Vivid Seats Inc. (NASDAQ: SEAT), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today provided financial results for the second quarter ended June 30, 2022.
“We are pleased to deliver another exceptionally strong quarter and one in which we delivered record-setting Q2 Marketplace GOV which was driven by a record-setting number of Marketplace Orders across all quarters,” said Stan Chia, Vivid Seats CEO. “Our performance is a testament to the power of our business model, the success of our strategy, and the long-term secular growth that we expect from the live event industry. As we continue to focus on the fan experience and innovate and execute against our strategic priorities, we are committed to sustained and profitable growth, disciplined investment and maximizing shareholder value.”
Second Quarter 2022 Key Operational and Financial Metrics:
Marketplace GOV of $814.8 million – up 18% from $693.1 million in Q2 2021
Revenues of $147.7 million – up 28% from $115.5 million in Q2 2021
Net income of $24.1 million – up 810% from $2.6 million in Q2 2021
Adjusted EBITDA of $30.3 million – down 16% from $36.2 million in Q2 2021
“Our second quarter results exceeded expectations and we believe reflect the combination of pent-up demand and the strength of our differentiated offering,” said Lawrence Fey, Vivid Seats CFO. “With focused execution, topline growth flowed through to profitability, even as we continued to make longer-term growth investments. On the back of a strong first half of 2022, we are raising our full-year 2022 guidance for each of Marketplace GOV, Revenues and Adjusted EBITDA.”
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