Vivid Seats Inc (SEAT) AI Stock Analysis

Vivid Seats Inc is an online secondary marketplace for event tickets across the United States and Canada, operating through Marketplace and Resale segments. In Marketplace, it serves as an intermediary connecting ticket buyers and sellers for sports, concerts, theater, and entertainment events via its website and mobile applications. It provides sellers with Skybox, a proprietary enterprise resource planning tool for managing inventory, pricing, and order fulfillment. The Resale segment acquires tickets for resale on secondary marketplaces, which supports research and development for Skybox and seller tools.

Between FY2021 and FY2024, revenue grew from $443.0M to a peak of $775.6M, before declining 26.4% to $570.8M in FY2025. Gross margin contracted from 79.5% in FY2021 to 69.6% in FY2025, while operating margin shifted from 17.3% to -9.9%. Net income stood at $74.5M in FY2023 and $9.4M in FY2024 before dropping to -$429.3M in FY2025. Free cash flow decreased from $49.7M in FY2024 to -$110.9M in FY2025. For the trailing twelve months, revenue totaled $518.8M with a profit margin of -60.3%. In the latest quarter ended June 30, 2026, revenue fell 9.5% year-over-year and quarterly earnings declined 41.9%.

As of June 30, 2026, Vivid Seats held $136.7M in cash and short-term investments against $401.0M in total debt, resulting in net debt of $264.4M. Shareholders' equity was negative at -$105.1M, and the current ratio stood at 0.66. Operating cash flow turned negative at -$91.6M in FY2025. During FY2025, capital expenditures were $19.3M and share buybacks totaled $18.3M.

At a last close of $2.87, Vivid Seats traded at a market capitalization of $32.3M and an enterprise value of $308.4M. Its forward P/E ratio of 22.7x trades above the 14.1x median of its US-listed Communication Services peers. Conversely, its price-to-sales ratio of 0.1x and EV/EBITDA of 5.8x sit below the peer medians of 0.8x and 10.0x, respectively. The stock fell 75.5% over the past year, trailing the S&P 500 (SPY) return of 16.8%.

Wall Street coverage consists of 2 Strong Buy, 1 Buy, and 6 Hold ratings, with zero Sell ratings. The mean price target is $11.68, representing 306.9% upside compared to the last close of $2.87. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $510.3M and an EPS of -$4.64. The company beat EPS estimates in 2 of the last 4 quarters. The next earnings date is scheduled for November 5, 2026.

This page is an AI-written research summary of Vivid Seats Inc (SEAT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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