Vivid Seats (SEATW) Financials

$0.06 +0.01 (+27.42%)

As of 03:30 PM Eastern

Annual Income Statements for Vivid Seats

This table shows Vivid Seats' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	71	69	13
Consolidated Net Income / (Loss)	71	113	14
Net Income / (Loss) Continuing Operations	71	113	14
Total Pre-Tax Income	69	71	23
Total Operating Income	78	81	42
Total Gross Profit	460	531	574
Total Revenue	600	713	776
Operating Revenue	600	713	776
Total Cost of Revenue	141	182	202
Operating Cost of Revenue	141	182	202
Total Operating Expenses	382	449	532
Selling, General & Admin Expense	128	159	202
Marketing Expense	248	274	285
Depreciation Expense	7.73	17	44
Other Operating Expenses / (Income)	-2.07	-1.00	0.00
Total Other Income / (Expense), net	-8.92	-10	-20
Interest Expense	17	14	23
Other Income / (Expense), net	8.23	3.11	3.67
Income Tax Expense	-1.59	-42	8.42
Net Income / (Loss) Attributable to Noncontrolling Interest	29	75	9.43
Basic Earnings per Share	$0.36	$0.80	$0.07
Weighted Average Basic Shares Outstanding	80.26M	92.68M	132.33M
Diluted Earnings per Share	$0.36	$0.26	$0.06
Weighted Average Diluted Shares Outstanding	198.74M	198.88M	209.14M
Weighted Average Basic & Diluted Shares Outstanding	195.38M	210.18M	208.92M

This table shows Vivid Seats' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	7.66	59	12	31	6.68	20	6.08	-1.06	5.30	3.12
Consolidated Net Income / (Loss)	19	25	30	14	18	52	13	-0.44	11	-8.76
Net Income / (Loss) Continuing Operations	19	33	30	38	16	29	11	-1.22	9.20	-4.42
Total Pre-Tax Income	19	32	31	14	19	7.93	13	-0.64	13	-3.13
Total Operating Income	22	25	34	18	20	10	21	7.88	11	2.90
Total Gross Profit	119	225	123	123	138	147	141	150	136	147
Total Revenue	157	296	161	165	188	198	191	198	187	200
Operating Revenue	157	-	161	165	188	198	191	198	187	200
Total Cost of Revenue	38	70	38	43	50	51	50	49	51	52
Operating Cost of Revenue	38	-	38	43	50	51	50	49	51	52
Total Operating Expenses	98	185	90	105	118	137	121	142	125	144
Selling, General & Admin Expense	30	61	32	38	37	51	42	61	46	52
Marketing Expense	66	-	55	65	77	77	68	70	68	79
Depreciation Expense	2.16	2.46	2.60	2.70	3.30	8.58	10	11	11	13
Total Other Income / (Expense), net	-2.84	-8.27	-2.95	-3.77	-1.51	-2.17	-7.66	-8.53	2.72	-6.04
Interest Expense	2.90	7.60	3.28	2.77	2.54	4.91	5.08	5.32	6.30	6.47
Other Income / (Expense), net	0.07	-	0.33	-1.00	1.04	2.74	-2.58	-3.20	9.02	0.43
Income Tax Expense	0.12	-1.71	0.29	-24	2.60	-21	2.27	0.58	4.29	1.28
Net Income / (Loss) Attributable to Noncontrolling Interest	11	3.17	18	31	6.68	19	4.67	-1.06	5.30	0.53
Basic Earnings per Share	$0.09	$0.13	$0.16	$0.36	$0.07	$0.21	$0.05	($0.01)	$0.04	($0.01)
Weighted Average Basic Shares Outstanding	82.00M	80.26M	77.41M	85.27M	96.41M	92.68M	134.07M	131.80M	131.52M	132.33M
Diluted Earnings per Share	$0.09	$0.13	$0.15	$0.20	$0.07	($0.16)	$0.04	($0.01)	$0.04	($0.01)
Weighted Average Diluted Shares Outstanding	82.02M	198.74M	195.82M	196.38M	96.86M	198.88M	210.91M	208.03M	131.95M	209.14M
Weighted Average Basic & Diluted Shares Outstanding	199.50M	195.38M	195.88M	196.18M	196.41M	210.18M	207.65M	208.08M	207.75M	208.92M

This table details how cash moves in and out of Vivid Seats' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-238	-120	112
Net Cash From Operating Activities	14	147	54
Net Cash From Continuing Operating Activities	13	147	54
Net Income / (Loss) Continuing Operations	71	113	14
Consolidated Net Income / (Loss)	71	113	14
Depreciation Expense	7.73	17	44
Amortization Expense	1.05	0.92	0.99
Non-Cash Adjustments To Reconcile Net Income	18	25	52
Changes in Operating Assets and Liabilities, net	-85	-9.10	-58
Net Cash From Investing Activities	-15	-226	-27
Net Cash From Continuing Investing Activities	-15	-226	-27
Purchase of Property, Plant & Equipment	-3.56	-0.90	-4.23
Acquisitions	-0.01	-207	-0.35
Other Investing Activities, net	-12	-18	-22
Net Cash From Financing Activities	-236	-43	86
Net Cash From Continuing Financing Activities	-236	-43	86
Repayment of Debt	-4.86	-0.28	-2.97
Repurchase of Common Equity	-32	-20	-23
Payment of Dividends	-5.25	-14	-10
Issuance of Debt	275	0.00	0.00
Other Financing Activities, net	-469	-8.76	122
Effect of Exchange Rate Changes	0.00	1.90	-1.05
Cash Interest Paid	15	19	19
Cash Income Taxes Paid	0.00	4.02	5.47

This table details how cash moves in and out of Vivid Seats' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-14	-22	52	2.88	-61	-114	31	81	-32	32
Net Cash From Operating Activities	-0.02	13	65	18	32	33	39	-14	-19	48
Net Cash From Continuing Operating Activities	0.00	11	65	-1.18	28	56	41	-13	-18	43
Net Income / (Loss) Continuing Operations	19	25	30	14	18	51	13	-0.44	11	-8.76
Consolidated Net Income / (Loss)	19	25	30	14	18	51	13	-0.44	11	-8.76
Depreciation Expense	2.16	2.46	2.60	8.01	-2.00	8.58	10	11	11	13
Amortization Expense	0.24	0.23	0.23	0.23	0.24	0.24	0.24	0.22	0.27	0.27
Non-Cash Adjustments To Reconcile Net Income	5.49	4.35	5.36	-16	31	4.66	11	21	2.08	18
Changes in Operating Assets and Liabilities, net	-27	-21	27	-7.10	-20	-9.06	6.26	-44	-41	21
Net Cash From Investing Activities	-4.96	-3.53	-2.61	-2.98	-65	-155	-5.29	-5.26	-7.29	-8.90
Net Cash From Continuing Investing Activities	-4.96	-3.53	-2.61	2.00	-70	-155	-5.29	-5.26	-7.29	-8.90
Purchase of Property, Plant & Equipment	-1.34	-0.83	-0.22	-0.39	-0.18	-0.11	-0.09	-0.29	-0.39	-3.46
Acquisitions	-	-	-	-	-	-151	-	-	-	-0.35
Other Investing Activities, net	-3.62	-2.70	-2.39	-	-	-3.57	-5.20	-4.98	-6.90	-5.10
Net Cash From Financing Activities	-8.66	-32	-11	-12	-4.19	-17	-4.61	99	-6.84	-1.80
Net Cash From Continuing Financing Activities	-8.66	-32	-11	1.81	-18	-17	-4.61	99	-6.84	-1.80
Repurchase of Common Equity	-3.05	-29	-7.61	-	-	-12	-3.11	-17	-2.93	0.02
Payment of Dividends	-5.61	1.05	-	-	-	-3.29	-	-	-2.84	-0.76
Issuance of Debt	-	-	-	-	-	-	-	-	-	-126
Other Financing Activities, net	-	-3.17	-3.19	1.81	-6.69	-0.69	-1.23	-0.10	-1.07	124
Cash Interest Paid	3.60	4.91	1.94	5.32	5.99	6.08	6.07	10	0.62	2.77
Cash Income Taxes Paid	-	-	0.00	0.40	-	3.62	0.62	2.66	1.86	0.33

This table presents Vivid Seats' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Total Assets	1,151	1,550	1,636
Total Current Assets	332	246	345
Cash & Equivalents	252	125	243
Restricted Cash	0.75	6.95	1.17
Accounts Receivable	37	58	48
Inventories, net	13	21	20
Prepaid Expenses	30	34	33
Plant, Property, & Equipment, net	10	10	13
Total Noncurrent Assets	809	1,294	1,278
Goodwill	715	947	943
Intangible Assets	82	241	233
Noncurrent Deferred & Refundable Income Taxes	0.00	86	78
Other Noncurrent Operating Assets	12	20	24
Total Liabilities & Shareholders' Equity	1,151	1,550	1,636
Total Liabilities	671	963	1,022
Total Current Liabilities	378	488	426
Short-Term Debt	2.75	3.93	3.95
Accounts Payable	161	258	233
Accrued Expenses	182	192	165
Current Deferred Revenue	32	35	24
Total Noncurrent Liabilities	293	476	596
Long-Term Debt	280	281	404
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	166	156
Other Noncurrent Operating Liabilities	13	29	37
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	863	482	353
Total Equity & Noncontrolling Interests	-383	105	261
Total Preferred & Common Equity	-383	105	261
Total Common Equity	-383	105	261
Common Stock	664	1,096	1,268
Retained Earnings	-1,014	-940	-930
Treasury Stock	-32	-53	-76
Accumulated Other Comprehensive Income / (Loss)	0.00	0.75	-0.88

This table presents Vivid Seats' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	1,181	1,228	1,325	1,385	1,589	1,655	1,611
Total Current Assets	364	408	428	406	297	371	326
Cash & Equivalents	274	303	306	269	154	234	202
Restricted Cash	0.51	0.68	0.67	1.06	6.85	6.14	6.19
Accounts Receivable	40	47	46	65	70	69	65
Inventories, net	14	24	28	22	30	30	22
Prepaid Expenses	35	33	47	49	37	32	30
Plant, Property, & Equipment, net	8.84	10	10	10	9.83	9.66	9.59
Total Noncurrent Assets	808	809	887	969	1,283	1,274	1,275
Goodwill	715	715	715	760	944	942	947
Intangible Assets	82	82	82	114	234	227	225
Noncurrent Deferred & Refundable Income Taxes	-	-	79	77	85	85	81
Other Noncurrent Operating Assets	11	12	9.97	18	20	21	22
Total Liabilities & Shareholders' Equity	1,181	1,228	1,325	1,385	1,589	1,655	1,611
Total Liabilities	701	723	828	865	993	1,061	999
Total Current Liabilities	405	431	429	454	525	470	413
Short-Term Debt	2.75	2.75	2.75	3.31	3.58	3.95	3.95
Accounts Payable	165	218	204	219	307	267	224
Accrued Expenses	204	184	192	197	181	169	160
Current Deferred Revenue	34	26	30	34	33	30	25
Total Noncurrent Liabilities	295	292	399	411	468	591	586
Long-Term Debt	279	279	279	282	280	403	402
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	99	99	160	162	162
Other Noncurrent Operating Liabilities	16	13	21	30	28	26	23
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	905	902	790	641	457	438	282
Total Equity & Noncontrolling Interests	-425	-397	-293	-120	140	156	329
Total Preferred & Common Equity	-425	-397	-293	-120	140	156	329
Total Common Equity	-425	-397	-293	-120	140	156	329
Common Stock	602	645	718	885	1,130	1,164	1,334
Retained Earnings	-1,024	-1,002	-971	-965	-934	-935	-929
Treasury Stock	-3.05	-40	-40	-40	-57	-73	-76
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-0.17	-0.38	-1.22	0.77

This table displays calculated financial ratios and metrics derived from Vivid Seats' official financial filings.

Metric	2022	2023	2024
Period end date	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-
Revenue Growth	35.49%	18.76%	8.80%
EBITDA Growth	16.03%	7.81%	-11.15%
EBIT Growth	14.83%	-2.18%	-45.66%
NOPAT Growth	49.07%	62.35%	-79.51%
Net Income Growth	470.01%	59.85%	-87.36%
EPS Growth	1,000.00%	-27.78%	-76.92%
Operating Cash Flow Growth	-91.82%	924.83%	-63.40%
Free Cash Flow Firm Growth	-116.90%	-183.73%	88.54%
Invested Capital Growth	29.01%	44.80%	5.13%
Revenue Q/Q Growth	21.88%	-12.03%	0.20%
EBITDA Q/Q Growth	-10.40%	-5.03%	-5.66%
EBIT Q/Q Growth	-12.70%	-12.03%	-17.16%
NOPAT Q/Q Growth	-18.31%	8.41%	-61.54%
Net Income Q/Q Growth	52.93%	30.94%	-80.83%
EPS Q/Q Growth	89.47%	-52.73%	166.67%
Operating Cash Flow Q/Q Growth	137.75%	15.66%	38.02%
Free Cash Flow Firm Q/Q Growth	0.00%	-238.80%	94.43%
Invested Capital Q/Q Growth	4.72%	37.94%	-3.89%
Profitability Metrics	-	-	-
Gross Margin	76.59%	74.44%	73.97%
EBITDA Margin	15.85%	14.39%	11.75%
Operating Margin	13.01%	11.41%	5.44%
EBIT Margin	14.38%	11.85%	5.92%
Profit (Net Income) Margin	11.79%	15.87%	1.84%
Tax Burden Percent	102.30%	159.48%	62.95%
Interest Burden Percent	80.14%	84.01%	49.51%
Effective Tax Rate	-2.30%	-59.48%	37.05%
Return on Invested Capital (ROIC)	17.64%	20.76%	3.51%
ROIC Less NNEP Spread (ROIC-NNEP)	-3,068.96%	2.60%	-4.28%
Return on Net Nonoperating Assets (RNNOA)	-2.00%	0.45%	-1.12%
Return on Equity (ROE)	15.63%	21.21%	2.38%
Cash Return on Invested Capital (CROIC)	-7.70%	-15.84%	-1.50%
Operating Return on Assets (OROA)	6.74%	6.25%	2.88%
Return on Assets (ROA)	5.53%	8.38%	0.90%
Return on Common Equity (ROCE)	-21.47%	-5.52%	0.73%
Return on Equity Simple (ROE_SIMPLE)	-18.49%	107.74%	5.48%
Net Operating Profit after Tax (NOPAT)	80	130	27
NOPAT Margin	13.31%	18.20%	3.43%
Net Nonoperating Expense Percent (NNEP)	3,086.60%	18.16%	7.79%
Return On Investment Capital (ROIC_SIMPLE)	-79.79%	33.28%	3.97%
Cost of Revenue to Revenue	23.41%	25.56%	26.03%
SG&A Expenses to Revenue	21.26%	22.32%	26.06%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	63.58%	63.03%	68.53%
Earnings before Interest and Taxes (EBIT)	86	84	46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	95	103	91
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.00	11.82	3.68
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.43	1.74	1.24
Price to Earnings (P/E)	20.57	17.88	71.64
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	4.86%	5.59%	1.40%
Enterprise Value to Invested Capital (EV/IC)	4.60	2.54	1.90
Enterprise Value to Revenue (EV/Rev)	3.91	2.63	1.91
Enterprise Value to EBITDA (EV/EBITDA)	24.70	18.29	16.22
Enterprise Value to EBIT (EV/EBIT)	27.21	22.21	32.20
Enterprise Value to NOPAT (EV/NOPAT)	29.41	14.46	55.59
Enterprise Value to Operating Cash Flow (EV/OCF)	163.44	12.73	27.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.59	0.49	0.66
Long-Term Debt to Equity	0.58	0.48	0.66
Financial Leverage	0.00	0.17	0.26
Leverage Ratio	2.83	2.53	2.65
Compound Leverage Factor	2.27	2.13	1.31
Debt to Total Capital	37.05%	32.68%	39.90%
Short-Term Debt to Total Capital	0.36%	0.45%	0.39%
Long-Term Debt to Total Capital	36.69%	32.22%	39.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	113.13%	55.27%	34.54%
Common Equity to Total Capital	-50.18%	12.05%	25.56%
Debt to EBITDA	2.97	2.78	4.47
Net Debt to EBITDA	0.32	1.49	1.79
Long-Term Debt to EBITDA	2.94	2.74	4.43
Debt to NOPAT	3.54	2.20	15.34
Net Debt to NOPAT	0.38	1.17	6.13
Long-Term Debt to NOPAT	3.50	2.17	15.19
Altman Z-Score	0.79	0.38	0.28
Noncontrolling Interest Sharing Ratio	237.32%	126.03%	69.51%
Liquidity Ratios	-	-	-
Current Ratio	0.88	0.50	0.81
Quick Ratio	0.76	0.38	0.69
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-35	-99	-11
Operating Cash Flow to CapEx	404.02%	16,460.34%	1,275.66%
Free Cash Flow to Firm to Interest Expense	-2.03	-7.33	-0.49
Operating Cash Flow to Interest Expense	0.84	10.91	2.33
Operating Cash Flow Less CapEx to Interest Expense	0.63	10.84	2.14
Efficiency Ratios	-	-	-
Asset Turnover	0.47	0.53	0.49
Accounts Receivable Turnover	16.52	15.01	14.52
Inventory Turnover	11.44	10.78	9.94
Fixed Asset Turnover	104.28	69.26	68.26
Accounts Payable Turnover	0.80	0.87	0.82
Days Sales Outstanding (DSO)	22.09	24.32	25.13
Days Inventory Outstanding (DIO)	31.89	33.86	36.72
Days Payable Outstanding (DPO)	457.86	419.55	443.47
Cash Conversion Cycle (CCC)	-403.88	-361.37	-381.61
Capital & Investment Metrics	-	-	-
Invested Capital	510	739	777
Invested Capital Turnover	1.33	1.14	1.02
Increase / (Decrease) in Invested Capital	115	229	38
Enterprise Value (EV)	2,349	1,875	1,478
Market Capitalization	1,456	1,241	962
Book Value per Share	($1.92)	$0.53	$1.26
Tangible Book Value per Share	($5.91)	($5.52)	($4.41)
Total Capital	763	872	1,022
Total Debt	283	285	408
Total Long-Term Debt	280	281	404
Net Debt	30	152	163
Capital Expenditures (CapEx)	3.56	0.90	4.23
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-296	-370	-321
Debt-free Net Working Capital (DFNWC)	-44	-238	-77
Net Working Capital (NWC)	-46	-242	-81
Net Nonoperating Expense (NNE)	9.12	17	12
Net Nonoperating Obligations (NNO)	30	152	163
Total Depreciation and Amortization (D&A)	8.78	18	45
Debt-free, Cash-free Net Working Capital to Revenue	-49.32%	-51.94%	-41.43%
Debt-free Net Working Capital to Revenue	-7.29%	-33.36%	-9.88%
Net Working Capital to Revenue	-7.75%	-33.91%	-10.39%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.36	$0.80	$0.07
Adjusted Weighted Average Basic Shares Outstanding	80.26M	92.68M	132.33M
Adjusted Diluted Earnings per Share	$0.36	$0.26	$0.06
Adjusted Weighted Average Diluted Shares Outstanding	198.74M	198.88M	209.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	195.38M	210.18M	208.92M
Normalized Net Operating Profit after Tax (NOPAT)	55	57	27
Normalized NOPAT Margin	9.11%	7.99%	3.43%
Pre Tax Income Margin	11.53%	9.95%	2.93%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	5.04	6.25	1.98
NOPAT to Interest Expense	4.66	9.61	1.15
EBIT Less CapEx to Interest Expense	4.83	6.19	1.80
NOPAT Less CapEx to Interest Expense	4.45	9.54	0.96
Payout Ratios	-	-	-
Dividend Payout Ratio	7.41%	12.64%	70.02%
Augmented Payout Ratio	53.32%	30.40%	230.71%

This table displays calculated financial ratios and metrics derived from Vivid Seats' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.38%	57.32%	0.00%	11.97%	19.97%	-32.95%	18.50%	19.92%	-0.81%	0.76%
EBITDA Growth	37.14%	-41.23%	137.53%	-13.52%	-19.77%	-21.13%	-21.41%	-38.02%	58.42%	-25.24%
EBIT Growth	40.68%	-45.65%	146.63%	-37.92%	-2.80%	-48.14%	-46.53%	-71.83%	-6.48%	-74.05%
NOPAT Growth	99.12%	11.05%	245.66%	172.05%	-19.71%	39.15%	-48.58%	-88.69%	-57.60%	-94.41%
Net Income Growth	1,115.76%	7,560.49%	864.69%	-43.28%	-5.80%	107.70%	-57.49%	-103.20%	-39.85%	-116.99%
EPS Growth	0.00%	425.00%	650.00%	66.67%	-22.22%	-223.08%	-73.33%	-105.00%	-42.86%	93.75%
Operating Cash Flow Growth	-100.05%	132.90%	176.67%	179.35%	186,664.71%	153.61%	-39.85%	-178.63%	-160.61%	45.10%
Free Cash Flow Firm Growth	97.28%	0.00%	85.97%	105.70%	-158.02%	-116.92%	-304.40%	-1,256.82%	-754.61%	81.34%
Invested Capital Growth	7.40%	29.01%	22.09%	5.43%	9.92%	44.80%	48.89%	61.19%	50.89%	5.13%
Revenue Q/Q Growth	6.18%	88.60%	-45.54%	2.68%	13.76%	5.41%	-3.76%	3.91%	-5.91%	7.08%
EBITDA Q/Q Growth	-15.88%	13.59%	33.54%	-32.23%	-21.96%	11.65%	33.07%	-46.55%	99.49%	-47.31%
EBIT Q/Q Growth	-18.66%	13.74%	36.68%	-50.90%	27.35%	-39.31%	40.91%	-74.13%	322.78%	-83.16%
NOPAT Q/Q Growth	20.29%	21.01%	27.22%	46.91%	-64.50%	109.72%	-52.99%	-67.68%	33.06%	-72.33%
Net Income Q/Q Growth	-22.02%	32.30%	21.97%	-54.92%	29.50%	191.71%	-75.03%	-103.40%	2,532.49%	-182.42%
EPS Q/Q Growth	-25.00%	44.44%	15.38%	33.33%	-65.00%	-328.57%	144.44%	-125.00%	500.00%	-125.00%
Operating Cash Flow Q/Q Growth	99.92%	76,488.24%	401.39%	-73.03%	80.63%	3.84%	18.92%	-135.25%	-39.24%	348.58%
Free Cash Flow Firm Q/Q Growth	97.20%	-636.93%	38.98%	145.22%	-226.88%	-519.54%	-13.77%	-29.35%	6.26%	86.47%
Invested Capital Q/Q Growth	8.97%	4.72%	-5.46%	-2.27%	13.61%	37.94%	-2.79%	5.81%	6.35%	-3.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	76.01%	76.17%	76.56%	74.23%	73.18%	74.11%	74.02%	75.41%	72.65%	73.74%
EBITDA Margin	15.41%	9.28%	22.76%	15.02%	10.31%	10.92%	15.10%	7.76%	16.46%	8.10%
Operating Margin	13.84%	8.37%	20.81%	10.65%	10.69%	5.09%	10.83%	3.97%	5.77%	1.45%
EBIT Margin	13.88%	8.37%	21.01%	10.05%	11.25%	6.47%	9.48%	2.36%	10.60%	1.67%
Profit (Net Income) Margin	11.96%	8.39%	18.80%	8.25%	9.39%	26.00%	6.74%	-0.22%	5.70%	-4.38%
Tax Burden Percent	99.45%	78.57%	99.07%	98.59%	94.94%	649.99%	98.92%	67.86%	78.82%	279.55%
Interest Burden Percent	86.67%	127.60%	90.31%	83.31%	87.98%	61.77%	71.91%	-13.76%	68.16%	-94.06%
Effective Tax Rate	0.63%	-5.41%	0.93%	-176.90%	13.94%	-259.66%	17.44%	0.00%	31.81%	0.00%
Return on Invested Capital (ROIC)	14.39%	11.69%	35.75%	50.00%	14.58%	20.89%	11.06%	3.50%	4.53%	1.04%
ROIC Less NNEP Spread (ROIC-NNEP)	13.31%	-419.96%	45.70%	248.25%	17.71%	37.58%	2.69%	-4.96%	7.63%	-5.80%
Return on Net Nonoperating Assets (RNNOA)	16.44%	-0.27%	-2.87%	-9.22%	0.40%	6.43%	0.25%	-0.64%	1.43%	-1.52%
Return on Equity (ROE)	30.83%	11.42%	32.88%	40.78%	14.98%	27.33%	11.31%	2.86%	5.96%	-0.48%
Cash Return on Invested Capital (CROIC)	0.00%	-7.70%	2.69%	21.72%	13.93%	-15.84%	-19.29%	-33.60%	-30.29%	-1.50%
Operating Return on Assets (OROA)	5.27%	3.93%	12.79%	6.14%	7.10%	3.42%	5.00%	1.23%	5.48%	0.81%
Return on Assets (ROA)	4.54%	3.94%	11.44%	5.05%	5.93%	13.72%	3.56%	-0.11%	2.94%	-2.13%
Return on Common Equity (ROCE)	-53.32%	-15.68%	-44.67%	-30.72%	-8.17%	-7.11%	-2.65%	-0.36%	1.10%	-0.15%
Return on Equity Simple (ROE_SIMPLE)	-10.88%	0.00%	-24.65%	-29.83%	-71.84%	0.00%	68.61%	52.41%	22.65%	0.00%
Net Operating Profit after Tax (NOPAT)	22	26	33	49	17	36	17	5.52	7.34	2.03
NOPAT Margin	13.75%	8.82%	20.61%	29.49%	9.20%	18.31%	8.94%	2.78%	3.93%	1.02%
Net Nonoperating Expense Percent (NNEP)	1.08%	431.65%	-9.95%	-198.25%	-3.13%	-16.69%	8.37%	8.46%	-3.10%	6.85%
Return On Investment Capital (ROIC_SIMPLE)	-	-26.06%	-	-	-	9.32%	-	-	-	0.30%
Cost of Revenue to Revenue	23.99%	23.83%	23.44%	25.77%	26.82%	25.89%	25.98%	24.59%	27.35%	26.26%
SG&A Expenses to Revenue	19.28%	20.68%	20.11%	23.16%	19.79%	25.80%	22.20%	30.79%	24.82%	26.22%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	62.17%	62.70%	55.75%	63.58%	62.48%	69.02%	63.19%	71.44%	66.88%	72.28%
Earnings before Interest and Taxes (EBIT)	22	25	34	17	21	13	18	4.68	20	3.33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24	27	37	25	19	22	29	15	31	16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	11.82	9.02	7.66	2.34	3.68
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.11	2.43	1.96	1.99	1.55	1.74	1.70	1.54	0.99	1.24
Price to Earnings (P/E)	34.00	20.57	16.88	14.19	11.62	17.88	19.88	37.85	25.53	71.64
Dividend Yield	3.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.94%	4.86%	5.92%	7.05%	8.60%	5.59%	5.03%	2.64%	3.92%	1.40%
Enterprise Value to Invested Capital (EV/IC)	5.02	4.60	4.91	4.91	3.58	2.54	2.56	2.37	1.54	1.90
Enterprise Value to Revenue (EV/Rev)	4.97	3.91	3.11	2.97	2.36	2.63	2.47	2.32	1.61	1.91
Enterprise Value to EBITDA (EV/EBITDA)	23.05	24.70	21.99	20.37	17.74	18.29	19.41	21.10	12.93	16.22
Enterprise Value to EBIT (EV/EBIT)	24.74	27.21	24.22	23.74	19.95	22.21	26.75	31.68	22.54	32.20
Enterprise Value to NOPAT (EV/NOPAT)	25.02	29.41	23.92	18.66	16.01	14.46	15.30	22.02	18.07	55.59
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	163.44	42.37	24.22	15.04	12.73	15.14	19.98	31.97	27.41
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	200.96	23.21	26.87	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.59	0.59	0.56	0.57	0.55	0.49	0.48	0.68	0.66	0.66
Long-Term Debt to Equity	0.58	0.58	0.55	0.56	0.54	0.48	0.47	0.68	0.66	0.66
Financial Leverage	1.23	0.00	-0.06	-0.04	0.02	0.17	0.09	0.13	0.19	0.26
Leverage Ratio	6.16	2.83	2.67	2.67	2.56	2.53	2.56	2.73	2.65	2.65
Compound Leverage Factor	5.34	3.61	2.41	2.22	2.26	1.56	1.84	-0.38	1.80	-2.50
Debt to Total Capital	37.00%	37.05%	35.85%	36.15%	35.39%	32.68%	32.21%	40.63%	39.87%	39.90%
Short-Term Debt to Total Capital	0.36%	0.36%	0.35%	0.35%	0.41%	0.45%	0.41%	0.39%	0.39%	0.39%
Long-Term Debt to Total Capital	36.64%	36.69%	35.50%	35.80%	34.98%	32.22%	31.80%	40.23%	39.48%	39.51%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	118.84%	113.13%	114.66%	101.53%	79.54%	55.27%	51.92%	43.80%	27.73%	34.54%
Common Equity to Total Capital	-55.85%	-50.18%	-50.51%	-37.68%	-14.93%	12.05%	15.87%	15.57%	32.39%	25.56%
Debt to EBITDA	2.66	2.97	2.62	2.47	2.64	2.78	2.99	4.77	4.20	4.47
Net Debt to EBITDA	0.07	0.32	-0.20	-0.22	0.14	1.49	1.29	1.95	2.04	1.79
Long-Term Debt to EBITDA	2.63	2.94	2.59	2.45	2.61	2.74	2.95	4.72	4.16	4.43
Debt to NOPAT	2.88	3.54	2.85	2.27	2.38	2.20	2.36	4.98	5.87	15.34
Net Debt to NOPAT	0.08	0.38	-0.22	-0.21	0.13	1.17	1.02	2.03	2.85	6.13
Long-Term Debt to NOPAT	2.85	3.50	2.82	2.25	2.36	2.17	2.33	4.93	5.81	15.19
Altman Z-Score	0.54	0.61	0.78	0.73	0.49	0.22	0.27	0.29	0.11	0.19
Noncontrolling Interest Sharing Ratio	272.97%	237.32%	235.86%	175.33%	154.55%	126.03%	123.41%	112.60%	81.52%	69.51%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.90	0.88	0.95	1.00	0.89	0.50	0.57	0.79	0.79	0.81
Quick Ratio	0.78	0.76	0.81	0.82	0.73	0.38	0.43	0.65	0.65	0.69
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-12	-89	-54	24	-31	-192	-219	-283	-265	-36
Operating Cash Flow to CapEx	-1.27%	1,562.70%	30,284.19%	4,490.79%	17,718.44%	29,940.00%	42,570.65%	-4,827.27%	-4,941.90%	1,381.13%
Free Cash Flow to Firm to Interest Expense	-4.15	-11.67	-16.50	8.83	-12.20	-39.19	-43.06	-53.17	-42.12	-5.55
Operating Cash Flow to Interest Expense	-0.01	1.71	19.85	6.33	12.47	6.71	7.71	-2.59	-3.05	7.39
Operating Cash Flow Less CapEx to Interest Expense	-0.47	1.60	19.79	6.19	12.40	6.69	7.69	-2.65	-3.11	6.86
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.38	0.47	0.61	0.61	0.63	0.53	0.53	0.52	0.52	0.49
Accounts Receivable Turnover	10.42	16.52	15.15	17.18	15.39	15.01	12.78	13.50	11.90	14.52
Inventory Turnover	6.80	11.44	8.48	7.66	11.29	10.78	7.23	6.87	9.17	9.94
Fixed Asset Turnover	103.61	104.28	126.75	114.15	84.93	69.26	73.75	77.49	78.08	68.26
Accounts Payable Turnover	0.57	0.80	0.78	0.95	1.05	0.87	0.74	0.85	0.91	0.82
Days Sales Outstanding (DSO)	35.03	22.09	24.09	21.24	23.72	24.32	28.55	27.04	30.68	25.13
Days Inventory Outstanding (DIO)	53.66	31.89	43.05	47.66	32.32	33.86	50.48	53.12	39.81	36.72
Days Payable Outstanding (DPO)	638.17	457.86	465.22	383.15	348.55	419.55	494.37	429.20	403.19	443.47
Cash Conversion Cycle (CCC)	-549.48	-403.88	-398.08	-314.26	-292.51	-361.37	-415.34	-349.03	-332.69	-381.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	487	510	483	472	536	739	718	760	808	777
Invested Capital Turnover	1.05	1.33	1.73	1.70	1.58	1.14	1.24	1.26	1.15	1.02
Increase / (Decrease) in Invested Capital	34	115	87	24	48	229	236	289	273	38
Enterprise Value (EV)	2,447	2,349	2,371	2,316	1,916	1,875	1,838	1,798	1,249	1,478
Market Capitalization	1,534	1,456	1,491	1,551	1,260	1,241	1,259	1,194	770	962
Book Value per Share	($2.12)	($1.92)	($2.03)	($1.50)	($0.61)	$0.53	$0.66	$0.75	$1.58	$1.26
Tangible Book Value per Share	($6.10)	($5.91)	($6.11)	($5.57)	($5.07)	($5.52)	($4.94)	($4.88)	($4.05)	($4.41)
Total Capital	762	763	787	779	806	872	879	1,001	1,017	1,022
Total Debt	282	283	282	281	285	285	283	407	405	408
Total Long-Term Debt	279	280	279	279	282	281	280	403	402	404
Net Debt	7.50	30	-22	-25	15	152	122	166	197	163
Capital Expenditures (CapEx)	1.34	0.83	0.22	0.39	0.18	0.11	0.09	0.29	0.39	3.46
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-313	-296	-324	-305	-315	-370	-386	-335	-291	-321
Debt-free Net Working Capital (DFNWC)	-38	-44	-20	1.47	-45	-238	-225	-95	-83	-77
Net Working Capital (NWC)	-41	-46	-23	-1.28	-49	-242	-228	-99	-87	-81
Net Nonoperating Expense (NNE)	2.80	1.28	2.93	35	-0.36	-15	4.20	5.95	-3.29	11
Net Nonoperating Obligations (NNO)	7.50	30	-22	-25	15	152	122	166	197	163
Total Depreciation and Amortization (D&A)	2.40	2.70	2.82	8.23	-1.77	8.81	11	11	11	13
Debt-free, Cash-free Net Working Capital to Revenue	-63.53%	-49.32%	-42.53%	-39.20%	-38.88%	-51.94%	-51.92%	-43.23%	-37.63%	-41.43%
Debt-free Net Working Capital to Revenue	-7.82%	-7.29%	-2.60%	0.19%	-5.59%	-33.36%	-30.26%	-12.23%	-10.70%	-9.88%
Net Working Capital to Revenue	-8.38%	-7.75%	-2.96%	-0.16%	-6.00%	-33.91%	-30.74%	-12.74%	-11.21%	-10.39%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.09	$0.13	$0.16	$0.36	$0.00	$0.21	$0.05	($0.01)	$0.04	($0.01)
Adjusted Weighted Average Basic Shares Outstanding	82.00M	80.26M	77.41M	85.27M	96.41M	92.68M	134.07M	131.80M	131.52M	132.33M
Adjusted Diluted Earnings per Share	$0.09	$0.13	$0.15	$0.20	$0.00	($0.16)	$0.04	($0.01)	$0.04	($0.01)
Adjusted Weighted Average Diluted Shares Outstanding	82.02M	198.74M	195.82M	196.38M	0.00	198.88M	210.91M	208.03M	131.95M	209.14M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	199.50M	195.38M	195.88M	196.18M	196.41M	210.18M	207.65M	208.08M	207.75M	208.92M
Normalized Net Operating Profit after Tax (NOPAT)	22	17	33	12	17	7.07	17	5.52	7.34	2.03
Normalized NOPAT Margin	13.75%	5.86%	20.61%	7.46%	9.20%	3.56%	8.94%	2.78%	3.93%	1.02%
Pre Tax Income Margin	12.03%	10.68%	18.97%	8.37%	9.89%	4.00%	6.82%	-0.32%	7.23%	-1.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.50	3.26	10.32	5.99	8.32	2.62	3.56	0.88	3.14	0.52
NOPAT to Interest Expense	7.43	3.43	10.12	17.59	6.81	7.40	3.36	1.04	1.17	0.31
EBIT Less CapEx to Interest Expense	7.04	3.15	10.25	5.85	8.25	2.59	3.54	0.83	3.08	-0.02
NOPAT Less CapEx to Interest Expense	6.97	3.32	10.06	17.45	6.74	7.37	3.34	0.98	1.10	-0.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	613.60%	7.41%	0.00%	0.00%	11.54%	12.64%	0.00%	0.00%	16.81%	70.02%
Augmented Payout Ratio	613.60%	53.32%	40.96%	45.84%	54.42%	30.40%	16.28%	39.86%	64.36%	230.71%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Vivid Seats (SEAT) quarterly statements across the last four years, focused on trends in revenue, profitability, cash flow, and balance sheet metrics.

Gross margin remains elevated, with Q4 2024 gross margin around 74% (Total Revenue: 199,813,000; Total Gross Profit: 147,336,000), indicating strong profitability on core revenue.
Net income attributable to common shareholders was positive in multiple 2024 quarters, including Q1 2024 ($6,077,000), Q3 2024 ($5,296,000), and Q4 2024 ($3,115,000), signaling quarterly profitability despite volatility elsewhere.
Operating cash flow from continuing operations was robust in several recent quarters, notably Q4 2024 ($43,439,000) and Q1 2024 ($41,293,000), underscoring ongoing cash-generation ability.
Cash and cash equivalents trended higher through 2024, with about $202.3 million at the end of the third quarter (Q3 2024) and $158.9 million at the start of the year (Q1 2024), suggesting improving liquidity.
Capex has been modest and mostly concentrated in small quarterly outflows (PPE purchases range from roughly $0.1M to $3.5M per quarter), leaving more cash available for other uses.
Top-line growth has cooled since 2022, with Q4 2023 Total Revenue of 198,303,000 vs Q4 2022 at 295,762,000, indicating slower growth or seasonality rather than a sustained uptrend.
Redeemable noncontrolling interest on the balance sheet is sizable (hundreds of millions of dollars), reflecting minority interests that can affect reported earnings and equity on consolidation.

Near-term cash-flow weakness occurred in some quarters, with net cash from continuing operating activities negative in Q2 2024 (-13,809,000) and Q3 2024 (-17,791,000), signaling quarterly liquidity stress.
Ongoing negative retained earnings at times (e.g., Retained Earnings around -$929.3 million in Q3 2024 and -$934.6 million in Q4 2023) indicate a substantial cumulative deficit that weighs on equity.

05/05/26 06:59 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Vivid Seats' Financials

When does Vivid Seats' fiscal year end?

According to the most recent income statement we have on file, Vivid Seats' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Vivid Seats' net income changed over the last 2 years?

Vivid Seats' net income appears to be on a downward trend, with a most recent value of $14.30 million in 2024, falling from $70.78 million in 2022. The previous period was $113.14 million in 2023.

What is Vivid Seats' operating income?

Vivid Seats' total operating income in 2024 was $42.23 million, based on the following breakdown:

Total Gross Profit: $573.73 million
Total Operating Expenses: $531.51 million

How has Vivid Seats' revenue changed over the last 2 years?

Over the last 2 years, Vivid Seats' total revenue changed from $600.27 million in 2022 to $775.59 million in 2024, a change of 29.2%.

How much debt does Vivid Seats have?

Vivid Seats' total liabilities were at $1.02 billion at the end of 2024, a 6.1% increase from 2023, and a 52.3% increase since 2022.

How much cash does Vivid Seats have?

In the past 2 years, Vivid Seats' cash and equivalents has ranged from $125.48 million in 2023 to $251.54 million in 2022, and is currently $243.48 million as of their latest financial filing in 2024.

How has Vivid Seats' book value per share changed over the last 2 years?

Over the last 2 years, Vivid Seats' book value per share changed from -1.92 in 2022 to 1.26 in 2024, a change of -165.5%.

Related Companies

Financial statements for NASDAQ:SEATW last updated on 4/6/2025 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Vivid Seats (SEATW) Financials

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Vivid Seats' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Vivid Seats (SEATW) Financials

Annual Income Statements for Vivid Seats

Quarterly Income Statements for Vivid Seats

Annual Cash Flow Statements for Vivid Seats

Quarterly Cash Flow Statements for Vivid Seats

Annual Balance Sheets for Vivid Seats

Quarterly Balance Sheets for Vivid Seats

Annual Metrics And Ratios for Vivid Seats

Quarterly Metrics And Ratios for Vivid Seats

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Vivid Seats' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools