +1,573.8% | +31.2% | +16.9% | +8.5% | −30.5% |
| Net income | -53.8 m | -774.2 m | -5.0 m | 70.8 m | 69.4 m | 13.4 m | 806.1 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | −1.9% | −80.7% | +5,903.2% |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | 5.15 | 1.12 | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −78.3% | unavailable |
| net % | -13.3% | -3,325.4% | -1.3% | 13.9% | 11.6% | 2.1% | 178.9% |
| Free cash flow | 75.2 m | -34.2 m | 174.7 m | 10.8 m | 146.4 m | 49.7 m | -93.8 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 102.7 m USD
- Financial debt
- 399.9 m USD
- Net debt
- 297.2 m USD
- Equity
- -85.1 m USD
- Total assets
- 636.9 m USD
- Debt / equity
- unavailable
- Current ratio
- 0.59x
- ROE
- unavailable
- ROA
- 70.9%
- FCF margin
- -20.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 23.3 m | 389.7 m | 511.1 m | 597.4 m | 647.9 m | 450.5 m | SEC (XBRL)· 12 Mar 2026verified |
| Depreciation & amortisation | 48.2 m | 2.3 m | 7.7 m | 17.2 m | 44.2 m | 49.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Pre-tax income | -774.2 m | -18.8 m | 69.2 m | 70.9 m | 22.7 m | -652.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Income tax | — | 304.0 k | -1.6 m | -42.2 m | 8.4 m | 69.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Net income | -774.2 m | -5.0 m | 70.8 m | 69.4 m | 13.4 m | 806.1 m | SEC (XBRL)· 12 Mar 2026verified |
| Diluted EPS | — | — | — | 5.15 | 1.12 | — | SEC (XBRL)· 12 Mar 2026verified |
| Weighted average diluted shares | — | — | — | 9.9 m | 10.5 m | — | SEC (XBRL)· 12 Mar 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 285.3 m | 489.5 m | 251.5 m | 125.5 m | 243.5 m | 102.7 m | SEC (XBRL)· 12 Mar 2026verified |
| Inventories | — | 11.8 m | 12.8 m | 21.0 m | 19.6 m | 18.2 m | SEC (XBRL)· 12 Mar 2026verified |
| Current assets | — | 610.2 m | 331.5 m | 246.0 m | 345.2 m | 178.5 m | SEC (XBRL)· 12 Mar 2026verified |
| Property, plant & equipment, net | — | 1.1 m | 10.4 m | 10.2 m | 12.6 m | 12.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Goodwill | — | 718.2 m | 715.3 m | 947.4 m | 943.1 m | 283.9 m | SEC (XBRL)· 12 Mar 2026verified |
| Intangibles (excl. goodwill) | 107.4 m | 78.5 m | 82.0 m | 241.2 m | 233.1 m | 141.5 m | SEC (XBRL)· 12 Mar 2026verified |
| Total assets | — | 1.4 bn | 1.2 bn | 1.6 bn | 1.6 bn | 636.9 m | SEC (XBRL)· 12 Mar 2026verified |
| Accounts payable | — | 191.2 m | 161.3 m | 257.5 m | 233.0 m | 153.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Short-term debt | — | — | 14.9 m | 16.2 m | 18.7 m | 16.5 m | SEC (XBRL)· 12 Mar 2026verified |
| Long-term debt | 870.9 m | 460.1 m | 264.9 m | 264.6 m | 385.0 m | 383.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Current liabilities | — | 497.5 m | 378.0 m | 487.8 m | 425.8 m | 303.3 m | SEC (XBRL)· 12 Mar 2026verified |
| Total liabilities | — | — | — | 963.3 m | 1.0 bn | 722.0 m | SEC (XBRL)· 12 Mar 2026verified |
| Equity | -271.8 m | -860.7 m | -382.7 m | 105.0 m | 261.1 m | -85.1 m | SEC (XBRL)· 12 Mar 2026verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -33.9 m | 175.8 m | 14.4 m | 147.3 m | 53.9 m | -91.6 m | SEC (XBRL)· 12 Mar 2026verified |
| Capex | 341.0 k | 1.1 m | 3.6 m | 895.0 k | 4.2 m | 2.2 m | SEC (XBRL)· 12 Mar 2026verified |
| Free cash flow | -34.2 m ≈ | 174.7 m ≈ | 10.8 m ≈ | 146.4 m ≈ | 49.7 m ≈ | -93.8 m ≈ | SEC (XBRL)· 12 Mar 2026derived |
| Investing cash flow | -7.6 m | -9.3 m | -15.4 m | -225.6 m | -26.7 m | -20.2 m | SEC (XBRL)· 12 Mar 2026verified |
| Financing cash flow | 245.5 m | 38.0 m | -236.5 m | -43.4 m | 86.1 m | -29.4 m | SEC (XBRL)· 12 Mar 2026verified |
| Share repurchases | — | 0 | 32.5 m | 20.1 m | 23.0 m | 18.3 m | SEC (XBRL)· 12 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 50.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 30.8 m USD
Key indicators
Coverage and freshness
Score by group
50% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 1,970.48 – 3,774.53 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E1,970.48 – 3,774.53 (Mid 3,206.30)7 companies used · median multiple 32.1x · quartiles 19.7x – 37.8xBRSL, DIS, MSGE, MTN, PRKS, PRSU, RSI
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 50.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 278.1% | 100 (vs peers) | 13% |
| FCF conversion · Quality | 0.7% | 0 (on a fixed band) | 13% |
| Revenue CAGR 3Y · Growth | -4.1% | 0 (on a fixed band) | 17% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.7x | 0 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 0.0x | 100 (vs peers) | 21% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 23.9% | 100 (on a fixed band) | 17% |
| Shareholder yield (distributions) · Returns | 7.9% | 100 (on a fixed band) | 13% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality50/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation100/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Vivid Seats Inc. (SEAT). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 450.5 m USD in 2025; YoY growth -30.5%; net margin 278.1%; ROE 2,000.9%.
The estimated value range is 1,970.48–3,774.53 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 3,206.30 USD, the price of 2.74 USD leaves a potential of 116,918.1% (value / price − 1) and a margin of safety of 99.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 50.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 278.1%
- P/E (TTM): 0.0x
- FCF yield: 23.9%
- Shareholder yield (distributions): 7.9%
- The price is below the estimated value range
What contradicts it
- FCF conversion: 0.7%
- Revenue CAGR 3Y: -4.1%
- Current ratio: 0.7x
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Services-Miscellaneous Amusement & Recreation (SIC 7990) · same industry (4-digit SIC) · compared with 20 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| DISWalt Disney Co | 205.4 bn | 24.5 | 7.8% | 8.7% | +3.4% | +14% / +28% |
| MTNVail Resorts, Inc. | 5.6 bn | 38.5 | 44.4% | 5.2% | −4.3% | +13% / −27% |
| RSIRush Street Interactive, Inc. | 2.4 bn | 39.4 | 23.0% | 2.6% | +22.8% | −35% / +183% |
| BRSLBrightstar Lottery PLC | 1.9 bn | 13.5 | 11.6% | 5.9% | −0.0% | −36% / −63% |
| PRKSUnited Parks & Resorts Inc. | 1.7 bn | 14.9 | — | 8.1% | −3.6% | +5% / −23% |
| PRSUPursuit Attractions and Hospitality, Inc. | 1.5 bn | 32.1 | 7.7% | 9.6% | +23.4% | +57% / +62% |
| NIPGNIP Group Inc. | 413.9 m | — | -15.9% | -14.9% | +1.9% | −92% / unavailable |
| SEGSeaport Entertainment Group Inc. | 275.7 m | — | -22.6% | -91.4% | +18.3% | +0% / unavailable |
| GENIGenius Sports Limited | 59.2 m | — | -17.2% | -16.7% | +31.0% | −41% / +7% |
| SEATVivid Seats Inc. | 30.8 m | 0.0 | 2,000.9% | 278.1% | −30.5% | −77% / −98% |
| GRSDGrandstand Limited | 29.3 m | — | -28.5% | -19.9% | +30.1% | −85% / −91% |
| FCHLFitness Champs Holdings Limited | 11.4 m | — | -349.1% | -32.9% | +4.7% | −100% / unavailable |
| FBYDFalcon’s Beyond Global, Inc. | 68 | — | -100.8% | -36.0% | +120.8% | −67% / −35% |
| MSGEMadison Square Garden Entertainment Corp. | — | 37.1 | — | 8.6% | +12.5% | +52% / +149% |
| ENHAEnhanced Group Inc. | — | — | -1,903.4% | — | unavailable | unavailable / unavailable |
| DKNGDraftkings Inc. | — | — | -21.1% | -2.7% | +27.0% | −29% / −38% |
| STUBStubhub Holdings, Inc. | — | — | -145.8% | -91.3% | −1.4% | −46% / unavailable |
| XPOFXponential Fitness, Inc. | — | — | — | -401.5% | −20.7% | −33% / −68% |
| CDROCodere Online Luxembourg, S.A. | — | — | 17.3% | 1.9% | +24.2% | +19% / +159% |
| GDHGGolden Heaven Group Holdings Ltd. | — | — | -6.5% | -56.2% | −31.5% | −74% / −100% |
| MSGSMsg Knickerbockers Corp. | — | 1,015.6 | — | 0.7% | +11.0% | +43% / +92% |
1- and 3-year price returns: for SEAT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.48 Total return -46% · Per year -46% | 2.63 Total return -4% · Per year -4% | 3.97 Total return 45% · Per year 45% |
| 3 years | 1.20 Total return -56% · Per year -24% | 2.42 Total return -12% · Per year -4% | 4.04 Total return 48% · Per year 14% |
| 5 years | 0.97 Total return -65% · Per year -19% | 2.22 Total return -19% · Per year -4% | 4.12 Total return 50% · Per year 8% |
- Exit P/E± 0.60
- Net margin± 0.42
- Annual revenue growth± 0.38
- Annual dilution± 0.04
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Vivid Seats is an online ticket marketplace that connects fans with live event sellers through its own technology and the Skybox ERP tool. Volumes contracted sharply in 2025, and the first half of 2026 shows a modest recovery supported by demand from the FIFA World Cup. The company updated its 2026 guidance, so the trend in volumes and profitability is still to be watched. The key base figures are 2.7 billion USD of Marketplace gross order value in 2025 and 659.4 million USD in the second quarter of 2026 13.
SWOT
Strengths
- The platform has a loyalty program considered the most comprehensive among key competitors, and an ERP tool widely adopted by sellers 1.
- The company describes a scalable cost structure and a balance sheet that supports it through difficult periods 1.
- The Vegas.com and Wavedash brands add access to local markets and to specific distribution partners 1.
Weaknesses
- Marketplace volumes fell significantly in 2025, showing dependence on consumer demand 1.
- The company depends on search engines for traffic, and customer acquisition costs have risen during a period of intense competition 1.
- The net result was heavily affected by impairment in 2025, and the net loss continued in the first half of 2026 2.
Opportunities
- Large international sporting events can generate additional demand and short-term rebounds 3.
- Expanding seller tools such as Skybox Drive could attract more sellers and transactions to the platform 1.
- If cost reduction produces lasting efficiency, adjusted profitability could improve in the coming years 2.
Threats
- Changes to search engine algorithms or mobile app marketplace rules could reduce traffic and platform visibility 1.
- Intense competition could compress prices and margins, and resale restrictions in some jurisdictions can limit activity 1.
- Extraordinary events such as epidemics or natural disasters can cancel performances and trigger refunds 1.
Risks
- Dependence on live event demandhigh
Volumes depend on the supply of shows and on consumer discretionary spending, and an economic slowdown could reduce sales 1.
- Dependence on search engine algorithmshigh
Organic and paid traffic from search engines is essential, and changes to algorithms can affect the platform's visibility 1.
- Intense competitionmedium
Competitors may offer more favourable terms or increase marketing spend, which could compress margins 1.
- Resale regulationmedium
Some jurisdictions limit ticket resale through price caps or bans, which directly affects the company's activity 1.
- Net losses and debtmedium
The net loss and shareholders' deficit on the balance sheet could limit financial flexibility if results do not improve 2.
Investment thesis
What would need to be true (bull case)
- If the second-quarter recovery holds and the 2026 guidance is met, the company could show that volumes have stabilised after a difficult year 3.
- The platform offers seller tools and a loyalty program that can support customer retention during periods of intense competition 1.
- Cost reduction could turn restructuring into better margins over the long term, if volumes recover 2.
What would break the thesis
- Marketplace order volumes fell sharply in 2025, and the 2026 recovery could remain fragile if demand from major events fades 13.
- The net loss and shareholders' deficit show that profitability is not yet stable 2.
- Dependence on search engines and competitive intensity could keep raising customer acquisition costs 1.
What to watch
- Efectul reducerii costurilor asupra marjelorQ4 2026
- Delivery against the 2026 guidance for Marketplace GOV and adjusted EBITDAnext 10-K
- Evolution of order volumes after major sporting eventsQ3 2026
- Effect of cost reduction on marginsQ4 2026
- How artificial intelligence changes search traffic for tickets2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Vivid Seats acts as an intermediary between ticket buyers, sellers and partners, earning revenue from service and delivery fees paid by buyers, without holding inventory in the Marketplace segment 1. The company has two segments: Marketplace, which includes the Vivid Seats platform, Vegas.com and Wavedash, and Resale, which resells tickets on secondary markets, including its own, and supports Skybox development 1. For sellers, Skybox is a free and widely used ERP, while the Vivid Seats Rewards program and buyer guarantees are central to the value proposition 1.
The stated strategy emphasises raising awareness of the value proposition, attracting and retaining buyers, expanding seller tools and building partnerships with media companies, leagues, teams and venues 1. In October 2025 the company completed a corporate simplification that cancelled its Class B shares and amended the tax receivable agreement 2.
Against falling volumes, the company ran a cost reduction program that continued to generate severance-related expenses in the first half of 2026 2. Marketplace order numbers fell significantly in 2025, and management links this to uncertainty in discretionary consumer spending and competitive intensity in performance marketing 12.
Segments
Marketplace
The Marketplace segment generated 2.7 billion USD of gross order value in 2025, with revenue from service and delivery fees that depend on the volume of transactions processed on the platform 1. By category, tickets cover concerts, sports and theater, a mix that limits exposure to any single category and reduces seasonal variation 1.
Market context
Trends
- Demand from major eventsmixed
Management stated that the second quarter of 2026 was supported by demand created by the FIFA World Cup, which allowed sequential growth; an effect of this kind could nevertheless be temporary 3.
- Pressure from discretionary spendingheadwind
A decline in consumer discretionary spending was cited as a reason for lower volumes in 2025, and if this pressure persists it could limit the revenue recovery 2.
- Artificial intelligence in ticket searchmixed
The company notes that artificial intelligence is changing how consumers search for tickets, and rapid adaptation to this channel could be decisive for keeping traffic 1.
- Cost reduction and efficiencytailwind
The cost reduction program, with headcount cuts and related payments, is meant to produce a more efficient structure, but restructuring costs continued into 2026 2.
Competitive position
Vivid Seats competes with other primary and secondary ticketing providers for buyers, sellers and partners; the main competitors named are StubHub, Ticketmaster, SeatGeek and TicketNetwork 1. Key factors include variety of offer, price, traffic from search engines, brand recognition and technology 1. Stated advantages include the loyalty program and Skybox, the most widely adopted ERP in the industry 1.
Competitive pressure in performance marketing channels has raised the cost of paid search, and a change in search engine algorithms can affect the platform's visibility 12. If competitors offer more favourable terms or consolidation raises their market share, margins and volumes could be affected 1.
- StubHub
Main competitor named in the secondary ticket market, against which the company compares its offer and pricing 1.
- Ticketmaster
Ticketing platform named as a main competitor, particularly for acquiring buyers and sellers 1.
- SeatGeek
Ticketing platform identified as a direct competitor in resale and ticket sales 1.
- TicketNetwork
Professional ticket reseller named as one of the company's main competitors 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Sea of crimson: vivid ‘red beach’ transforms China’s wetlands and marshes – in picturesThe Guardian — Environment · 28 Oct 2026 · EN
- See Inside Cells Like Never Before in These Vivid Microscopic ImagesQuanta Magazine · 21 Oct 2026 · EN
- (Movie Review) 'The Assassin(s)' paints vivid snapshot of 1970s Korea in tribute to those who lived through itYonhap News (KR, EN) · 17 Sept 2026 · EN
- David Hockney: Art's great innovator whose vivid paintings made him a household nameBBC World News · 12 Jun 2026 · EN
- Vivid Sydney cancels all drone shows after 83 drones plunged into Darling HarbourThe Guardian World · 30 May 2026 · RO
- Vivid Sydney drone shows cancelled for now after malfunction saw 89 drones fall into the harbourReddit r/worldnews (top day) · 26 May 2026 · RO
- Vivid Sydney cancels shows after 89 drones plunge into Darling HarbourThe Guardian World · 26 May 2026 · RO
SEC filings
- Current report23 Oct 2026Departure or appointment of officers
- Quarterly report04 Aug 2026
- Current report04 Aug 2026Results of operations · Financial statements and exhibits
- Current report15 Jun 2026Shareholder vote
- Quarterly report05 May 2026
- Current report05 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement27 Apr 2026
- Annual report12 Mar 2026
- Current report12 Mar 2026Results of operations · Other events · Financial statements and exhibits
- Current report20 Jan 2026Departure or appointment of officers
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Vivid Seats Inc. · 12 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Vivid Seats Inc. · 04 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Vivid Seats Inc. · 04 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.